Bill Text: NY A02234 | 2013-2014 | General Assembly | Introduced

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Bill Title: Grants a tax credit for materials aiding the ventilation and illumination in factory work rooms during the manufacturing process; provides that the tax credit amount shall equal thirty-five percent of the cost of any such materials placed in service during the taxable year; further defines materials as appliances and energy using products by or for ventilation and illumination.

Spectrum: Partisan Bill (Republican 4-0)

Status: (Introduced - Dead) 2014-06-17 - held for consideration in ways and means [A02234 Detail]

Download: New_York-2013-A02234-Introduced.html

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                           S T A T E   O F   N E W   Y O R K
       ________________________________________________________________________
                                         2234
                              2013-2014 Regular Sessions
                                 I N  A S S E M B L Y
                                      (PREFILED)
                                    January 9, 2013
                                      ___________
       Introduced  by  M.  of A. CROUCH, KOLB -- Multi-Sponsored by -- M. of A.
         FINCH, OAKS -- read once and referred to the  Committee  on  Ways  and
         Means
       AN  ACT  to  amend the tax law, in relation to granting a tax credit for
         the purchase of materials aiding the ventilation and  illumination  in
         factory work rooms during the manufacturing process
         THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
       BLY, DO ENACT AS FOLLOWS:
    1    Section 1. The tax law is amended by adding a  new  section  187-s  to
    2  read as follows:
    3    S  187-S. CREDIT FOR MATERIALS AIDING THE VENTILATION AND ILLUMINATION
    4  IN FACTORY WORK ROOMS. 1. GENERAL. A TAXPAYER SHALL BE ALLOWED A CREDIT,
    5  TO BE COMPUTED AS HEREINAFTER PROVIDED, AGAINST  THE  TAXES  IMPOSED  BY
    6  THIS  ARTICLE,  OTHER  THAN  THE  TAXES  IMPOSED BY SECTIONS ONE HUNDRED
    7  EIGHTY, ONE HUNDRED EIGHTY-ONE, ONE HUNDRED EIGHTY-SIX-A AND ONE HUNDRED
    8  EIGHTY-SIX-E OF THIS ARTICLE. SUCH CREDIT, TO BE COMPUTED AS HEREINAFTER
    9  PROVIDED, SHALL BE ALLOWED FOR MATERIALS, PURCHASED AND USED BY A FACTO-
   10  RY FOR USE OR CONSUMPTION DIRECTLY AND EXCLUSIVELY TO FACILITATE  VENTI-
   11  LATION  AND ILLUMINATION IN FACTORY WORK ROOMS, PURSUANT TO SECTIONS TWO
   12  HUNDRED FIFTY-SEVEN AND TWO HUNDRED NINETY-NINE OF THE LABOR LAW, PLACED
   13  IN SERVICE DURING THE TAXABLE YEAR; PROVIDED, HOWEVER, THAT THE  COMMIS-
   14  SIONER SHALL REQUIRE SUCH DOCUMENTARY PROOF TO QUALIFY FOR ANY EXEMPTION
   15  PROVIDED  HEREIN  AS  THE  COMMISSIONER  DEEMS  APPROPRIATE AND THAT THE
   16  AMOUNT OF CREDIT ALLOWED BY THIS SECTION  AGAINST  THE  TAX  IMPOSED  BY
   17  SECTION  ONE  HUNDRED EIGHTY-FOUR OF THIS ARTICLE SHALL BE THE EXCESS OF
   18  THE CREDIT COMPUTED UNDER THIS SECTION OVER THE AMOUNT OF CREDIT ALLOWED
   19  BY  THIS  SECTION  AGAINST  THE  TAX  IMPOSED  BY  SECTION  ONE  HUNDRED
   20  EIGHTY-THREE OF THIS ARTICLE.
   21    2.  DEFINITION.  AS USED IN THIS SECTION "MATERIALS" SHALL MEAN APPLI-
   22  ANCES AND ENERGY USING PRODUCTS BY OR FOR VENTILATION AND  ILLUMINATION,
        EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                             [ ] is old law to be omitted.
                                                                  LBD06334-01-3
       A. 2234                             2
    1  SUCH  AS  BUT  NOT  LIMITED TO, LAMPS AND LUMINARIES, FLUORESCENT LAMPS,
    2  CENTRAL AIR CONDITIONERS, ROOM AIR CONDITIONERS,  PACKAGE  TERMINAL  AIR
    3  CONDITIONERS AND HEAT PUMPS, AND FURNACES.
    4    3.  AMOUNT OF CREDIT. THE AMOUNT OF CREDIT UNDER THIS SECTION SHALL BE
    5  THIRTY-FIVE PERCENT OF THE COST OF ANY SUCH MATERIALS PLACED IN  SERVICE
    6  DURING THE TAXABLE YEAR.
    7    4.  CARRYOVER.  IN  NO  EVENT  SHALL  THE CREDIT UNDER THIS SECTION BE
    8  ALLOWED IN AN AMOUNT WHICH WILL REDUCE THE TAX PAYABLE TO LESS THAN  THE
    9  APPLICABLE  MINIMUM TAX FIXED BY SECTION ONE HUNDRED EIGHTY-THREE OR ONE
   10  HUNDRED EIGHTY-FIVE OF THIS ARTICLE. IF, HOWEVER, THE AMOUNT  OF  CREDIT
   11  ALLOWABLE  UNDER  THIS  SECTION  FOR ANY TAXABLE YEAR REDUCES THE TAX TO
   12  SUCH AMOUNT, ANY AMOUNT OF CREDIT NOT DEDUCTIBLE IN  SUCH  TAXABLE  YEAR
   13  MAY  BE  CARRIED OVER TO THE FOLLOWING YEAR OR YEARS AND MAY BE DEDUCTED
   14  FROM THE TAXPAYER'S TAX FOR SUCH YEAR OR YEARS.
   15    S 2. This act shall take effect immediately; provided,  however,  that
   16  the  exemption provided applies to property placed in service in taxable
   17  years beginning on or after January 1, 2013 and that the commissioner of
   18  taxation and finance may take any action with respect to  the  adoption,
   19  amendment,  suspension  or  repeal of any rule or regulation relating to
   20  this act, and may establish  any  procedure  necessary  for  the  timely
   21  implementation thereof.