New York 2025-2026 Regular Session

New York Assembly Bill A08832

Introduced
6/9/25  

Caption

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.

Impact

The introduction of tax credits for electric vehicle purchases is expected to have a significant impact on state laws, encouraging a transition towards cleaner transportation. It could lead to an increase in electric vehicle sales, which may help reduce greenhouse gas emissions produced by conventional vehicles. The proposed measure could also stimulate economic activity within the automotive sector, particularly affecting businesses involved in the sale and manufacturing of electric cars. However, it may impact state tax revenue, as these credits will reduce the total tax collected from vehicle sales.

Summary

Bill A08832 aims to amend the tax law to introduce a tax credit for the purchase of new and used electric vehicles in New York. The bill allows taxpayers to claim a credit of $7,500 for new electric vehicles and $4,000 for used electric vehicles, beginning from the tax year starting January 1, 2026. This initiative is designed to promote the adoption of electric vehicles, aligning with broader state goals of reducing emissions and fostering environmental sustainability. By incentivizing the purchase of electric cars, the state seeks to relieve some financial burdens on consumers while contributing to environmental goals.

Contention

One notable point of contention surrounding A08832 could be its implications for equity among consumers. While the tax credits are intended to incentivize the purchase of electric vehicles, critics may argue that such measures primarily benefit higher-income individuals who can afford new or used electric vehicles. If economic disparities are not addressed, the bill could inadvertently widen the gap in access to environmentally friendly options. Additionally, there may be debates regarding the sufficiency of the tax credit amounts and whether they are adequate to motivate consumers to make the switch to electric vehicles.

Companion Bills

NY S08113

Same As 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.

Previously Filed As

NY S04304

Provides that credits for excess electricity generated by customer-generators subject to net energy metering by an electric corporation or the Long Island power authority may be carried over indefinitely and used against any charges imposed by an electric corporation or the Long Island power authority when the customer-generator uses more electricity than such customer generates; provides for the accounting of credits once every 5 years and the electric corporation or Long Island power authority shall reimburse the customer-generator for the accumulated credits.

NY A02451

Establishes a tax credit for electric vehicle charging stations task force to recommend a program for a tax credit for commercial property owners who install electric vehicle charging stations on such property.

NY S05760

Provides a tax credit for the purchase or conversion of an electric vessel or zero emission vessel; provides a tax credit for electric vessel recharging property.

NY S00336

Imposes an additional two percent sales tax on retail sales of motor vehicles over $70,000, excluding commercial vehicles and electric vehicles, jewelry over $5,000 and articles of clothing, footwear, handbags, luggage, umbrellas, wallets or watches sold for over $1,000; provides that such tax shall be distributed equally to the credit of the state university of New York and the city university of New York.

NY A00537

Imposes an additional two percent sales tax on retail sales of motor vehicles over $70,000, excluding commercial vehicles and electric vehicles, jewelry over $5,000 and articles of clothing, footwear, handbags, luggage, umbrellas, wallets or watches sold for over $1,000; provides that such tax shall be distributed equally to the credit of the state university of New York and the city university of New York.

NY S01630

Provides that each electric corporation shall establish a unique priority phone number that shall remain in operation every day of the year for customers who have documented their need for essential electricity for medical needs; makes related provisions.

NY A03503

Provides that each electric corporation shall establish a unique priority phone number that shall remain in operation every day of the year for customers who have documented their need for essential electricity for medical needs; makes related provisions.

NY S06327

Establishes new targets for offshore wind electricity generation; includes the requirements that there is at least 9,900 megawatts of offshore wind electricity generation by 2035, 15,800 megawatts of offshore wind electricity generation by 2040, at least 18,000 megawatts of offshore wind electricity generation by 2045 and at least 20,000 megawatts of offshore wind electricity generation by 2050.

NY A07407

Establishes new targets for offshore wind electricity generation; includes the requirements that there is at least 9,900 megawatts of offshore wind electricity generation by 2035, 15,800 megawatts of offshore wind electricity generation by 2040, at least 18,000 megawatts of offshore wind electricity generation by 2045 and at least 20,000 megawatts of offshore wind electricity generation by 2050.

NY A06106

Establishes a tax credit for full-time nurses and a tax credit for teaching nurses; provides that the amount of such credit shall be five hundred dollars.

Similar Bills

No similar bills found.