Section 187-B. Alternative fuels credit

1. General. A taxpayer shall be
  allowed a credit,  to  be  credited  against  the  taxes  imposed  under
  sections  one  hundred  eighty-three,  one  hundred eighty-four, and one
  hundred eighty-five of this article. Such  credit,  to  be  computed  as
  hereinafter  provided,  shall  be  allowed  for alternative fuel vehicle
  refueling property placed in service during the taxable year.  Provided,
  however,  that  the  amount  of  such  credit  allowable against the tax
  imposed by section one hundred eighty-four of this article shall be  the
  excess  of  the  credit  allowed by this section over the amount of such
  credit  allowable  against  the  tax  imposed  by  section  one  hundred
  eighty-three of this article.
    2.  Alternative fuel vehicle refueling property. The credit under this
  section for alternative fuel  vehicle  refueling  property  shall  equal
  fifty percent of the cost of any such property:
    (a) which is located in this state; and
    (b)  for  which  a  credit  is  allowed  under section thirty C of the
  internal  revenue  code  but  not  including  alternative  fuel  vehicle
  refueling  property  relating  to  a  qualified  hybrid  vehicle as such
  vehicle is defined in subparagraph (B) of paragraph three of  subsection
  (p) of section six hundred six of this chapter.
    3.  Definitions.  (a)  The  term  "alternative  fuel vehicle refueling
  property" means any such property which is qualified within the  meaning
  of  section thirty C of the internal revenue code, but shall not include
  alternative fuel vehicle refueling  property  relating  to  a  qualified
  hybrid  vehicle  as  such  vehicle  is  defined  in  subparagraph (B) of
  paragraph three of subsection (p) of section six  hundred  six  of  this
  chapter.
    (b) The term "qualified hybrid vehicle" shall have the same meaning as
  provided for under subparagraph (B) of paragraph three of subsection (p)
  of section six hundred six of this chapter.
    4.  Carryovers.  In  no  event  shall the credit under this section be
  allowed in an amount which will reduce the tax payable to less than  the
  applicable  minimum tax fixed by section one hundred eighty-three or one
  hundred eighty-five of this article. If, however, the amount  of  credit
  allowable  under  this  section  for any taxable year reduces the tax to
  such amount, any amount of credit not deductible in  such  taxable  year
  may  be  carried over to the following year or years and may be deducted
  from the taxpayer's tax for such year or years.
    5. Credit recapture; Alternative fuel vehicle refueling property.  If,
  at  any  time  before  the  end of its recovery period, alternative fuel
  vehicle refueling property ceases to be qualified,  a  recapture  amount
  must be added back in the year in which such cessation occurs.
    (i)  Cessation  of  qualification.  Alternative fuel vehicle refueling
  property ceases to be qualified if:
    (I) the property no longer qualifies as property described in  section
  thirty C of the internal revenue code; or
    (II)  fifty  percent  or  more of the use of the property in a taxable
  year is other than a trade or business in this state; or
    (III) the taxpayer receiving the credit under this  section  sells  or
  disposes  of  the  property  and  knows  or  has reason to know that the
  property will be used in a manner described in this subparagraph.
    (ii) Recapture amount. The recapture amount is  equal  to  the  credit
  allowable  under this section multiplied by a fraction, the numerator of
  which is the total recovery period for the property minus the number  of
  recovery  years prior to, but not including, the recapture year, and the
  denominator of which is the total recovery period.

    6. Termination. The credit allowed by subdivision two of this  section
  shall  not apply in taxable years beginning after December thirty-first,
  two thousand ten.