Bill > S03782

This bill provides a tax credit to corporations that purchase qualified green construction equipment, equivalent to 30% of the total expenses incurred during the taxable year in purchasing such equipment. The qualified green construction equipment is defined as heavy-duty vehicles, machines, trucks, and equipment that are specially designed for construction and earthwork operations, and are prohibited from producing greenhouse gas emissions, utilizing fossil fuels, and emitting toxic chemicals. The aggregate amount of tax credits allowed statewide in any calendar year is capped at $10 million, and the commissioner will determine the procedure for certification of the credit.