Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
May 04, 2010 |
referred to investigations and government operations |
Senate Bill S7710
2009-2010 Legislative Session
Sponsored By
(D) Senate District
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
Actions
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 ยง606, Tax L
- Versions Introduced in Other Legislative Sessions:
-
2011-2012:
S3238, A4247
2013-2014: A6312
2009-S7710 (ACTIVE) - Sponsor Memo
BILL NUMBER: S7710 TITLE OF BILL : An act to amend the tax law, in relation to the personal income tax credit for solar and wind energy systems PURPOSE OR GENERAL IDEA OF BILL : The bill provides for the separate personal income tax credits for solar electric, solar thermal and wind energy systems installed upon the residence of a taxpayer. SUMMARY OF SPECIFIC PROVISIONS : Paragraph 1 of the subsection (g-1) of section 606 of the tax law, as amended by chapter 378 of the laws of 2005; 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; Paragraph 3 of subsection (g-1) of section 606 of the tax law as amended by chapter 128 of the laws of 2007; paragraph 4 of subsection (g-1) of section 606 of the tax law, as amended by chapter 378 of the laws of 2005; paragraph 5 of subsection (g-1) of section 606 of the tax law, as added by chapter 128 of the laws of 2007; Section 606 of the tax law is amended by adding a new subsection (g-3). JUSTIFICATION : There is a national trend for Americans to use green, efficient energy
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
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