New York S 4327: Relates to assault in the third degree

Bill Text

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S04327 Summary:

BILL NOS04327 

&nbsp

SAME ASNo Same As

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SPONSORASHBY

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COSPNSRBORRELLO, CHAN, TEDISCO

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MLTSPNSR

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Amd §606, Tax L; add §18, Pub Serv L

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Provides a tax credit for utility bill payments made in taxable years 2025 and 2026 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, 2026; provides for the repeal of such moratorium upon expiration thereof.

Go to top S04327 Actions:

BILL NOS04327 

&nbsp

02/04/2025REFERRED TO BUDGET AND REVENUE

01/07/2026REFERRED TO BUDGET AND REVENUE

Go to topS04327 Committee&nbspVotes:

Go to topS04327 Floor&nbspVotes:

There are no Assembly votes for this bill in this legislative session.

Go to topS04327 Text:

 STATE OF NEW YORK
 ________________________________________________________________________

 4327

 2025-2026 Regular Sessions

 IN SENATE

 February 4, 2025
 ___________

 Introduced by Sens. ASHBY, BORRELLO, TEDISCO -- read twice and ordered
 printed, and when printed to be committed to the Committee on Budget
 and Revenue

 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 estab-
 lishing a moratorium on certain surcharges thereon; and providing for
 the repeal of certain provisions of the public service law upon expi-
 ration thereof

 The People of the State of New York, represented in Senate and Assem-
 bly, do enact as follows:

 1 Section 1. Section 606 of the tax law is amended by adding a new
 2 subsection (qqq) to read as follows:
 3 (qqq) Credit for utility charges. (1) Allowance of credit. For taxable
 4 years beginning on or after January first, two thousand twenty-five and
 5 ending December thirty-first, two thousand twenty-six, a qualified
 6 taxpayer shall be allowed a credit to be computed as provided in para-
 7 graph two of this subsection against the tax imposed by this article.
 8 (2) Computation of credit. The amount of the credit allowed under this
 9 subsection shall be the difference of the total utility charges paid by
 10 the taxpayer during the taxable year in which the credit is claimed and
 11 the average of the taxpayer's total utility payments during the three
 12 taxable years immediately preceding the taxable year in which the credit
 13 is claimed.
 14 (3) "Utility costs" shall mean charges paid for heat, gas, electric-
 15 ity and other services provided to a taxpayer by an entity subject to
 16 the jurisdiction of the public service commission.
 17 (4) Carryover of credit. If the amount of the credit, and carryovers
 18 of such credit, allowable under this subsection for any taxable year
 19 shall exceed the taxpayer's tax for such year, such excess amount may be
 20 carried over to the five taxable years next following the taxable year

 EXPLANATION--Matter in italics (underscored) is new; matter in brackets
 [ ] is old law to be omitted.
 LBD07466-01-5

 S. 4327 2

 1 with respect to which the credit is allowed and may be deducted from the
 2 taxpayer's tax for such year or years.
 3 (5) Application of credit. If the amount of the credit allowed under
 4 this subsection for any taxable year shall exceed the taxpayer's tax for
 5 such year, the excess shall be treated as an overpayment of tax to be
 6 credited or refunded in accordance with the provisions of section six
 7 hundred eighty-six of this article; provided, however, that no interest
 8 shall be paid thereon.
 9 (6) Administration. The commissioner shall have the authority to
 10 promulgate such rules and regulations as may be necessary for the proc-
 11 essing, determination and granting of credits under this subsection.
 12 § 2. The public service law is amended by adding a new section 18 to
 13 read as follows:
 14 § 18. Moratorium on surcharges. Notwithstanding the provisions of this
 15 chapter or of any law, rule, regulation or order to the contrary, the
 16 commission shall not impose or collect any surcharges associated with
 17 the system benefit charge, or the renewable portfolio standard, or the
 18 energy efficiency portfolio standard, or any similar fund that may be