| Date of Action |
Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|---|---|
| May 31, 2012 |
reported and committed to finance |
| May 18, 2012 |
print number 4623a |
| May 18, 2012 |
amend and recommit to investigations and government operations |
| Jan 04, 2012 |
referred to investigations and government operations |
| Jun 24, 2011 |
committed to rules |
| Jun 14, 2011 |
advanced to third reading |
| Jun 13, 2011 |
2nd report cal. |
| Jun 07, 2011 |
1st report cal.1118 |
| Apr 13, 2011 |
referred to investigations and government operations |
Senate Bill S4623A
2011-2012 Legislative Session
Sponsored By
(R) Senate District
Archive: Last Bill Status - In Senate Committee Finance Committee
Actions
Votes
Bill Amendments
2011-S4623 - Details
2011-S4623 - Sponsor Memo
BILL NUMBER:S4623
TITLE OF BILL:
An act
to amend the tax law, in relation to the solar energy system equipment
tax credit
PURPOSE:
This legislation extends the solar energy system equipment tax credit
carryover period from five to ten years.
SUMMARY OF PROVISIONS:
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 extend the solar
energy system equipment tax credit carryover period from five to ten
taxable years.
JUSTIFICATION:
New York's solar energy system equipment tax credit provides
individuals with an incentive to choose to invest in photovoltaic
systems as an alternative energy choice. The current credit system,
subject to certain limits, is 25% of the qualified solar energy
system equipment expenditures for the purchase and installation of a
system that uses solar radiation to produce energy for heating,
cooling, hot water or electricity for residential se. If the credit
2011-S4623 - Bill Text download pdf
S T A T E O F N E W Y O R K
________________________________________________________________________
4623
2011-2012 Regular Sessions
I N S E N A T E
April 13, 2011
___________
Introduced by Sen. LAVALLE -- 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 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-S4623A (ACTIVE) - Details
2011-S4623A (ACTIVE) - Sponsor Memo
BILL NUMBER:S4623A
TITLE OF BILL:
An act
to amend the tax law, in relation to the solar energy system equipment
tax credit
PURPOSE:
This legislation extends the solar energy system equipment tax credit
carryover period from five to ten years.
SUMMARY OF PROVISIONS:
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 extend the solar
energy system equipment tax credit carryover period from five to ten
taxable years.
JUSTIFICATION:
New York's solar energy system equipment tax credit provides
individuals with an incentive to choose to invest in photovoltaic
systems as an alternative energy choice. The current credit system,
subject to certain limits, is 25% of the qualified solar energy
system equipment expenditures for the purchase and installation of a
system that uses solar radiation to produce energy for heating,
cooling, hot water or electricity for residential use. If the credit
2011-S4623A (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K
________________________________________________________________________
4623--A
2011-2012 Regular Sessions
I N S E N A T E
April 13, 2011
___________
Introduced by Sen. LAVALLE -- read twice and ordered printed, and when
printed to be committed to the Committee on Investigations and Govern-
ment Operations -- recommitted to the Committee on Investigations and
Government Operations in accordance with Senate Rule 6, sec. 8 --
committee discharged, bill amended, ordered reprinted as amended and
recommitted to said committee
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.
LBD01243-02-2
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