Assembly Bill A11492

2009-2010 Legislative Session

Relates to tax credits provided for solar energy system equipment

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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2009-A11492 (ACTIVE) - Details

See Senate Version of this Bill:
S8190
Current Committee:
Assembly Ways And Means
Law Section:
Tax Law
Laws Affected:
Amd §606, Tax L
Versions Introduced in 2011-2012 Legislative Session:
A34, S1437

2009-A11492 (ACTIVE) - Summary

Relates to tax credits provided for solar energy system equipment; provides credit for the lease of solar energy equipment and the purchase of power generated by solar equipment.

2009-A11492 (ACTIVE) - Bill Text download pdf

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

                                  11492

                          I N  A S S E M B L Y

                              June 17, 2010
                               ___________

Introduced  by  COMMITTEE ON RULES -- (at request of M. of A. Cahill) --
  read once and referred to the Committee on Ways and Means

AN ACT to amend the tax law, in relation to  tax  credits  provided  for
  solar energy system equipment

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

  Section 1. Paragraph 2 of subsection (g-1) of section 606 of  the  tax
law,  as amended by chapter 378 of the laws of 2005 and subparagraph (B)
as amended by chapter 251 of the laws of 2006, is  amended  to  read  as
follows:
  (2) Qualified solar energy system equipment expenditures. (A) The term
"qualified  solar  energy  system equipment expenditures" means expendi-
tures for:
  (I) the purchase of solar energy system equipment which  is  installed
in  connection  with  residential property which is [(i)] (I) located in
this state and [(ii)] (II) which is used by the taxpayer as his  or  her
principal  residence  at  the  time the solar energy system equipment is
placed in service;
  (II) THE LEASE OF SOLAR ENERGY SYSTEM EQUIPMENT UNDER A WRITTEN AGREE-
MENT THAT SPANS AT LEAST TEN YEARS  WHERE  SUCH  EQUIPMENT  OWNED  BY  A
PERSON  OTHER THAN THE TAXPAYER IS INSTALLED IN CONNECTION WITH RESIDEN-
TIAL PROPERTY WHICH IS (I) LOCATED IN THIS STATE AND (II) WHICH IS  USED
BY  THE TAXPAYER AS HIS OR HER PRINCIPAL RESIDENCE AT THE TIME THE SOLAR
ENERGY SYSTEM EQUIPMENT IS PLACED IN SERVICE; OR
  (III) THE PURCHASE OF POWER UNDER A WRITTEN AGREEMENT  THAT  SPANS  AT
LEAST  TEN  YEARS  WHEREUNDER  THE POWER PURCHASED IS GENERATED BY SOLAR
ENERGY SYSTEM EQUIPMENT OWNED BY A PERSON OTHER THAN THE TAXPAYER  WHICH
IS  INSTALLED  IN  CONNECTION  WITH  RESIDENTIAL  PROPERTY  WHICH IS (I)
LOCATED IN THIS STATE AND (II) WHICH IS USED BY THE TAXPAYER AS  HIS  OR
HER PRINCIPAL RESIDENCE AT THE TIME THE SOLAR 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

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

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