Establishes a tax credit for the installation of electrical outlets for charging electric cars in certain parking garages owned by condominium management associations or cooperative housing corporations.
NEW YORK STATE ASSEMBLY MEMORANDUM IN SUPPORT OF LEGISLATION submitted in accordance with Assembly Rule III, Sec 1(f)
BILL NUMBER: A1817
SPONSOR: Dinowitz TITLE OF BILL:
An act to amend the tax law, in relation to establishing a tax credit
for condominium and cooperative apartment owners that install electrical
outlets for charging electric cars in certain parking garages
PURPOSE OR GENERAL IDEA OF BILL:
This bill would create a tax credit for the installation of electrical
outlets for the purpose of charging electric cars in certain parking
garages owned by condominiums and cooperative housing units in the state
of New York.
SUMMARY OF SPECIFIC PROVISIONS:
Section one of the bill adds subdivision 59 to § 210-B of the tax law
to include a credit for electrical outlets for charging electric cars in
certain parking garages. The credit offered will be available to condo-
minium management groups or cooperative housing corporations that own
garages used by their tenants. This subdivision also sets the limits of
the tax credit to be no more than 55% of the expenditure incurred in
purchasing and installing any such system and caps the credit at $5,000
and also clarifies how the tax credit may be disbursed over multiple
years. Finally, this subdivision also states that should a federal tax
credit be available for the same purchase, the combination of the do
shall not exceed 55% of the total costs incurred, or $7,000, whichever
is less.
Section two of the bill adds subsection (g-3) to § 606 of the tax law
by which contains the credit outlined in section one of this bill.
Section three of the bill adds clause xlx to subparagraph (B) of para-
graph 1 of subsection (i) of § 606 of the tax law incorporating an addi-
tional table related to S corporation credits.
Section 4 sets the effective date.
JUSTIFICATION:
This bill would help consumers who live in condominium and cooperative
housing units to be able to purchase and utilize electric vehicles.
Electric vehicles are wildly recognized as eco friendly alternative to
gasoline or diesel fuel vehicles. The State has already begun to look
for ways to make electric cars a more viable option, and helping condo-
miniums and co-ops that own garages for their tenants vehicles would
allow more consumers to make the switch.
PRIOR LEGISLATIVE HISTORY:
2021-22: A.2273 - Ways and Means
2019-20: A.3592 - Ways and Means
2017-2018: A.2706 - Ways and Means
2015-2016: A.110 - Ways and Means
2013-2014: A.569 - Held for consideration in Ways and Means
2011-2012: A.8624 - Held for consideration in Ways and Means
FISCAL IMPLICATIONS:
To be determined.
EFFECTIVE DATE:
This act shall take effect on the one hundred twentieth day after it
shall become a law. Effective immediately, the addition, amendment
and/or repeal of any rule or regulation necessary for the implementation
of this act on its effective date are authorized to be made on or before
such date.
STATE OF NEW YORK
________________________________________________________________________
1817
2023-2024 Regular Sessions
IN ASSEMBLY
January 23, 2023
___________
Introduced by M. of A. DINOWITZ -- read once and referred to the Commit-
tee on Ways and Means
AN ACT to amend the tax law, in relation to establishing a tax credit
for condominium and cooperative apartment owners that install elec-
trical outlets for charging electric cars in certain parking garages
The People of the State of New York, represented in Senate and Assem-bly, do enact as follows:
1 Section 1. Section 210-B of the tax law is amended by adding a new
2 subdivision 59 to read as follows:
3 59. Credit for electrical outlets for charging electric cars in
4 certain parking garages. (a) A taxpayer shall be allowed a credit for
5 taxable years beginning on or after January first, two thousand twenty-
6 four and ending before December thirty-first, two thousand twenty-eight
7 against the tax imposed by this article for the purchase and installa-
8 tion of electrical outlets for charging electric cars in the parking
9 garage owned by a condominium management association or a cooperative
10 housing corporation, if such condominium or cooperative housing is
11 located within this state. Any taxpayer who is a member of the condomin-
12 ium management association or who is a tenant-stockholder in the cooper-
13 ative housing corporation may for the purpose of this subdivision claim
14 a proportionate share of the total expense as the expenditure for the
15 purposes of the credit attributable to his principal residence, if such
16 residence is located within the state. The total amount of the credit
17 shall be fifty-five percent of the expenditure incurred in purchasing
18 and installing any such system or combination thereof, but not to exceed
19 the maximum credit of five thousand dollars.
20 (b) For the purposes of this subdivision, the following terms shall
21 have the following meanings:
22 (i) "electric cars" shall mean motor vehicles, as defined by section
23 one hundred twenty-five of the vehicle and traffic law, which are
24 propelled by electric motors using electric energy stored in batteries
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[] is old law to be omitted.
LBD00854-01-3
A. 1817 2
1 or other energy storage devices. For the purposes of this subdivision,
2 "electric cars" shall not include electric personal assistive mobility
3 devices as defined by section one hundred fourteen-d of the vehicle and
4 traffic law.
5 (ii) "electrical outlets for charging electric cars" shall include any
6 electrical outlets intended to be used for charging electric cars,
7 including, but not limited to 120-volt outlets, 240-volt outlets and
8 charging stations specifically manufactured for charging electric cars.
