Bill > S03871

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. Qualified green construction equipment is defined as heavy-duty vehicles, heavy machines, heavy trucks, construction equipment, engineering equipment, heavy vehicles or heavy hydraulics that are designed for construction tasks 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 under this provision is capped at $10 million per calendar year, and the procedure for certification of the credit will be determined by the commissioner.