|Assembly Actions - Lowercase
Senate Actions - UPPERCASE
|Jul 01, 2010||referred to ways and means|
|Jun 30, 2010||delivered to assembly|
ordered to third reading cal.1411
|Jun 15, 2010||referred to rules|
senate Bill S8190
Archive: Last Bill Status - Passed Senate
- In Committee
- On Floor Calendar
- Passed Senate
- Passed Assembly
- Delivered to Governor
- Signed/Vetoed by Governor
S8190 (ACTIVE) - Details
S8190 (ACTIVE) - Sponsor Memo
BILL NUMBER:S8190 TITLE OF BILL: An act to amend the tax law, in relation to tax credits provided for solar energy system equipment PURPOSE: This bill will extend the current tax credit provided for the purchase and installation of solar energy equipment to individuals who install and the lease solar energy equipment. SUMMARY OF PROVISIONS: Section 1. Paragraph 2 of subsection (g-1) of section 606 of the tax law is amended to add to section: (A) extending the tax credit to(ii) an individual who leases solar energy equipment owned and installed by a third party as long as the lease agreement spans at least 10 years, resides within the State of New York, and is the principal residence of the tax payer. (iii) an individual who purchases the power under a lease agreement that spans at least 10 years where the power purchased is generated by solar energy equipment owned and installed by a third party.
S8190 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 8190 I N S E N A T E June 15, 2010 ___________ Introduced by Sen. THOMPSON -- read twice and ordered printed, and when printed to be committed to the Committee on Rules 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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