Exempts low-emission and energy efficient vehicles from retail sales and compensating use taxes.

The bill amends the tax law to exempt low-emission and energy efficient vehicles from retail sales and compensating use taxes. A "low-emission and energy efficient vehicle" is defined as one certified by the United States Environmental Protection Agency or one that achieves high scores on the Green Vehicle Guide. The Department of Environmental Conservation will maintain a list of these vehicles on its website. The tax exemptions will be offset by proceeds from the auction of emission allowances, not exceeding $27 million.

Exempts low-emission and energy efficient vehicles from retail sales and compensating use taxes.

The bill amends the tax law to exempt low-emission and energy efficient vehicles from retail sales and compensating use taxes. A "low-emission and energy efficient vehicle" is defined as one certified by the United States Environmental Protection Agency or one that achieves high scores on the Green Vehicle Guide. The Department of Environmental Conservation will maintain a list of these vehicles on its website. The tax exemptions will be offset by proceeds from the auction of emission allowances, not exceeding $27 million.