New York S05366 provides a tax credit to corporations for purchasing green construction equipment.

New York S05366 amends the tax law to offer a tax credit to corporations that buy qualified green construction equipment. The credit equals thirty percent of the total expenses incurred during the taxable year for purchasing such equipment. Qualified green construction equipment includes heavy-duty vehicles designed for construction tasks and earthwork operations, which must not produce greenhouse gas emissions, utilize fossil fuels, or emit toxic chemicals. The total credits available in any calendar year are capped at ten million dollars, with allocation determined by the commissioner.

New York S05366 provides a tax credit to corporations for purchasing green construction equipment.

New York S05366 amends the tax law to offer a tax credit to corporations that buy qualified green construction equipment. The credit equals thirty percent of the total expenses incurred during the taxable year for purchasing such equipment. Qualified green construction equipment includes heavy-duty vehicles designed for construction tasks and earthwork operations, which must not produce greenhouse gas emissions, utilize fossil fuels, or emit toxic chemicals. The total credits available in any calendar year are capped at ten million dollars, with allocation determined by the commissioner.