This bill suspends specific taxes on motor fuel and diesel fuel from June 1, 2026, through December 31, 2026, directly affecting fuel distributors and retailers. During this period, the suspension covers various state excise taxes and sales taxes, requiring sellers to lower their prices by the exact amount of the tax reduction. Additionally, the state will transfer funds equal to the lost tax revenue into dedicated transportation trust funds to maintain financial support for mass transit and highway projects. The legislation also ensures that retailers who previously paid these taxes can receive refunds or credits for the overpayment during the suspension window.
Relates to the transfer of funds into the metropolitan transportation authority aid trust account and the public transportation system operating assistance account.
Establishes a $25 annual supplemental motor vehicle registration fee for counties outside the Metropolitan Commuter Transportation District; dedicates the revenue to upstate public transportation systems.
Requires registration of electric scooter programs; establishes the street and sidewalk infrastructure fund for projects supporting the repair, maintenance, and improvement of streets, sidewalks, and related pedestrian infrastructure.
S 1528 establishes a tax on carbon-based fuels like coal, natural gas, and petroleum, imposed on fuel distributors and utilities based on carbon dioxide emissions. The tax starts at $35 per ton of carbon dioxide equivalent and increases by $15 annually to a maximum of $185 per ton. Revenue from the tax funds a dedicated "Carbon Dioxide Emissions Fund," with 60% returned as tax credits to low-to-moderate income residents (below 115% of area median income) and 40% allocated to clean energy transition, mass transit, and climate adaptation projects. The bill requires annual reporting by distributors and utilities and mandates public reporting on tax adjustments to address inflation and climate goals.
Bill A 7308 establishes a tax credit for producers of sustainable aviation fuel (SAF) sold in the state for flights departing within the state. Starting January 1, 2025, producers can claim $1 per gallon, increasing by two cents for each additional one percent reduction in carbon dioxide emissions above 50%, up to a maximum of $2 per gallon. To be eligible, producers must obtain a certificate from the New York State Energy Research and Development Authority (NYSERDA). The bill defines SAF as liquid fuel derived from renewable or waste sources, excluding palm or petroleum, that achieves at least a 50% lifecycle greenhouse gas emission reduction. The total amount of tax credits issued annually is capped at $30 million, and any credit exceeding a taxpayer's liability will be refunded.
Repeals provisions relating to imposition of a highway use tax for the privilege of operating any vehicular unit upon the public highways of the state.
Establishes a sustainable aviation fuel tax credit at a rate of $1.25 per gallon, or $1.50 per gallon for sustainable aviation fuels made with domestically produced corn and/or soybeans; creates a certification process for aviation fuel as sustainable aviation fuel under NYSERDA; directs the NYS climate action council to incorporate the use of sustainable aviation fuel in its updated scoping plan.
Requires the deposit, into the dedicated highway and bridge trust fund, of a portion of the sales tax collected on each gallon of motor fuel sold at retail; increases the amount to be deposited over time.
Requires the department of transportation to study the regional fairness of state funding for local roadway paving purposes, including but not limited to the Consolidated Local Street and Highway Improvement Program (CHIPS), State Touring Routes program, PAVE-NY, Pave Our Potholes (POP), and other existing local roadway aid programs, and to make recommendations concerning the reinstatement of the suburban highway improvement program (SHIPS) funding program.
