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Bill

S 8113

Relates to a tax credit for the purchase of new and used electric vehicles

2025 Regular Session Introduced by Jeremy Cooney

New York would create a state tax credit for buying both new and used electric vehicles, aimed at individual buyers and the EV market to boost clean transport in the state.

REFERRED TO BUDGET AND REVENUE
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Bill Summary · S 8113

Summary of Bill S 8113 (New York)

Overview

  • Bill: S 8113
  • Title: Relates to a tax credit for the purchase of new and used electric vehicles
  • Sponsor: Jeremy Cooney (primary)
  • Status: REFERRED TO BUDGET AND REVENUE
  • Introduced: May 15, 2025
  • Companion: A 8832 (Assembly)

Note: The information provided here reflects the details given in the bill summary. The full text would specify the exact credit structure, eligibility, and administrative provisions.

Purpose and Intent

  • The bill seeks to establish a tax credit to encourage the purchase of electric vehicles (EVs), including both new and used models.
  • By creating a state-level incentive, the measure aims to promote cleaner transportation, reduce greenhouse gas emissions, and support the adoption of EVs within the state.

Key Provisions (as described)

  • Establishment of a tax credit for purchasers of electric vehicles (both new and used).
  • The bill will define who is eligible, what types of vehicles qualify, and the credit amount and duration. Specific figures (credit amounts, caps, income limits, vehicle eligibility criteria, phase-outs, etc.) are not provided in the available summary.
  • Provisions would be codified into the state tax framework, with administration and enforcement likely handled by the relevant department (e.g., Department of Taxation and Finance), subject to the bill’s text.

Who Would Be Affected

  • Individual EV buyers (and potentially joint filers) who purchase qualifying new or used electric vehicles.
  • Potential impact on car dealers and the broader EV market within the state, depending on how the credit is structured and claimed.
  • State revenues and budgeting, given the bill’s referral to Budget and Revenue for consideration.

Implementation Timeline and Process

  • Introduced on May 15, 2025.
  • Referred to the Budget and Revenue committee, indicating the bill will undergo fiscal review and discussion before any floor action.
  • No additional actions or final passage dates are listed in the provided information.

Financial and Administrative Implications

  • As a budget-related measure, the bill would have fiscal implications for state revenue; a fiscal note would typically accompany such a proposal.
  • Details on funding sources, credit caps, sunset provisions, and interaction with federal EV incentives are not specified in the summary.

Relationship to Related Legislation

  • Companion bill in the Assembly: A 8832 (listed twice in the summary, indicating parallel activity in both chambers).

Next Steps

  • Further committee consideration, potential amendments, and eventual floor votes in the Senate and Assembly.
  • Release of detailed bill text would clarify eligibility criteria, credit amounts, phase-out schedules, application procedures, and any sunset or renewal provisions.

Compiled from official sources — confirm details with the bill’s official record.

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