9 (c) To the extent that a federal income tax credit shall apply to
10 expenditures eligible for a credit under this subdivision, the credit
11 provided in this subdivision shall be reduced so that the combined cred-
12 it shall not exceed fifty-five percent of such expenditures or seven
13 thousand dollars, whichever is less.
14 (d) If the amount of credit allowable under this subdivision shall
15 exceed the taxpayer's tax for such year, the excess may be carried over
16 to the following year or years and may be deducted from the taxpayer's
17 tax for such year or years.
18 (e) If all or any part of the credit provided for under this subdivi-
19 sion was allowed or carried over from a prior taxable year or years, a
20 taxpayer shall reduce the allowable credit for additional qualifying
21 expenditures in a subsequent tax year by the amount of the credit previ-
22 ously allowed or carried over; provided however that a credit previously
23 allowed or carried over from a prior taxable year or years shall not be
24 taken into account in determining the allowable credit for the purchase
25 and installation of electrical outlets for charging electric cars in a
26 subsequent principal residence.
27 (f) For the purpose of determining the amount of the actual expendi-
28 ture incurred in purchasing and installing electrical outlets for charg-
29 ing electric cars, the amount of any federal, state or local grant
30 received by the taxpayer, which was used for the purchase and/or instal-
31 lation of such system and which was not included in the gross income of
32 the taxpayer, shall not be taken into account.
33 § 2. Section 606 of the tax law is amended by adding a new subsection
34 (g-3) to read as follows:
35 (g-3) Credit for electrical outlets for charging electric cars in
36 certain parking garages. (1) A taxpayer shall be allowed a credit for
37 taxable years beginning on or after January first, two thousand twenty-
38 four and ending before December thirty-first, two thousand twenty-eight
39 against the tax imposed by this article for the purchase and installa-
40 tion of electrical outlets for charging electric cars in the parking
41 garage owned by a condominium management association or a cooperative
42 housing corporation, if such condominium or cooperative housing is
43 located within this state. Any taxpayer who is a member of the condomin-
44 ium management association or who is a tenant-stockholder in the cooper-
45 ative housing corporation may for the purpose of this subsection claim a
46 proportionate share of the total expense as the expenditure for the
47 purposes of the credit attributable to his principal residence, if such
48 residence is located within the state. The total amount of the credit
49 shall be fifty-five percent of the expenditure incurred in purchasing
50 and installing any such system or combination thereof, but not to exceed
51 the maximum credit of five thousand dollars.
52 (2) For the purposes of this subsection, the following terms shall
53 have the following meanings:
54 (i) "electric cars" shall mean motor vehicles, as defined by section
55 one hundred twenty-five of the vehicle and traffic law, which are
56 propelled by electric motors using electric energy stored in batteries
A. 1817 3
1 or other energy storage devices. For the purposes of this subdivision,
2 "electric cars" shall not include electric personal assistive mobility
3 devices as defined by section one hundred fourteen-d of the vehicle and
4 traffic law,
5 (ii) "electrical outlets for charging electric cars" shall include any
6 electrical outlets intended to be used for charging electric cars,
7 including, but not limited to 120-volt outlets, 240-volt outlets and
8 charging stations specifically manufactured for charging electric cars.
9 (3) To the extent that a federal income tax credit shall apply to
10 expenditures eligible for a credit under this subsection, the credit
11 provided in this subsection shall be reduced so that the combined credit
12 shall not exceed fifty-five percent of such expenditures or seven thou-
13 sand dollars, whichever is less.
14 (4) If the amount of credit allowable under this subsection shall
15 exceed the taxpayer's tax for such year, the excess may be carried over
16 to the following year or years and may be deducted from the taxpayer's
17 tax for such year or years.
18 (5) If all or any part of the credit provided for under this
19 subsection was allowed or carried over from a prior taxable year or
20 years, a taxpayer shall reduce the allowable credit for additional qual-
21 ifying expenditures in a subsequent tax year by the amount of the credit
22 previously allowed or carried over; provided however that a credit
23 previously allowed or carried over from a prior taxable year or years
24 shall not be taken into account in determining the allowable credit for
25 the purchase and installation of electrical outlets for charging elec-
26 tric cars in a subsequent principal residence.
27 (6) For the purpose of determining the amount of the actual expendi-
28 ture incurred in purchasing and installing electrical outlets for charg-
29 ing electric cars, the amount of any federal, state or local grant
30 received by the taxpayer, which was used for the purchase and/or instal-
31 lation of such system and which was not included in the gross income of
32 the taxpayer, shall not be taken into account.
33 § 3. Subparagraph (B) of paragraph 1 of subsection (i) of section 606
34 of the tax law is amended by adding a new clause (xlx) to read as
35 follows:
36 (xlx) Credit forAmount of credit
37 electrical outlets for chargingunder subdivision
38 electric cars in certainfifty-nine of section
39 parking garages under subsectiontwo hundred ten-B
40 (g-3)
41 § 4. This act shall take effect on the one hundred twentieth day after
42 it shall have become a law. Effective immediately, the addition, amend-
43 ment and/or repeal of any rule or regulation necessary for the implemen-
44 tation of this act on its effective date are authorized to be made on or
45 before such date.
