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Assembly Bill A7981

2011-2012 Legislative Session

Relates to certain qualified solar energy system equipment expenditures

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Archive: Last Bill Status - In Assembly Committee

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2011-A7981 (ACTIVE) - Details

Current Committee:
Assembly Ways And Means
Law Section:
Tax Law
Laws Affected:
Amd ยง606, Tax L
Versions Introduced in 2009-2010 Legislative Session:
A3227

2011-A7981 (ACTIVE) - Summary

Authorizes certain qualified solar energy system equipment expenditures which are located at a person's secondary residence to be included as a credit.

2011-A7981 (ACTIVE) - Bill Text download pdf 

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

                                  7981

                       2011-2012 Regular Sessions

                          I N  A S S E M B L Y

                              May 25, 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 certain qualified solar
  energy system equipment expenditures

  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, 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  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 EITHER his or
her principal residence OR SECONDARY 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
designs and plans directly related to the construction  or  installation
of the solar energy system equipment.
  (C)  Such  qualified  expenditures shall not include interest or other
finance charges.
  S 2. This act shall take effect immediately.



 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD11625-01-1

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