Bill > S03286

This bill creates a small business renewable tax credit. The key provisions are: 1. It provides a tax credit equal to 20% of the cost of converting from electric or gas to renewable energy for eligible small businesses in New York with no more than 19 full-time equivalent employees, that are not sole-proprietorships located in the owner's residence, not certified under certain economic development programs, and located within a certain radius of other qualified small businesses. 2. The term "business related renewable energy usage" refers to renewable energy usage that is clearly delimited from any shared renewable energy power usage costs and used to further the economic activity at the business's primary location in New York. 3. The credit can offset the business's tax liability, and any unused credit can be treated as an overpayment to be credited or refunded, though no interest will be paid on the refund. The bill aims to incentivize small businesses in New York to transition to renewable energy sources for their operations.