senate Bill S4533A

Amended

Requires the public service commission and the New York state energy research and development authority to ensure funds are available to fund programs

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Bill Status


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

  • 08 / Apr / 2013
    • REFERRED TO ENERGY AND TELECOMMUNICATIONS
  • 01 / May / 2013
    • AMEND AND RECOMMIT TO ENERGY AND TELECOMMUNICATIONS
  • 01 / May / 2013
    • PRINT NUMBER 4533A
  • 04 / Jun / 2013
    • REPORTED AND COMMITTED TO FINANCE
  • 05 / Jun / 2013
    • AMEND AND RECOMMIT TO FINANCE
  • 05 / Jun / 2013
    • PRINT NUMBER 4533B
  • 08 / Jan / 2014
    • REFERRED TO ENERGY AND TELECOMMUNICATIONS
  • 21 / Jan / 2014
    • AMEND AND RECOMMIT TO ENERGY AND TELECOMMUNICATIONS
  • 21 / Jan / 2014
    • PRINT NUMBER 4533C
  • 21 / May / 2014
    • AMEND (T) AND RECOMMIT TO ENERGY AND TELECOMMUNICATIONS
  • 21 / May / 2014
    • PRINT NUMBER 4533D
  • 28 / May / 2014
    • REPORTED AND COMMITTED TO FINANCE

Summary

Requires the public service commission and the New York state energy research and development authority to ensure funds are available to fund programs assisting building owners with installing energy efficient improvements.

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Bill Details

See Assembly Version of this Bill:
A6945
Versions:
S4533
S4533A
S4533B
S4533C
S4533D
Legislative Cycle:
2013-2014
Current Committee:
Senate Finance
Law Section:
Public Service Law
Laws Affected:
Add §73, Pub Serv L; amd §606, Tax L

Votes

10
0
10
Aye
0
Nay
1
aye with reservations
0
absent
0
excused
0
abstained
show Energy and Telecommunications committee vote details

Sponsor Memo

BILL NUMBER:S4533A

TITLE OF BILL: An act to amend the public service law and the tax
law, in relation to establishing an energy efficiency tax credit for
single family and multi-family homes

PURPOSE: To provide a tax credit for single family and multi-family
homes that will incent the use of cleaner burning fuels or on-site
renewable energy in order to reduce carbon emissions, improve air
quality and reduce capital costs to homeowners.

SUMMARY OF PROVISIONS: Section 1. Sets forth the title of the bill
which shall be known as the energy efficiency and carbon emission
reduction tax credit

Section 2 Amends the public service law to add a new section 73 that
allows the Department of taxation and finance to coordinate with the
Public Service Commission and NYSERDA to ensure that the residences
that utilize this tax credit are known for the purpose of quantifying
the benefits of the program

Section 3 Amends section 606 of the tax law by adding a new subsection
vv that lays out the equipment that qualifies for the credit,
enumerates the amounts allowed for single family homes as well as
multi-family homes and lays out certain efficiency and emission
reduction criterion that boilers and other equipment must achieve in
order to qualify.

Section 4 identifies the amount and sources of funding for the credit
starting in fiscal year 2013-14 and ending in fiscal year 2020-2021.

JUSTIFICATION: Currently, some dwellings use fuel sources that are
more carbon-intense than others, or that operate at a lower level of
efficiency than would be optimal. Although dwelling owners may want to
purchase a new heating system that is less carbon-intense or more
efficient, the cost of doing so is a deterrent. By providing a tax
incentive, this bill would encourage homeowners to purchase more
efficient and less carbon intensive heating systems.

LEGISLATIVE HISTORY: New Bill

FISCAL IMPLICATIONS: None.

EFFECTIVE DATE: This act shall take effect on the 180th day after it
shall have become law.

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

                                 4533--A

                       2013-2014 Regular Sessions

                            I N  S E N A T E

                              April 8, 2013
                               ___________

Introduced  by  Sen. MAZIARZ -- read twice and ordered printed, and when
  printed to be committed to the Committee on  Energy  and  Telecommuni-
  cations  --  committee  discharged, bill amended, ordered reprinted as
  amended and recommitted to said committee

AN ACT to amend the public service law and the tax law, in  relation  to
  establishing  an  energy  efficiency  tax credit for single family and
  multi-family homes

