NY State Senate Bill 2009-S7710

Senate Bill S7710

2009-2010 Legislative Session

Provides for separate personal income tax credits for solar electric, solar thermal and wind energy systems installed upon the residence of a taxpayer

download bill text pdf

Archive: Last Bill Status - In Senate Committee Investigations And Government Operations Committee

Introduced
- In Committee Assembly
- In Committee Senate
- On Floor Calendar Assembly
- On Floor Calendar Senate
- Passed Assembly
- Passed Senate
Delivered to Governor
Signed By Governor

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Actions

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	Assembly Actions - Lowercase Senate Actions - UPPERCASE
May 04, 2010	referred to investigations and government operations

2009-S7710 (ACTIVE) - Details

See Assembly Version of this Bill:: A9930
Current Committee:: Senate Investigations And Government Operations
Law Section:: Tax Law
Laws Affected:: Amd §606, Tax L
Versions Introduced in Other Legislative Sessions:: 2011-2012: S3238, A4247
2013-2014: A6312

2009-S7710 (ACTIVE) - Summary

Provides for separate personal income tax credits for solar electric, solar thermal and wind energy systems installed upon any residence of a taxpayer.

2009-S7710 (ACTIVE) - Sponsor Memo

2009-S7710 (ACTIVE) - Bill Text download pdf

                            
                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                  7710

                            I N  S E N A T E

                               May 4, 2010
                               ___________

Introduced  by Sen. THOMPSON -- read twice and ordered printed, and when
  printed to be committed to the Committee on Investigations and Govern-
  ment Operations

AN ACT to amend the tax law, in relation  to  the  personal  income  tax
  credit for solar and wind energy systems

  THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section 1. Paragraph 1 of subsection (g-1) of section 606 of  the  tax
law,  as  amended by chapter 378 of the laws of 2005, is amended to read
as follows:
  (1) General. An individual taxpayer shall be allowed a credit  against
the  tax  imposed by this article equal to twenty-five percent of quali-
fied solar energy system equipment expenditures. This credit  shall  not
exceed  (A)  three  thousand  seven  hundred fifty dollars for qualified
solar energy equipment placed in service  before  September  first,  two
thousand  six,  and (B) five thousand dollars for qualified solar energy
equipment placed in service on or after September  first,  two  thousand
six  BUT  PRIOR  TO THE EFFECTIVE DATE OF SUBPARAGRAPH (C) OF THIS PARA-
GRAPH, AND (C) FIVE THOUSAND DOLLARS FOR QUALIFIED SOLAR EQUIPMENT  THAT
IS A SOLAR THERMAL ENERGY SYSTEM AND FIVE THOUSAND DOLLARS FOR QUALIFIED
SOLAR EQUIPMENT THAT IS A SOLAR ELECTRIC ENERGY SYSTEM.
  S  2.  Subparagraph  (A) of paragraph 2 of subsection (g-1) of section
606 of the tax law, as amended by chapter 378 of the laws  of  2005,  is
amended to read as follows:
  (A)  The  term  "qualified solar energy system equipment expenditures"
means expenditures for the purchase of  solar  energy  system  equipment
which  is installed in connection with residential property which is (i)
located in this state and (ii) which is used by the taxpayer as  ANY  OF
his or her [principal residence] RESIDENCES at the time the solar energy
system equipment is placed in service.
  S 3. Paragraph 3 of subsection (g-1) of section 606 of the tax law, as
amended  by  chapter  128  of  the  laws  of 2007, is amended to read as
follows:

