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

This bill amends the tax law to exempt low-emission and energy efficient vehicles from retail sales and compensating use taxes. It defines a "low-emission and energy efficient vehicle" as one certified by the United States Environmental Protection Agency or one with specific air pollution and greenhouse gas scores. The Department of Environmental Conservation must maintain a list of these vehicles on its website. The tax exemptions will be offset by proceeds from the auction of emissions allowances. The bill will take effect ninety days after becoming law and will expire on December 31, 2028.

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

This bill amends the tax law to exempt low-emission and energy efficient vehicles from retail sales and compensating use taxes. It defines a "low-emission and energy efficient vehicle" as one certified by the United States Environmental Protection Agency or one with specific air pollution and greenhouse gas scores. The Department of Environmental Conservation must maintain a list of these vehicles on its website. The tax exemptions will be offset by proceeds from the auction of emissions allowances. The bill will take effect ninety days after becoming law and will expire on December 31, 2028.