Assembly Bill A7203

2011-2012 Legislative Session

Creates a tax credit for the purchase and installation of a sun tunnel in a principal residence

download bill text pdf

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Archive: Last Bill Status - In Assembly 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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2011-A7203 (ACTIVE) - Details

See Senate Version of this Bill:
S4624
Current Committee:
Assembly Ways And Means
Law Section:
Tax Law
Laws Affected:
Amd §606, Tax L
Versions Introduced in 2013-2014 Legislative Session:
A2608, S2358

2011-A7203 (ACTIVE) - Summary

Creates a tax credit for the purchase and installation of a sun tunnel in a principal residence.

2011-A7203 (ACTIVE) - Bill Text download pdf

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

                                  7203

                       2011-2012 Regular Sessions

                          I N  A S S E M B L Y

                             April 15, 2011
                               ___________

Introduced by M. of A. THIELE -- read once and referred to the Committee
  on Ways and Means

AN  ACT  to  amend the tax law, in relation to establishing a credit for
  the purchase and installation of a sun tunnel in a principal residence

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

  Section  1.  Section  606  of  the  tax law is amended by adding a new
subsection (g-3) to read as follows:
  (G-3) CREDIT FOR SUN TUNNEL PURCHASE AND INSTALLATION. (1) GENERAL.  A
TAXPAYER  SHALL  BE  ALLOWED  A CREDIT FOR TAXABLE YEARS BEGINNING ON OR
AFTER JANUARY FIRST, TWO THOUSAND ELEVEN AGAINST THE TAX IMPOSED BY THIS
ARTICLE FOR THE PURCHASE AND INSTALLATION OF A SUN TUNNEL  EQUAL  TO  OR
BELOW  A U-FACTOR OF 0.30 AND SOLAR HEAT GAIN COEFFICIENT (SHGC) OF 0.30
BY A TAXPAYER IN HIS OR HER PRINCIPAL RESIDENCE, IF  SUCH  RESIDENCE  IS
LOCATED  WITHIN  THE  STATE.  THE  AMOUNT  OF THE CREDIT SHALL BE THIRTY
PERCENT OF THE EXPENDITURE INCURRED IN  PURCHASING  AND  INSTALLING  ANY
SUCH  SUN  TUNNEL,  BUT  NOT TO EXCEED THE MAXIMUM CREDIT OF ONE HUNDRED
FIFTY DOLLARS.
  (2) QUALIFIED SUN TUNNEL EXPENDITURES.
  (A) THE TERM "QUALIFIED SUN TUNNEL  EXPENDITURES"  MEANS  EXPENDITURES
FOR  THE  PURCHASE  OF  A SUN TUNNEL, MATERIALS AND LABOR COSTS PROPERLY
ALLOCABLE TO ON-SITE PREPARATION, ASSEMBLY  AND  ORIGINAL  INSTALLATION,
ARCHITECTURAL  AND  ENGINEERING SERVICES, AND DESIGNS AND PLANS DIRECTLY
RELATED TO THE INSTALLATION OF A SUN TUNNEL.
  (B) SUCH QUALIFIED EXPENDITURES SHALL NOT INCLUDE  INTEREST  OR  OTHER
FINANCE CHARGES.
  (3)  MULTIPLE TAXPAYERS. WHERE A SUN TUNNEL IS PURCHASED AND INSTALLED
IN A PRINCIPAL RESIDENCE SHARED BY TWO OR MORE TAXPAYERS, THE AMOUNT  OF
THE CREDIT ALLOWED UNDER THIS SUBSECTION FOR EACH SUCH TAXPAYER SHALL BE
PRORATED  ACCORDING  TO THE PERCENTAGE OF THE TOTAL EXPENDITURE FOR SUCH
SUN TUNNEL CONTRIBUTED BY EACH TAXPAYER.

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD02031-01-1
              

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