BILL NUMBER: S8463
SPONSOR: ROLISON
 
TITLE OF BILL:
An act to amend the tax law and the state finance law, in relation to
establishing a one-year utility bill tax and surcharge holiday; and to
amend the tax law, in relation to establishing a two-year green energy
tax holiday
 
PURPOSE:
To establish a one-year utility bill tax and surcharge holiday and a
two-year green energy tax holiday to provide relief to New York families
that are facing skyrocketing utility bills.
 
SUMMARY OF PROVISIONS:
Section 1. Provides a one-year utility bill tax and surcharge holiday.
The following taxes would be exempt from utility customers' bills:
gross receipts tax and sales tax. The following surcharges would be
exempt from utility customers' bills: system benefits charge, temporary
state assessment/incremental state assessment charge and the renewable
portfolio standard charge.
Section 2. Provides no tariff or surcharge assessed for the construction
or implementation of renewable energy systems, electric vehicle ready
infrastructure or electric vehicle charging stations may be imposed on a
utility ratepayers' bill for a period of two years.
Section 3. Within 45 days after the applicable period begins, the Comp-
troller, in consultation with the Director of the Division of Budget,
must transfer from the general fund an amount equal to the amount that
would have otherwise been deposited in such accounts if the tax
exemptions had not been authorized.
 
EXISTING LAW:
None.
 
JUSTIFICATION:
These tax and surcharge holidays would provide significant and immediate
financial relief to utility ratepayers who are currently experiencing
skyrocketing utility bills. Government charges, such as taxes and
surcharges, account for around 20% of the utility bill.
 
LEGISLATIVE HISTORY:
None.
 
FISCAL IMPLICATIONS:
None.
 
LOCAL FISCAL IMPLICATIONS:
None.
 
EFFECTIVE DATE:
This act shall take effect immediately.