New York S04065 establishes a tax credit for sustainable aviation fuel, with eligibility based on lifecycle greenhouse gas emissions reductions.

New York S04065 introduces a tax credit for sustainable aviation fuel, which must achieve at least a 50% reduction in lifecycle greenhouse gas emissions compared to petroleum-based jet fuel. The credit amount increases by two cents per gallon for each additional one percent reduction in carbon dioxide equivalent emissions above 50%, up to a maximum of two dollars per gallon. To claim the credit, taxpayers must obtain a certificate from the New York State Energy Research and Development Authority.

New York S04065 establishes a tax credit for sustainable aviation fuel, with eligibility based on lifecycle greenhouse gas emissions reductions.

New York S04065 introduces a tax credit for sustainable aviation fuel, which must achieve at least a 50% reduction in lifecycle greenhouse gas emissions compared to petroleum-based jet fuel. The credit amount increases by two cents per gallon for each additional one percent reduction in carbon dioxide equivalent emissions above 50%, up to a maximum of two dollars per gallon. To claim the credit, taxpayers must obtain a certificate from the New York State Energy Research and Development Authority.