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Bill > S04933
NY S04933
NY S04933Exempts low-emission and energy efficient vehicles from retail sales and compensating use taxes.
summary
Introduced
02/17/2023
02/17/2023
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, in relation to exempting low-emission and energy efficient vehicles from retail sales and compensating use taxes; and providing for the repeal of such provisions upon expiration thereof
AI Summary
This bill exempts low-emission and energy-efficient vehicles from retail sales and compensating use taxes in New York. It defines "low-emission and energy-efficient vehicles" as those certified by the U.S. Environmental Protection Agency or those that meet certain air pollution and greenhouse gas emissions standards. The exemptions will be offset by proceeds from the auction of emissions allowances, up to a cap of $27 million. The bill will take effect 90 days after becoming law and expire on December 31, 2026.
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/S4933 |
| BillText | https://assembly.state.ny.us/leg/?default_fld=&bn=S04933&term=2023&Summary=Y&Actions=Y&Text=Y&Committee%26nbspVotes=Y&Floor%26nbspVotes=Y#S04933 |
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