Bill > S03602

This bill exempts low-emission and energy-efficient vehicles from retail sales and compensating use taxes in New York. It defines a "low-emission and energy-efficient vehicle" as one certified by the U.S. Environmental Protection Agency or meeting certain air pollution and greenhouse gas emission standards. The exemption will be offset by proceeds from the auction of emission allowances, up to a limit of $27 million. The bill will take effect 90 days after becoming law and expire on December 31, 2022.