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Assembly Bill A7066

2011-2012 Legislative Session

Extends the solar energy system equipment tax credit carryover period

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Archive: Last Bill Status - In Assembly Committee

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Bill Amendments

2011-A7066 - Details

Current Committee:
Assembly Ways And Means
Law Section:
Tax Law
Laws Affected:
Amd §606, Tax L
Versions Introduced in Other Legislative Sessions:
2013-2014: A4701
2015-2016: A4201

2011-A7066 - Summary

Extends the solar energy system equipment tax credit carryover period from five years to ten years.

2011-A7066 - Bill Text download pdf 

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

                                  7066

                       2011-2012 Regular Sessions

                          I N  A S S E M B L Y

                             April 11, 2011
                               ___________

Introduced by M. of A. THIELE -- read once and referred to the Committee
  on Ways and Means

AN  ACT  to  amend  the  tax law, in relation to the solar energy system
  equipment tax credit

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

  Section  1.  Paragraph 8 of subsection (g-1) of section 606 of the tax
law, as amended by chapter 378 of the laws of 2005 and as renumbered  by
chapter 128 of the laws of 2007, is amended to read as follows:
  (8)  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] TEN 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 taxable
years beginning on or after January 1, 2011.





 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD01243-01-1

2011-A7066A (ACTIVE) - Details

Current Committee:
Assembly Ways And Means
Law Section:
Tax Law
Laws Affected:
Amd §606, Tax L
Versions Introduced in Other Legislative Sessions:
2013-2014: A4701
2015-2016: A4201

2011-A7066A (ACTIVE) - Summary

Extends the solar energy system equipment tax credit carryover period from five years to ten years.

2011-A7066A (ACTIVE) - Bill Text download pdf 

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

                                 7066--A

                       2011-2012 Regular Sessions

                          I N  A S S E M B L Y

                             April 11, 2011
                               ___________

Introduced by M. of A. THIELE -- read once and referred to the Committee
  on Ways and Means -- recommitted to the Committee on Ways and Means in
  accordance  with Assembly Rule 3, sec. 2 -- committee discharged, bill
  amended, ordered reprinted as amended and recommitted to said  commit-
  tee

AN  ACT  to  amend  the  tax law, in relation to the solar energy system
  equipment tax credit

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

  Section  1.  Paragraph 8 of subsection (g-1) of section 606 of the tax
law, as amended by chapter 378 of the laws of 2005 and as renumbered  by
chapter 128 of the laws of 2007, is amended to read as follows:
  (8)  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] TEN 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 taxable
years beginning on or after January 1, 2013.




 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD01243-03-2

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