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A05646 Summary:

BILL NOA05646
 
SAME ASSAME AS S04714
 
SPONSORWalker
 
COSPNSRColton, Peoples-Stokes, Mosley, Crespo, Simon, Bichotte, Hooper, Blake
 
MLTSPNSRRichardson
 
Amd 606, Tax L
 
Relates to increasing the tax credit provided for solar energy system equipment from $5,000 to $10,000.
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A05646 Text:



 
                STATE OF NEW YORK
        ________________________________________________________________________
 
                                          5646
 
                               2017-2018 Regular Sessions
 
                   IN ASSEMBLY
 
                                    February 14, 2017
                                       ___________
 
        Introduced  by  M. of A. WALKER, COLTON, PEOPLES-STOKES, MOSLEY, CRESPO,
          SIMON, BICHOTTE, HOOPER, BLAKE -- Multi-Sponsored by -- M. of A. RICH-
          ARDSON -- read once and referred to the Committee on Ways and Means
 
        AN ACT to amend the tax law, in relation to increasing  the  tax  credit
          provided for solar energy system equipment

          The  People of the State of New York, represented in Senate and Assem-
        bly, do enact as follows:
 
     1    Section 1. Paragraph 1 of subsection (g-1) of section 606 of  the  tax
     2  law,  as  amended by chapter 375 of the laws of 2012, is amended to read
     3  as follows:
     4    (1) General. An individual taxpayer shall be allowed a credit  against
     5  the  tax  imposed by this article equal to twenty-five percent of quali-
     6  fied solar energy system equipment expenditures, except as  provided  in
     7  subparagraph  (D) of paragraph two of this subsection. This credit shall
     8  not exceed three thousand seven  hundred  fifty  dollars  for  qualified
     9  solar  energy  equipment  placed  in service before September first, two
    10  thousand six, and five  thousand  dollars  for  qualified  solar  energy
    11  equipment  placed  in  service on or after September first, two thousand
    12  six and prior to September first, two thousand seventeen, and ten  thou-
    13  sand  dollars  for qualified solar energy equipment placed in service on
    14  or after September first, two thousand seventeen.
    15    § 2. This act shall take effect immediately and shall apply to taxable
    16  years commencing on and after January 1, 2017.
 
 
 
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD06186-01-7
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