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

  Section  1.  This  act  shall be known and may be cited as the "energy
efficiency and carbon emission reduction tax credit act".
  S 2. The public service law is amended by adding a new section  73  to
read as follows:
  S 73. COORDINATION WITH CERTAIN PROVISIONS OF THE TAX LAW. THE DEPART-
MENT  MAY REQUEST FROM THE DEPARTMENT OF TAXATION AND FINANCE OR THE NEW
YORK STATE ENERGY  RESEARCH  AND  DEVELOPMENT  AUTHORITY  A  SUMMARY  OF
INSPECTION  REPORTS  PREPARED  BY THE NEW YORK STATE ENERGY RESEARCH AND
DEVELOPMENT AUTHORITY IN ACCORDANCE WITH THE  PROVISIONS  OF  SUBSECTION
(WW)  OF  SECTION  SIX  HUNDRED  SIX  OF THE TAX LAW. SUCH SUMMARY SHALL
INCLUDE THE TOTAL NUMBER OF RESIDENCES THAT HAVE BEEN GRANTED  A  CARBON
EMISSIONS  REDUCTION  CREDIT, A DESCRIPTION OF THE IMPROVEMENTS TO WHICH
THE CREDIT RELATES, AND AN INDICATION OF  THE  AMOUNT  BY  WHICH  CARBON
EMISSIONS  ARE  TO  BE  REDUCED AND/OR THE AMOUNT BY WHICH FUEL USAGE IS
REDUCED.
  S 3. Section 606 of the tax law is amended by adding a new  subsection
(ww) to read as follows:
  (WW)  CARBON  EMISSIONS  REDUCTION  CREDIT.  (1)  ALLOWANCE OF CREDIT.
SUBJECT TO APPROVAL BY  THE  DEPARTMENT  PURSUANT  TO  THIS  SECTION,  A
TAXPAYER SHALL BE ALLOWED A CREDIT AGAINST THE TAX IMPOSED BY THIS ARTI-
CLE FOR COSTS INCURRED ON OR AFTER THE EFFECTIVE DATE OF THIS SUBSECTION
BY  SUCH  TAXPAYER  WHICH  ARE  DIRECTLY  ASSOCIATED WITH INSTALLING ANY

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD08685-05-3

S. 4533--A                          2

IMPROVEMENT TO A HEATING OR COOLING SYSTEM WHICH WILL INCREASE EFFICIEN-
CY BY AT LEAST TEN PERCENT OR REDUCE FUEL USAGE BY AT LEAST TEN  PERCENT
AND  LEAD  TO  A SIGNIFICANT REDUCTION IN CARBON EMISSIONS AS DEFINED BY
THE NEW YORK STATE ENERGY RESEARCH AND DEVELOPMENT AUTHORITY GUIDELINES,
PROVIDED  THAT  SUCH  PROJECT  SHALL HAVE A RETURN ON INVESTMENT OF FIVE
YEARS OR LESS AT MINIMUM.  SUCH IMPROVEMENTS SHALL  INCLUDE,  BUT  SHALL
NOT  BE  LIMITED  TO,  THE  INSTALLATION  OF A HIGH EFFICIENCY BOILER OR
FURNACE, AN IMPROVEMENT TO AND/OR REPLACEMENT OF A BURNER IN  A  BOILER,
THE  INSTALLATION OF ON-SITE RENEWABLE GENERATION, OR ANY OTHER IMPROVE-
MENT TO A HEATING SYSTEM THAT SATISFIES THE CRITERIA SET FORTH  IN  THIS
SUBSECTION. NOTWITHSTANDING THE FOREGOING PROVISIONS OF THIS SUBSECTION,
FOR  BOILERS THAT ARE REGULATED BY THE NEW YORK CITY DEPARTMENT OF ENVI-
RONMENTAL PROTECTION, THE IMPROVEMENTS MUST RESULT  IN  A  REDUCTION  OF
PARTICULATE  MATTER  THAT  IS  TWO AND ONE-HALF MICRONS OR LESS IN WIDTH
(COMMONLY REFERRED TO AS PM 2.5 EMISSIONS) OF AT LEAST FIFTY PERCENT.
  (2) AMOUNT OF CREDIT. THE AMOUNT OF THE CREDIT SHALL  BE  UP  TO  FIVE
THOUSAND DOLLARS FOR A SINGLE FAMILY HOME AND UP TO TWENTY-FIVE THOUSAND
DOLLARS  FOR  A MULTIPLE FAMILY DWELLING OF AT LEAST FIVE UNITS, TOWARDS
THE TOTAL COST OF DESIGNING, PURCHASING AND INSTALLING  SUCH  A  HEATING
SYSTEM,  WHICH  COST  SHALL  INCLUDE  THE DECOMMISSIONING AND REMOVAL OF
EXISTING EQUIPMENT. IN NO CASE SHALL THE AMOUNT OF THE APPLICABLE CREDIT
EXCEED THE AMOUNT OF THE INVESTMENT IN THE IMPROVEMENT MADE.
  (3) MULTIPLE TAXPAYERS. IF THE PRINCIPAL RESIDENCE IS SHARED BY TWO OR
MORE TAXPAYERS, THE AMOUNT OF THE CREDIT ALLOWABLE UNDER THIS SUBSECTION
FOR EACH SUCH ELIGIBLE TAXPAYER  SHALL  BE  PRORATED  ACCORDING  TO  THE
PERCENTAGE OF THE TOTAL EXPENDITURE FOR SUCH CONVERSION INCURRED BY EACH
TAXPAYER.
  (4)  APPLICATION  FOR  CREDIT.  SUCH CREDIT SHALL BE GRANTED ONLY UPON
APPLICATION BY THE ELIGIBLE TAXPAYER OR TAXPAYERS ON A  FORM  PRESCRIBED
BY  THE  NEW  YORK  STATE  ENERGY RESEARCH AND DEVELOPMENT AUTHORITY AND
AFTER INSPECTION BY SUCH AUTHORITY, THE RESULTS OF WHICH  SHALL  BE  SET
FORTH  IN  A  REPORT  PREPARED  THEREBY.  THE  APPLICATION SHALL REQUIRE
SUBMISSION OF DOCUMENTATION OF THE CONVERSION,  INCLUDING  INVOICES  FOR
ANY  SERVICES  USED  AND CONTRACTED AND EQUIPMENT INSTALLED OR ADDED, AS
WELL AS ANY CONTRACTS WITH  A  HEATING  SUPPLIER.  THE  APPLICATION  AND
INSPECTION  REPORT  SHALL  BE FILED WITH THE DEPARTMENT ON OR BEFORE THE
LAST DAY OF THE APPLICABLE TAXABLE YEAR, WHO SHALL APPROVE OR DISAPPROVE
SUCH APPLICATION. A COPY OF SUCH APPLICATION SHALL BE FILED WITH THE NEW
YORK STATE ENERGY RESEARCH AND DEVELOPMENT AUTHORITY.
  (5) APPLICATION OF CREDIT. IF THE AMOUNT OF THE CREDIT  ALLOWED  UNDER
THIS SUBSECTION FOR ANY TAXABLE YEAR SHALL EXCEED THE TAXPAYER'S TAX FOR
SUCH  YEAR,  THE  EXCESS SHALL BE TREATED AS AN OVERPAYMENT OF TAX TO BE
CREDITED OR REFUNDED IN ACCORDANCE WITH THE PROVISIONS  OF  SECTION  SIX
HUNDRED  EIGHTY-SIX OF THIS ARTICLE, PROVIDED, HOWEVER, THAT NO INTEREST
SHALL BE PAID THEREON.
  (B) FOR PURPOSES OF  THIS  SUBSECTION,  "PRINCIPAL  RESIDENCE"  FOR  A
SINGLE  FAMILY  DWELLING  SHALL  MEAN THE RESIDENTIAL PROPERTY WHERE THE
TAXPAYER HAS HIS OR HER TRUE, FIXED, AND PERMANENT HOME TO WHICH,  WHEN-
EVER ABSENT HE OR SHE INTENDS TO RETURN. IN ORDER TO VERIFY A TAXPAYER'S
CLAIM  THAT  A PARTICULAR PROPERTY IS A PRINCIPAL RESIDENCE, THE DEPART-
MENT MAY ACCEPT VARIOUS DOCUMENTS THAT, TAKEN TOGETHER,  ESTABLISH  THAT
THE  TAXPAYER  CLAIMING  THE CREDIT PROVIDED BY THIS SUBSECTION OCCUPIES
THE PROPERTY AS A PRINCIPAL RESIDENCE, INCLUDING, BUT  NOT  LIMITED  TO,
THE  TAXPAYER'S  DRIVER'S  LICENSE,  VOTER  REGISTRATION CARD, CANCELLED
CHECKS LISTING THE PROPERTY ADDRESS, STATEMENTS SUCH AS MEDICAL, BANK OR

