senate Bill S6242

2011-2012 Legislative Session

Relates to increasing the tax credit provided for solar energy system equipment

download bill text pdf

Sponsored By

Archive: Last Bill Status - In Senate Committee Rules Committee


  • Introduced
  • In Committee
  • On Floor Calendar
    • Passed Senate
    • Passed Assembly
  • Delivered to Governor
  • Signed/Vetoed by Governor

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Actions

view actions (3)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Mar 12, 2012 committee discharged and committed to rules
Mar 09, 2012 notice of committee consideration - requested
Jan 17, 2012 referred to investigations and government operations

Co-Sponsors

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S6242 (ACTIVE) - Details

See Assembly Version of this Bill:
A9090
Current Committee:
Senate Rules
Law Section:
Tax Law
Laws Affected:
Amd §606, Tax L
Versions Introduced in Other Legislative Sessions:
2013-2014: S1412, A1782
2015-2016: S1260, A9132
2017-2018: S4714, A5646
2019-2020: S752, A6420

S6242 (ACTIVE) - Summary

Relates to increasing the tax credit provided for solar energy system equipment from $5000 to $10,000.

S6242 (ACTIVE) - Sponsor Memo

S6242 (ACTIVE) - Bill Text download pdf

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

                                  6242

                            I N  S E N A T E

                            January 17, 2012
                               ___________

Introduced  by  Sens.  MONTGOMERY,  SQUADRON  --  read twice and ordered
  printed, and when printed to be committed to the Committee on Investi-
  gations and Government Operations

AN ACT to amend the tax law, in relation to increasing  the  tax  credit
  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 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  three  thousand  seven hundred fifty dollars for qualified solar
energy equipment placed in service before September first, two  thousand
six,  and  five  thousand  dollars  for qualified solar energy equipment
placed in service on or after September  first,  two  thousand  six  AND
PRIOR  TO SEPTEMBER FIRST, TWO THOUSAND TWELVE, AND TEN THOUSAND DOLLARS
FOR QUALIFIED SOLAR ENERGY EQUIPMENT  PLACED  IN  SERVICE  ON  OR  AFTER
SEPTEMBER FIRST, TWO THOUSAND TWELVE.
  S 2. This act shall take effect immediately and shall apply to taxable
years commencing on and after January 1, 2012.





 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD14054-01-2

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