A01817 Summary:

BILL NOA01817
 
SAME ASNo Same As
 
SPONSORDinowitz
 
COSPNSR
 
MLTSPNSR
 
Amd §§210-B & 606, Tax L
 
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.
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A01817 Actions:

BILL NOA01817
 
01/23/2023referred to ways and means
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A01817 Committee Votes:

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A01817 Floor Votes:

There are no votes for this bill in this legislative session.
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A01817 Memo:

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.
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A01817 Text:



 
                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 for                     Amount of credit
    37  electrical outlets for charging      under subdivision
    38  electric cars in certain             fifty-nine of section
    39  parking garages under subsection     two 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.
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A01817 LFIN:

 NO LFIN
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A01817 Chamber Video/Transcript:

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