Bill > S04507

This bill creates a small business renewable tax credit that provides a 20% credit on the cost of conversion from electric or gas to renewable energy for eligible small businesses in New York state. To be eligible, a business must have no more than 19 full-time equivalent employees, cannot be a sole proprietorship with the business location in the owner's residence, and must meet certain other criteria. The term "business related renewable energy usage" is defined as renewable energy usage that is clearly delimited from any shared renewable energy power usage cost and is used to further the business's economic activity at its primary location in New York.