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD15407-01-0

S. 7710                             2

  (3) Solar energy system equipment. (A) The term "solar  energy  system
equipment"  shall  mean  an  arrangement  or  combination  of components
utilizing solar radiation, which, when installed in a residence, produc-
es energy designed to provide heating, cooling, hot water or electricity
for  use  in  such  residence.  Such arrangement or components shall not
include equipment connected to solar energy system equipment that  is  a
component  of  part  or parts of a non-solar energy system or which uses
any sort of recreational facility or  equipment  as  a  storage  medium.
[Solar  energy  system equipment that generates electricity for use in a
residence]
  (B) THE TERM "SOLAR THERMAL ENERGY SYSTEM"  SHALL  MEAN  SOLAR  ENERGY
EQUIPMENT  THAT IS AN ARRANGEMENT OR COMBINATION OF COMPONENTS UTILIZING
SOLAR RADIATION, WHICH, WHEN INSTALLED IN A RESIDENCE,  PRODUCES  ENERGY
DESIGNED TO PROVIDED HEATING, COOLING OR HOT WATER FOR USE IN SUCH RESI-
DENCE.
  (C)  THE  TERM  "SOLAR ELECTRIC ENERGY SYSTEM" SHALL MEAN SOLAR ENERGY
EQUIPMENT THAT IS AN ARRANGEMENT OR COMBINATION OF COMPONENTS  UTILIZING
SOLAR  RADIATION,  WHICH, WHEN INSTALLED IN A RESIDENCE, PRODUCES ENERGY
DESIGNED TO PROVIDE ELECTRICITY FOR USE IN SUCH RESIDENCE. SUCH  SYSTEMS
must conform to applicable requirements set forth in section sixty-six-j
of  the  public  service  law. Provided, however, where A solar ELECTRIC
energy system [equipment] is purchased and installed  by  a  condominium
management   association  or  a  cooperative  housing  corporation,  for
purposes of this subsection only,  the  term  "ten  kilowatts"  in  such
section sixty-six-j shall be read as "fifty kilowatts."
  S 4. Paragraph 4 of subsection (g-1) of section 606 of the tax law, as
amended  by  chapter  378  of  the  laws  of 2005, is amended to read as
follows:
  (4)  Multiple  taxpayers.  Where  solar  energy  system  equipment  is
purchased and installed in a [principal] residence shared by two or more
taxpayers,  the amount of the credit allowable under this subsection for
each such taxpayer shall be prorated according to the percentage of  the
total  expenditure for such solar energy system equipment contributed by
each taxpayer.
  S 5. Paragraph 5 of subsection (g-1) of section 606 of the tax law, as
added by chapter 128 of the laws of 2007, is amended to read as follows:
  (5) Proportionate  share.  Where  solar  energy  system  equipment  is
purchased  and  installed  by  a condominium management association or a
cooperative housing corporation, a taxpayer  who  is  a  member  of  the
condominium management association or who is a tenant-stockholder in the
cooperative  housing  corporation may for the purpose of this subsection
claim a proportionate share of the total expense as the expenditure  for
the  purposes of the credit attributable to his [principal] OR HER resi-
dence.
  S 6. Section 606 of the tax law is amended by adding a new  subsection
(g-3) to read as follows:
  (G-3)  WIND ENERGY SYSTEM EQUIPMENT CREDIT. (1) GENERAL. AN INDIVIDUAL
TAXPAYER SHALL BE ALLOWED A CREDIT AGAINST THE TAX IMPOSED BY THIS ARTI-
CLE EQUAL TO TWENTY-FIVE PERCENT OF QUALIFIED WIND ENERGY SYSTEM  EQUIP-
MENT  EXPENDITURES.  THIS  CREDIT SHALL NOT EXCEED FIVE THOUSAND DOLLARS
FOR QUALIFIED WIND ENERGY EQUIPMENT.
  (2) QUALIFIED WIND ENERGY SYSTEM EQUIPMENT EXPENDITURES. (A) THE  TERM
"QUALIFIED WIND ENERGY SYSTEM EQUIPMENT EXPENDITURES" MEANS EXPENDITURES
FOR  THE  PURCHASE OF WIND ENERGY SYSTEM EQUIPMENT WHICH IS INSTALLED IN
CONNECTION WITH RESIDENTIAL PROPERTY WHICH IS (I) LOCATED IN THIS  STATE

