A8832 — Relates to a tax credit for the purchase of new and used electric vehicles

Summary

Establishes a tax credit for the purchase of new and used electric cars; provides that for a new electric vehicle, the tax credit shall be $7,500 and the tax credit for a used electric vehicle shall be $4,000.

Bill Text

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Compared against the New York Consolidated Laws as published AI-generated reading aid — verify against the official bill.

This bill amends 1 section(s) of the New York Consolidated Laws: Section 210-B of the tax law.

• Section 210-B of the tax law

  61. Credit for purchase of electric vehicles. (a) A taxpayer shall be allowed a credit for taxable years beginning on or after January first, two thousand twenty-six against the tax imposed by this article for the purchase of new and used electric vehicles. The total amount of the credit for the purchase of a new electric vehicle shall be seven thou- sand five hundred dollars. The total amount of the credit for the purchase of a used electric vehicle shall be four thousand dollars. (b) For the purposes of this subdivision, the term "electric vehicles" shall mean motor vehicles, as defined by section one hundred twenty-five of the vehicle and traffic law, which are propelled by electric motors using electric energy stored in batteries or other energy storage devices. For the purposes of this subdivision, "electric vehicles" shall not include electric personal assistive mobility devices as defined by section one hundred fourteen-d of the vehicle and traffic law. (c) If the amount of credit allowable under this subdivision shall exceed the taxpayer's tax for such year, the excess may be carried over to the following year or years and may be deducted from the taxpayer's tax for such year or years. (d) If all or any part of the credit provided for under this subdivi- sion was allowed or carried over from a prior taxable year or years, a taxpayer shall reduce the allowable credit for additional qualifying expenditures in a subsequent tax year by the amount of the credit previ- ously allowed or carried over; provided however that a credit previously allowed or carried over from a prior taxable year or years shall not be taken into account in determining the allowable credit for the purchase of a new or used electric vehicle. italics (e) For the purpose of determining the amount of the actual expendi- ture incurred in the purchasing of a new or used electric vehicle, the amount of any federal, state or local grant received by the taxpayer, which was used for the purchase and which was not included in the gross income of the taxpayer, shall not be taken into account. (g-3) Credit for electric vehicles. (1) A taxpayer shall be allowed a credit for taxable years beginning on or after January first, two thou- sand twenty-six against the tax imposed by this article for the purchase of new and used electric vehicles. The total amount of the credit for the purchase of a new electric vehicle shall be seven thousand five hundred dollars. The total amount of the credit for the purchase of a used electric vehicle shall be four thousand dollars. (2) For the purposes of this subsection the term "electric vehicles" shall mean motor vehicles, as defined by section one hundred twenty-five of the vehicle and traffic law, which are propelled by electric motors using electric energy stored in batteries or other energy storage devices. For the purposes of this subsection, "electric vehicles" shall not include electric personal assistive mobility devices as defined by section one hundred fourteen-d of the vehicle and traffic law. (3) If the amount of credit allowable under this subsection shall exceed the taxpayer's tax for such year, the excess may be carried over to the following year or years and may be deducted from the taxpayer's tax for such year or years. (4) If all or any part of the credit provided for under this subsection was allowed or carried over from a prior taxable year or years, a taxpayer shall reduce the allowable credit for additional qual- ifying expenditures in a subsequent tax year by the amount of the credit previously allowed or carried over; provided however that a credit previously allowed or carried over from a prior taxable year or years shall not be taken into account in determining the allowable credit for the purchase of a new or used electric vehicle. (5) For the purpose of determining the amount of the actual expendi- ture incurred in the purchasing of a new or used electric vehicle, the amount of any federal, state or lo

  added

Action History

1. January 07, 2026

   REFERRED TO WAYS AND MEANS

2. June 09, 2025

   REFERRED TO WAYS AND MEANS

Sponsors

• Micah Lasher · Primary

Subjects