S 4327

                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
                                   4327
                        2025-2026 Regular Sessions
                             I N  S E N A T E
                             February 4, 2025
                                ___________
 Introduced  by  Sens. ASHBY, BORRELLO, TEDISCO -- read twice and ordered
   printed, and when printed to be committed to the Committee  on  Budget
   and Revenue
 AN  ACT  to amend the tax law and the public service law, in relation to
   providing a tax credit for certain utility bill  payments  and  estab-
   lishing  a moratorium on certain surcharges thereon; and providing for
   the repeal of certain provisions of the public service law upon  expi-
   ration thereof
   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:
   Section 1. Section 606 of the tax law  is  amended  by  adding  a  new
 subsection (qqq) to read as follows:
   (QQQ) CREDIT FOR UTILITY CHARGES. (1) ALLOWANCE OF CREDIT. FOR TAXABLE
 YEARS  BEGINNING ON OR AFTER JANUARY FIRST, TWO THOUSAND TWENTY-FIVE AND
 ENDING DECEMBER  THIRTY-FIRST,  TWO  THOUSAND  TWENTY-SIX,  A  QUALIFIED
 TAXPAYER  SHALL  BE ALLOWED A CREDIT TO BE COMPUTED AS PROVIDED IN PARA-
 GRAPH TWO OF THIS SUBSECTION AGAINST THE TAX IMPOSED BY THIS ARTICLE.
   (2) COMPUTATION OF CREDIT. THE AMOUNT OF THE CREDIT ALLOWED UNDER THIS
 SUBSECTION SHALL BE THE DIFFERENCE OF THE TOTAL UTILITY CHARGES PAID  BY
 THE  TAXPAYER DURING THE TAXABLE YEAR IN WHICH THE CREDIT IS CLAIMED AND
 THE AVERAGE OF THE TAXPAYER'S TOTAL UTILITY PAYMENTS  DURING  THE  THREE
 TAXABLE YEARS IMMEDIATELY PRECEDING THE TAXABLE YEAR IN WHICH THE CREDIT
 IS CLAIMED.
   (3)  "UTILITY COSTS" SHALL MEAN CHARGES PAID FOR  HEAT, GAS, ELECTRIC-
 ITY AND OTHER SERVICES PROVIDED TO A TAXPAYER BY AN  ENTITY  SUBJECT  TO
 THE JURISDICTION OF THE PUBLIC SERVICE COMMISSION.
   (4)  CARRYOVER  OF CREDIT. IF THE AMOUNT OF THE CREDIT, AND CARRYOVERS
 OF SUCH CREDIT, ALLOWABLE UNDER THIS SUBSECTION  FOR  ANY  TAXABLE  YEAR
 SHALL EXCEED THE TAXPAYER'S TAX FOR SUCH YEAR, SUCH EXCESS AMOUNT MAY BE
 CARRIED  OVER  TO THE FIVE TAXABLE YEARS NEXT FOLLOWING THE TAXABLE YEAR
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD07466-01-5
 S. 4327                             2
 WITH RESPECT TO WHICH THE CREDIT IS ALLOWED AND MAY BE DEDUCTED FROM THE
 TAXPAYER'S TAX FOR SUCH YEAR OR YEARS.
   (5)  APPLICATION  OF CREDIT. IF THE AMOUNT OF THE CREDIT ALLOWED UNDER
 THIS SUBSECTION FOR ANY TAXABLE YEAR SHALL EXCEED THE TAXPAYER'S TAX FOR
 SUCH YEAR, THE EXCESS SHALL BE TREATED AS AN OVERPAYMENT OF  TAX  TO  BE
 CREDITED  OR  REFUNDED  IN ACCORDANCE WITH THE PROVISIONS OF SECTION SIX
 HUNDRED EIGHTY-SIX OF THIS ARTICLE; PROVIDED, HOWEVER, THAT NO  INTEREST
 SHALL BE PAID THEREON.
   (6)  ADMINISTRATION.  THE  COMMISSIONER  SHALL  HAVE  THE AUTHORITY TO
 PROMULGATE SUCH RULES AND REGULATIONS AS MAY BE NECESSARY FOR THE  PROC-
 ESSING, DETERMINATION AND GRANTING OF CREDITS UNDER THIS SUBSECTION.
   §  2.  The public service law is amended by adding a new section 18 to
 read as follows:
   § 18. MORATORIUM ON SURCHARGES. NOTWITHSTANDING THE PROVISIONS OF THIS
 CHAPTER OR OF ANY LAW, RULE, REGULATION OR ORDER TO  THE  CONTRARY,  THE
 COMMISSION  SHALL  NOT  IMPOSE OR COLLECT ANY SURCHARGES ASSOCIATED WITH
 THE SYSTEM BENEFIT CHARGE, OR THE RENEWABLE PORTFOLIO STANDARD,  OR  THE
 ENERGY  EFFICIENCY  PORTFOLIO  STANDARD, OR ANY SIMILAR FUND THAT MAY BE
 CREATED BY ORDER OF THE COMMISSION BEFORE THE  EFFECTIVE  DATE  OF  THIS
 SECTION,  WHETHER  SUCH  FUND  IS NEW OR IS A RESULT OF COMBINING ALL OR
 SOME OF THE SURCHARGES REFERENCED HEREIN.
   § 3. This act shall take effect immediately; provided that section two
 of this act shall  expire  April  1,  2026,  when  upon  such  date  the
 provisions of such section shall be deemed repealed.