S T A T E O F N E W Y O R K
________________________________________________________________________
6352
2009-2010 Regular Sessions
I N A S S E M B L Y
March 2, 2009
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Introduced by M. of A. GORDON, STIRPE -- Multi-Sponsored by -- M. of A.
KOLB, PHEFFER -- read once and referred to the Committee on Ways and
Means
AN ACT to amend the tax law, in relation to establishing a tax credit
for solar thermal energy
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) SOLAR THERMAL ENERGY SYSTEM EQUIPMENT CREDIT. (1) GENERAL. AN
INDIVIDUAL TAXPAYER SHALL BE ALLOWED A CREDIT AGAINST THE TAX IMPOSED BY
THIS ARTICLE EQUAL TO TWENTY-FIVE PERCENT OF QUALIFIED SOLAR THERMAL
ENERGY SYSTEM EQUIPMENT EXPENDITURES. THIS CREDIT SHALL NOT EXCEED FIVE
THOUSAND DOLLARS AND SHALL APPLY TO QUALIFIED SOLAR THERMAL ENERGY
EQUIPMENT PLACED IN SERVICE ON OR AFTER JANUARY FIRST, TWO THOUSAND TEN.
(2) QUALIFIED SOLAR THERMAL ENERGY SYSTEM EQUIPMENT EXPENDITURES. (A)
THE TERM "QUALIFIED SOLAR THERMAL ENERGY SYSTEM EQUIPMENT EXPENDITURES"
MEANS EXPENDITURES FOR THE PURCHASE OF SOLAR THERMAL 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 HIS OR HER PRINCIPAL RESIDENCE AT THE TIME THE SOLAR THERMAL
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 SOLAR THERMAL ENERGY SYSTEM EQUIPMENT.
(C) SUCH QUALIFIED EXPENDITURES SHALL NOT INCLUDE INTEREST OR OTHER
FINANCE CHARGES.
(3) SOLAR THERMAL ENERGY SYSTEM EQUIPMENT. THE TERM "SOLAR THERMAL
ENERGY SYSTEM EQUIPMENT" SHALL MEAN AN ARRANGEMENT OR COMBINATION OF
EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD06394-01-9
A. 6352 2
COMPONENTS UTILIZING SOLAR THERMAL ENERGY TECHNOLOGY, WHICH, WHEN
INSTALLED IN A RESIDENCE, PRODUCES HEAT DESIGNED TO PROVIDE HOT WATER
AND HOT WATER-BASED SPACE HEATING FOR USE IN SUCH RESIDENCE.
(4) MULTIPLE TAXPAYERS. WHERE SOLAR THERMAL 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 THERMAL ENERGY SYSTEM EQUIPMENT
CONTRIBUTED BY EACH TAXPAYER.
(5) GRANTS. FOR PURPOSES OF DETERMINING THE AMOUNT OF THE EXPENDITURE
INCURRED IN PURCHASING AND INSTALLING SOLAR THERMAL ENERGY SYSTEM EQUIP-
MENT, 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.
(6) WHEN CREDIT ALLOWED. THE CREDIT PROVIDED FOR IN THIS SUBSECTION
SHALL BE ALLOWED WITH RESPECT TO THE TAXABLE YEAR, COMMENCING AFTER TWO
THOUSAND SEVEN, IN WHICH THE SOLAR THERMAL ENERGY SYSTEM EQUIPMENT IS
PLACED IN SERVICE.
(7) 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 2. This act shall take effect immediately and shall apply to equip-
ment placed in service in taxable years beginning on and after January
1, 2010.