Bill > S05760

This bill provides a tax credit for the purchase or conversion of an electric vessel or zero emission vessel, as well as a tax credit for electric vessel recharging property. The credit is available to taxpayers subject to tax under Articles 9-A (corporate franchise tax) or 22 (personal income tax) of the Tax Law. The credit amount is 30% of the tax paid on the purchase or conversion, subject to certain phase-out and limitation provisions. The bill also includes definitions of "electric vessel" and "zero emission vessel," and outlines the eligibility criteria and application process for the credit. Additionally, the bill allows the sharing of information between the Department of Taxation and Finance and the Department of Environmental Conservation for the purposes of administering the credit.