2010 New York Code
TAX - Tax
Article 13-A - (300 - 315) TAX ON PETROLEUM BUSINESSES
301-D - Utility credit or reimbursement.

§  301-d.  Utility credit or reimbursement. (a) Gallonage eligible for
  credit  or  reimbursement.  An  electric  corporation,  as  defined   in
  subdivision  thirteen  of section two of the public service law, subject
  to the supervision  of  the  department  of  public  service,  shall  be
  entitled  to  a  credit against the tax imposed by section three hundred
  one-a of this article or a reimbursement of such tax with respect to the
  following gallonage:
    (1) Credit. Residual petroleum product and diesel motor fuel (which is
  not enhanced diesel motor fuel) (i) imported into  this  state  by  such
  electric  corporation  which  is  a  petroleum  business  where  the tax
  liability under section three hundred one-a of this article  is  imposed
  on  such electric corporation and where the residual petroleum or diesel
  product so imported  is  used  by  such  electric  corporation  to  fuel
  generators  for the purpose of manufacturing or producing electricity or
  (ii) purchased in this state by such electric corporation by the use  of
  a  valid direct payment permit whereby such electric corporation assumed
  full liability for tax with respect to such product where  such  product
  so purchased is used by such electric corporation to fuel generators for
  the purpose of manufacturing or producing electricity.
    (2) Reimbursement.  Residual  petroleum  product and diesel motor fuel
  (which is not enhanced diesel motor fuel) purchased  in  this  state  by
  such electric corporation where the tax imposed by section three hundred
  one-a  of this article with respect to such residual petroleum or diesel
  product was paid and the utility absorbed such tax in the purchase price
  of such fuel and where such product is used by such electric corporation
  to fuel  generators  for  the  purpose  of  manufacturing  or  producing
  electricity.
    (b)  Calculation.   The amount of the credit or reimbursement shall be
  determined by  multiplying  the  gallonage  of  the  residual  petroleum
  product  eligible for the credit or reimbursement times the basic credit
  or reimbursement per gallon of two and ninety-eight hundredths cents and
  by multiplying the gallonage of all diesel product eligible  for  credit
  or  reimbursement  times the basic credit or reimbursement per gallon of
  three cents.  The basic credit or reimbursement per gallon for  residual
  petroleum  product and diesel product shall be adjusted at the same time
  and in the same manner as set forth  in  subdivisions  (f)  and  (g)  of
  section  three  hundred  one-a  of  this  article for the motor fuel and
  diesel motor fuel rate and the residual petroleum product rate. All  the
  provisions  of  subdivision  (h)  of  such  section  shall apply to such
  adjusted  credit  or  reimbursement  and   such   adjusted   credit   or
  reimbursement shall be published at the same time and in the same manner
  as  such  rates  are published.   The credit or reimbursement determined
  pursuant to this section shall be rounded to the  nearest  one-hundredth
  of  a  cent.    Provided, however, that on April first, nineteen hundred
  ninety-nine, there shall be added to the basic credit  or  reimbursement
  amount,  with  respect  to  both  residual  petroleum product and diesel
  product, as then adjusted and in effect, the amount  of  one-half  cent.
  On  the  immediately  following  first  day  of January and each January
  thereafter, there shall be added to the basic  credit  or  reimbursement
  amount,  with  respect  to  both  residual  petroleum product and diesel
  product, as then adjusted and in effect on such  date  (determined  with
  respect  to  the  basic  credit  or  reimbursement  amount only, without
  reference to such one-half cent), the amount of one-half cent.
    (c) Application of the credit or reimbursement. The  credit  shall  be
  applied against liability for tax under this article for the same period
  during  which  the  credit  arose. Any excess may then be applied to tax
  liability under this article for subsequent periods.

(d) Any reimbursement of tax may be applied for not  more  often  than
  monthly.  An  electric  corporation entitled to reimbursement under this
  section, in lieu of such reimbursement, may take credit  therefor  on  a
  return filed under this article.