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S 5992 New York Senate · 2025 Regular Session

Creates a small business electric energy tax credit

Summary
Creates a small business electric energy tax credit; specifies that the amount of credit shall be equal to the product of $0.02 per kilowatt hour; sets limit of no more than 19 full-time employees in New York state; determines that if the business is located at the primary residence of a sole proprietor, the business is not eligible for the tax credit.
Issues: ✓ Budget & TaxesSupports Budget & TaxesCreates tax credit reducing small business tax liability, providing targeted tax relief for eligible entities per bill's explicit language and fiscal support indicators.95% confidence ✓ EnergySupports EnergyCreates tax credit for small business electricity use, incentivizing energy consumption and supporting clean energy adoption through financial relief for eligible businesses.90% confidence ✓ EnvironmentSupports EnvironmentTax credit for electric energy use promotes clean energy adoption, aligning with environmental protection goals by incentivizing reduced fossil fuel reliance.85% confidence
Bill status in committee 1 of 4 stages cleared
Introduction
Mar 2025
Committee Review
Floor Vote
Governor
Introduced Mar 4, 2025 Last action Jan 7, 2026
Floor votes

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Full legislative history

Actions timeline

Total actions
2
Key actions
0
Committee
2
Jan 7, 2026
Committee
REFERRED TO BUDGET AND REVENUE
upper
Mar 4, 2025
Committee
REFERRED TO BUDGET AND REVENUE
upper
1 primary · 0 co-sponsors

Sponsors

Role
Legislator
Party
State
District
P
Photo of April Baskin
April Baskin
DDemocratic
NY
63