Bill
Bill > S04875
NY S04875
NY S04875Provides a tax credit for utility bill payments made in taxable years 2023 and 2024 based on the difference of the average monthly utility bill payment in the year in which the credit is claimed and the average monthly utility bill payment in the preceding three taxable years; establishes a moratorium on certain utility bill surcharges until April 1, 2024; provides for the repeal of such moratorium upon expiration thereof.
summary
Introduced
02/16/2023
02/16/2023
In Committee
01/03/2024
01/03/2024
Crossed Over
Passed
Dead
12/31/2024
12/31/2024
Introduced Session
2023-2024 General Assembly
Bill Summary
AN ACT to amend the tax law and the public service law, in relation to providing a tax credit for certain utility bill payments and establishing a moratorium on certain surcharges thereon; and providing for the repeal of certain provisions of the public service law upon expiration thereof
AI Summary
This bill provides a tax credit for utility bill payments made in taxable years 2023 and 2024. The credit is calculated as the difference between the average monthly utility bill payment in the year the credit is claimed and the average monthly utility bill payment in the preceding three years. The bill also establishes a moratorium on certain utility bill surcharges, such as the system benefit charge and renewable portfolio standard, until April 1, 2024, at which point the moratorium will expire.
Committee Categories
Budget and Finance
Sponsors (3)
Last Action
REFERRED TO BUDGET AND REVENUE (on 01/03/2024)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.nysenate.gov/legislation/bills/2023/S4875 |
| BillText | https://assembly.state.ny.us/leg/?default_fld=&bn=S04875&term=2023&Summary=Y&Actions=Y&Text=Y&Committee%26nbspVotes=Y&Floor%26nbspVotes=Y#S04875 |
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