S. 4533--A                          3

CHARGE ACCOUNTS OR INCOME TAX RECORDS INDICATING THE MAILING ADDRESS AND
INSURANCE POLICIES.
  (C)  THE  PRESIDENT OF THE NEW YORK STATE ENERGY RESEARCH AND DEVELOP-
MENT AUTHORITY SHALL PROVIDE ADDITIONAL DEFINITIONS AND  GUIDELINES  FOR
THE ELIGIBILITY OF AN IMPROVEMENT OR PROJECT, WHICH SHALL INCLUDE DEFIN-
ING THE PARAMETERS OF WHAT CONSTITUTES A SIGNIFICANT REDUCTION IN CARBON
EMISSIONS FOR A SINGLE FAMILY OR MULTIPLE FAMILY DWELLING AS WELL AS ANY
AND  ALL  APPLICABLE  STANDARDS,  OTHER  THAN  THOSE  ENUMERATED IN THIS
SUBSECTION.
  S 4. The New York state  energy  research  and  development  authority
shall  make  available  funding  in the amount of $15 million for fiscal
years 2013-2014 and 2014-2015, and $3 million in  each  subsequent  year
until fiscal year 2020-2021.  Funding for the carbon emissions reduction
credit  provided  by subsection (ww) of section 606 of the tax law shall
be provided through funds collected pursuant to proceeds  collected  but
not allocated by the authority from the auction, pursuant to regulations
of such authority, of emission allowances allocated by the department of
environmental  conservation  to  such  authority pursuant to regulations
adopted by such department.
  S 5. This act shall take effect on the one hundred eightieth day after
it shall have become a law.

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