New York A 9138: Imposes an excise tax on energy used in digital asset mining using proof-of-work authentication methods

Bill Text

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A09138 Summary:

BILL NOA09138 

&nbsp

SAME ASSAME AS S08518

&nbsp

SPONSORKelles

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COSPNSRRosenthal, Burdick, Schiavoni, Simon, McMahon, Levenberg, Kay, Reyes, Glick, Shrestha, Kassay,
 Gallagher, Raga, Novakhov, Moreno

&nbsp

MLTSPNSR

&nbsp

Add §186-h, Tax L

&nbsp

Imposes an excise tax on any taxpayer engaged in the trade or business of digital asset mining; provides that taxes, interest, and penalties collected or received from such taxes shall be used for prompt assistance to utility customers enrolled in energy affordability programs.

Go to top A09138 Actions:

BILL NOA09138 

&nbsp

10/17/2025referred to ways and means

01/07/2026referred to ways and means

Go to topA09138 Committee&nbspVotes:

Go to topA09138 Floor&nbspVotes:

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

Go to topA09138 Text:

 STATE OF NEW YORK
 ________________________________________________________________________

 9138

 2025-2026 Regular Sessions

 IN ASSEMBLY

 October 17, 2025
 ___________

 Introduced by M. of A. KELLES -- read once and referred to the Committee
 on Ways and Means

 AN ACT to amend the tax law, in relation to imposing an excise tax on
 energy used in digital asset mining using proof-of-work authentication
 methods

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

 1 Section 1. The tax law is amended by adding a new section 186-h to
 2 read as follows:
 3 § 186-h. Excise tax on energy used in digital asset mining using
 4 proof-of-work authentication methods. 1. For the purposes of this
 5 section, the following terms shall have the following meanings:
 6 (a) "Affiliate" means, with respect to any specified entity, an entity
 7 that directly, or indirectly through one or more intermediaries,
 8 controls or is controlled by, or is under common control with, the enti-
 9 ty specified.
 10 (b) "Blockchain" means data that is:
 11 (i) shared across a network to create a ledger of verified trans-
 12 actions or information among network participants linked using cryptog-
 13 raphy to maintain the integrity of the ledger and to execute other func-
 14 tions; and
 15 (ii) distributed among network participants in an automated fashion to
 16 concurrently update network participants on the state of the ledger and
 17 any other functions.
 18 (c) "Control" (including the terms controlling, controlled by and
 19 under common control with) means the possession, direct or indirect, of
 20 the power to direct or cause the direction of the management and poli-
 21 cies of an entity, whether through the ownership of voting securities,
 22 by contract, or otherwise.
 23 (d) "Controlled group" means two or more entities that are affiliates
 24 of each other.

 EXPLANATION--Matter in italics (underscored) is new; matter in brackets
 [ ] is old law to be omitted.
 LBD10789-04-5

 A. 9138 2

 1 (e) "Digital asset" means an asset that is issued, transferred, or
 2 both, using distributed ledger or blockchain technology, including, but
 3 not limited to, digital currencies, digital coins, digital non-fungible
 4 tokens or other similar assets.
 5 (f) "Distributed ledger or blockchain technology" means a digital
 6 system for recording, storing, and sharing data or transactions across
 7 multiple computers or devices:
 8 (i) in which each participant maintains an identical copy of the
 9 ledger and updates are validated through a consensus mechanism among the
 10 participants rather than by a single centralized authority; and
 11 (ii) which employs cryptographic methods to ensure data integrity,
 12 chronological ordering, and resistance to unauthorized alteration of
 13 records.
 14 (iii) may take the form of a blockchain network or other data struc-
 15 tures that provide decentralized validation, transparency, and synchro-
 16 nization of records among participants, whether permissioned or permis-
 17 sionless, public or private.
 18 (g) "Digital asset mining using proof-of-work authentication methods"
 19 means the operation of specialized computer hardware or devices, includ-
 20 ing but not limited to application-specific integrated circuits (ASICs)
 21 or graphics processing units (GPUs) for the purpose of validation or
 22 authentication of transactions, recording data, or securing consensus