EBA/NYS Urges Spitzer to Support Clean Heating Fuel Credit

ALBANY, NY (01/03/2008)(readMedia)-- The Environmental Business Association of New York State, Inc. (“EBA/NYS”) today urged Governor Elliot Spitzer to support A.9534, Heating Equipment Tax Credit/Clean Heating Fuel Credit. This legislation, which will extend the allowance of New York State tax credits for the installation of energy efficient home heating systems and the utilization of biofuel-based home heating fuel is critical to this emerging industry.

This bill would extend the personal income tax credit allowed toward the cost of replacing a home heating system with an energy star unit for two years. It will also extend the tax credit for the use of bio-heat for residential home heating against the corporate franchise tax and personal income tax for four years.

The tax credits demonstrate positive environmental and economic development impacts throughout the State of New York. The EBA /NYS Biofuels Industries Committee is comprised of representatives of large and small development and service companies, colleges, universities, and agricultural businesses dedicated to the successful and appropriate development of clean, domestically-produced renewable fuels. The committee will continue efforts in New York to support farmers, stimulate the economy, create new jobs, improve the environment, and reduce New York’s dependence on imported fossil fuels.

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