Relates to exempting cranes from the petroleum business tax.
Summary
Bill S01628 proposes an amendment to the New York tax law, specifically targeting exemptions to the petroleum business tax. The bill introduces a new exemption for diesel and motor fuel utilized in the operation of cranes for off-road use. This exemption applies to various types of cranes, including mobile, hydraulic, crawler, floating, telescopic, gantry, and tower cranes. The intent behind this amendment is to alleviate the tax burden on businesses that rely on these machines for construction and other off-road activities.
Impact
If enacted, this bill would modify the existing tax framework by exempting specific fuel types used in crane operations from the petroleum business tax. This change could lead to reduced operational costs for companies that utilize cranes, potentially encouraging more construction and development projects within New York. The amendment may also affect state revenue from the petroleum business tax, depending on the extent of crane usage across industries.
Sentiment
The general sentiment surrounding Bill S01628 appears to be neutral, with no recorded votes or committee discussions indicating strong opposition or support. The lack of controversy suggests that the bill may be viewed as a straightforward adjustment to tax law, aimed at benefiting specific sectors without significant pushback from other stakeholders.
Contention
There are no notable points of contention reported in the discussions or voting history related to this bill. The absence of recorded votes and committee discussions suggests that the bill has not sparked significant debate among legislators or interest groups, indicating a consensus or lack of opposition regarding the proposed tax exemption.
Enacts the "New York small business growth and support act"; authorizes certain tax exemptions for newly established small businesses during their first three years of operations.
Relates to creating the Neighborhood Small Business Rent Increase Exemption; provides a tax abatement for limiting rent increases on small businesses in a city of one million or more persons.
Relates to creating the Neighborhood Small Business Rent Increase Exemption; provides a tax abatement for limiting rent increases on small businesses in a city of one million or more persons.