senate Bill S1358

Exempts from sales and use tax any geothermal systems

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Sponsor

Bill Status


  • Introduced
  • In Committee
  • On Floor Calendar
    • Passed Senate
    • Passed Assembly
  • Delivered to Governor
  • Signed/Vetoed by Governor
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actions

  • 28 / Jan / 2009
    • REFERRED TO ENERGY AND TELECOMMUNICATIONS
  • 06 / Jan / 2010
    • REFERRED TO ENERGY AND TELECOMMUNICATIONS

Summary

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Bill Details

Versions:
S1358
Legislative Cycle:
2009-2010
Current Committee:
Senate Energy And Telecommunications
Law Section:
Tax Law

Sponsor Memo

BILL NUMBER: S1358

TITLE OF BILL :

An act to amend the tax law, in relation to exempting from sales and
use taxes related to any geothermal systems


PURPOSE :

To grant a sales and use tax exemption to persons installing any
geothermal systems.

SUMMARY OF PROVISIONS :

Section 1 Subdivision (a) of section 1115 of the tax law is amended by
adding paragraph 43 which exempts sale or purchase of any geothermal
system from sales and use taxes.

JUSTIFICATION :

Sales and use tax exemption is an appropriate initiative that would
encourage more homeowners to install such systems thereby saving
energy and reducing reliance on other fuel sources.

LEGISLATIVE HISTORY :

2007-2008: S.8075

FISCAL IMPLICATIONS :

To be determined.

EFFECTIVE DATE :
This act shall take effect on the first day of a sales tax quarterly
period, as described in subdivision (b) of section 1136 of the tax
law, next commencing after this act shall have become a law.
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