S. 7710                             3

AND  (II)  WHICH IS USED BY THE TAXPAYER AS ANY OF HIS OR HER RESIDENCES
AT THE TIME THE WIND ENERGY SYSTEM EQUIPMENT IS PLACED IN SERVICE.
  (B) SUCH QUALIFIED EXPENDITURES SHALL INCLUDE EXPENDITURES FOR MATERI-
ALS, LABOR COSTS PROPERLY ALLOCABLE TO ON-SITE PREPARATION, ASSEMBLY AND
ORIGINAL  INSTALLATION,  ARCHITECTURAL  AND  ENGINEERING  SERVICES,  AND
DESIGNS AND PLANS DIRECTLY RELATED TO THE CONSTRUCTION  OR  INSTALLATION
OF THE WIND ENERGY SYSTEM EQUIPMENT.
  (C)  SUCH  QUALIFIED  EXPENDITURES SHALL NOT INCLUDE INTEREST OR OTHER
FINANCE CHARGES.
  (3) WIND ENERGY SYSTEM EQUIPMENT. THE TERM "WIND ENERGY SYSTEM  EQUIP-
MENT"  SHALL  MEAN AN ARRANGEMENT OR COMBINATION OF COMPONENTS UTILIZING
WIND, WHICH, WHEN INSTALLED IN A RESIDENCE, PRODUCES ENERGY DESIGNED  TO
PROVIDE  ELECTRICITY  FOR  USE  IN  SUCH  RESIDENCE. SUCH ARRANGEMENT OR
COMPONENTS SHALL NOT INCLUDE EQUIPMENT CONNECTED TO WIND  ENERGY  SYSTEM
EQUIPMENT  THAT  IS  A  COMPONENT  OF PART OR PARTS OF A NON-WIND ENERGY
SYSTEM OR WHICH USES ANY SORT OF RECREATIONAL FACILITY OR EQUIPMENT AS A
STORAGE MEDIUM. WIND ENERGY SYSTEM EQUIPMENT THAT GENERATES  ELECTRICITY
FOR USE IN A RESIDENCE MUST CONFORM TO APPLICABLE REQUIREMENTS SET FORTH
IN  SECTION  SIXTY-SIX-L  OF  THE PUBLIC SERVICE LAW. PROVIDED, HOWEVER,
WHERE WIND ENERGY SYSTEM EQUIPMENT  IS  PURCHASED  AND  INSTALLED  BY  A
CONDOMINIUM MANAGEMENT ASSOCIATION OR A COOPERATIVE HOUSING CORPORATION,
FOR  PURPOSES  OF THIS SUBSECTION ONLY, THE TERM "TWENTY-FIVE KILOWATTS"
IN SUCH SECTION SIXTY-SIX-L SHALL BE READ AS "FIFTY KILOWATTS."
  (4)  MULTIPLE  TAXPAYERS.  WHERE  WIND  ENERGY  SYSTEM  EQUIPMENT   IS
PURCHASED  AND INSTALLED IN A RESIDENCE SHARED BY TWO OR MORE TAXPAYERS,
THE AMOUNT OF THE CREDIT ALLOWABLE UNDER THIS SUBSECTION FOR  EACH  SUCH
TAXPAYER  SHALL  BE  PRORATED  ACCORDING  TO THE PERCENTAGE OF THE TOTAL
EXPENDITURE FOR SUCH WIND ENERGY SYSTEM EQUIPMENT  CONTRIBUTED  BY  EACH
TAXPAYER.
  (5)  PROPORTIONATE  SHARE.  WHERE  WIND  ENERGY  SYSTEM  EQUIPMENT  IS
PURCHASED AND INSTALLED BY A CONDOMINIUM  MANAGEMENT  ASSOCIATION  OR  A
COOPERATIVE  HOUSING  CORPORATION,  A  TAXPAYER  WHO  IS A MEMBER OF THE
CONDOMINIUM MANAGEMENT ASSOCIATION OR WHO IS A TENANT-STOCKHOLDER IN THE
COOPERATIVE HOUSING CORPORATION MAY FOR THE PURPOSE OF  THIS  SUBSECTION
CLAIM  A PROPORTIONATE SHARE OF THE TOTAL EXPENSE AS THE EXPENDITURE FOR
THE PURPOSES OF THE CREDIT ATTRIBUTABLE TO HIS OR HER RESIDENCE.
  (6) GRANTS. FOR PURPOSES OF DETERMINING THE AMOUNT OF THE  EXPENDITURE
INCURRED  IN PURCHASING AND INSTALLING WIND ENERGY SYSTEM EQUIPMENT, THE
AMOUNT OF ANY FEDERAL, STATE OR LOCAL GRANT RECEIVED  BY  THE  TAXPAYER,
WHICH  WAS  USED  FOR THE PURCHASE AND/OR INSTALLATION OF SUCH EQUIPMENT
AND WHICH WAS NOT INCLUDED IN THE FEDERAL GROSS INCOME OF THE  TAXPAYER,
SHALL NOT BE INCLUDED IN THE AMOUNT OF SUCH EXPENDITURES.
  (7)  WHEN  CREDIT  ALLOWED. THE CREDIT PROVIDED FOR IN THIS SUBSECTION
SHALL BE ALLOWED WITH RESPECT TO THE TAXABLE YEAR, COMMENCING AFTER  TWO
THOUSAND  NINE,  IN  WHICH THE WIND ENERGY SYSTEM EQUIPMENT IS PLACED IN
SERVICE.
  (8) CARRYOVER OF CREDIT. IF THE AMOUNT OF THE CREDIT,  AND  CARRYOVERS
OF  SUCH  CREDIT,  ALLOWABLE  UNDER THIS SUBSECTION FOR ANY TAXABLE YEAR
SHALL EXCEED THE TAXPAYER'S TAX FOR SUCH YEAR, SUCH EXCESS AMOUNT MAY BE
CARRIED OVER TO THE FIVE TAXABLE YEARS NEXT FOLLOWING THE  TAXABLE  YEAR
WITH RESPECT TO WHICH THE CREDIT IS ALLOWED AND MAY BE DEDUCTED FROM THE
TAXPAYER'S TAX FOR SUCH YEAR OR YEARS.
  S  7. This act shall take effect on the first of January next succeed-
ing the date on which it shall have become a law.

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