New York A 7308: Establishes a sustainable aviation fuel tax credit

Bill Text

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A07308 Summary:

BILL NOA07308A

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SAME ASSAME AS S04065-C

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SPONSORBarrett

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COSPNSRHyndman, Burdick, Lupardo, Tapia, Magnarelli, Burroughs, Stern, Lucas, Kassay, Shimsky, Meeks,
 Levenberg, Cruz, Hevesi, Torres, Stirpe, Bronson, Eachus, Taylor, Griffin, Cunningham, Dais,
 Weprin, Berger, Seawright, Benedetto, Simone, Solages, Conrad, Zinerman, Paulin

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MLTSPNSR

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Add §5-112, Energy L; add §§50 & 187-s, amd §§210-B & 606, Tax L

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Establishes a sustainable aviation fuel tax credit and eligibility criteria for such tax credit.

Go to top A07308 Actions:

BILL NOA07308A

&nbsp

03/25/2025referred to ways and means

04/28/2025amend and recommit to ways and means

04/28/2025print number 7308a

01/07/2026referred to ways and means

Go to topA07308 Committee&nbspVotes:

Go to topA07308 Floor&nbspVotes:

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

Go to topA07308 Text:

 STATE OF NEW YORK
 ________________________________________________________________________

 7308--A

 2025-2026 Regular Sessions

 IN ASSEMBLY

 March 25, 2025
 ___________

 Introduced by M. of A. BARRETT, HYNDMAN, BURDICK, LUPARDO, TAPIA,
 MAGNARELLI, BURROUGHS, STERN, LUCAS, KASSAY, SHIMSKY, MEEKS, LEVEN-
 BERG, CRUZ, HEVESI -- read once and referred to the Committee on Ways
 and Means -- committee discharged, bill amended, ordered reprinted as
 amended and recommitted to said committee

 AN ACT to amend the energy law and the tax law, in relation to estab-
 lishing a sustainable aviation fuel tax credit in New York state

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

 1 Section 1. The energy law is amended by adding a new section 5-112 to
 2 read as follows:
 3 § 5-112. Sustainable aviation fuel tax credit. 1. Except as otherwise
 4 provided under this section, a sustainable aviation fuel producer may
 5 claim a credit against the tax imposed by section three hundred one-e of
 6 the tax law in an amount equal to one dollar per gallon of sustainable
 7 aviation fuel purchased in this state during the tax year by a business
 8 for use as fuel for flights departing in this state. The amount of cred-
 9 it per gallon allowed under this section increases by two cents for each
 10 additional one percent reduction in carbon dioxide equivalent emissions
 11 above fifty percent but shall not exceed two dollars per gallon.
 12 2. A taxpayer shall not claim a credit under this section unless the
 13 office issued a certificate to the taxpayer. The taxpayer shall attach
 14 the certificate to their annual return on which a credit under this
 15 section is claimed. The certificate required under this subdivision
 16 shall state all of the following:
 17 a. The name, business address, and tax identification number of the
 18 taxpayer.
 19 b. The total amount of gallons of sustainable aviation fuel that is
 20 purchased in this state during the tax year from the taxpayer and to be
 21 used as fuel in an aircraft departing from an airport in this state.

 EXPLANATION--Matter in italics (underscored) is new; matter in brackets
 [ ] is old law to be omitted.
 LBD08509-06-5

 A. 7308--A 2

 1 c. The number of gallons of sustainable aviation fuel for which the
 2 percentage reduction in carbon dioxide equivalent emissions is above
 3 fifty percent and that percentage amount.
 4 3. If the amount of the credit allowed under this section exceeds the
 5 taxpayer's tax liability for the tax year, that portion that exceeds the
 6 tax liability for the tax year shall be refunded.
 7 4. As used in this section, the following terms shall have the follow-
 8 ing meanings:
 9 a. "Aviation fuel" means kero-jet fuel and gasoline as that term is
 10 described in subdivision (a) of section three hundred one-b of the tax
 11 law.
 12 b. "Biomass" means any organic matter that is available on a renewable
 13 or recurring basis, including agricultural crops, wood and wood waste
 14 and residues, plants including aquatic plants, grasses, residues,
 15 fibers, animal waste, and the organic portion of solid wastes.
 16 c. "Carbon dioxide equivalent" shall have the same meaning as subdivi-
 17 sion two of section 75-0101 of the environmental conservation law.
 18 d. "Carbon intensity" means the quantity of