NY State Senate Bill 2011-S4624

Senate Bill S4624

2011-2012 Legislative Session

Creates a tax credit for the purchase and installation of a sun tunnel in a principal residence

download bill text pdf

Archive: Last Bill Status - In Senate Committee Investigations And Government Operations Committee

Introduced
- In Committee Assembly
- In Committee Senate
- On Floor Calendar Assembly
- On Floor Calendar Senate
- Passed Assembly
- Passed Senate
Delivered to Governor
Signed By Governor

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Actions

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	Assembly Actions - Lowercase Senate Actions - UPPERCASE
Jan 04, 2012	referred to investigations and government operations
Apr 13, 2011	referred to investigations and government operations

2011-S4624 (ACTIVE) - Details

See Assembly Version of this Bill:: A7203
Current Committee:: Senate Investigations And Government Operations
Law Section:: Tax Law
Laws Affected:: Amd §606, Tax L
Versions Introduced in 2013-2014 Legislative Session:: S2358, A2608

2011-S4624 (ACTIVE) - Summary

Creates a tax credit for the purchase and installation of a sun tunnel in a principal residence.

2011-S4624 (ACTIVE) - Sponsor Memo

                                BILL NUMBER:S4624

TITLE OF BILL:
An act
to amend the tax law, in relation to establishing a credit for the
purchase and installation of a sun tunnel in a principal residence

PURPOSE:
Establishes a tax credit for the purchase and installation of a sun
tunnel.

SUMMARY OF PROVISIONS:
Amends Section 606 of the tax law by adding a new subsection (g-3) to
provide for a tax credit for the purchase and installation of a
qualified sun tunnel.

JUSTIFICATION:
Sun tunnels are an environmentally friendly lighting solution.
Installation and use of these devices significantly reduce energy
costs while experiencing the benefits of natural light.

This legislation establishes a tax credit for the purchase and
installation of a sun tunnel in a principal residence. Such sun
tunnel must have a U-factor equal to or below .30 and solar heat
gain coefficient of 0.03. The amount of the credit shall be 30% of
the qualified expenditures incurred in purchasing and installing any

such sun tunnel not to exceed a maximum credit of $150.

This credit shall be provided in the taxable year commencing in which
the sun tunnel is installed beginning on or after January 1, 2011.
Excess credit may be carried over to the give 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.

Establishing a New York State tax credit for the purchase and
installation of sun tunnels would further promote energy efficiency
while saving homeowners money on utility bills.

LEGISLATIVE HISTORY:
New legislation.

FISCAL IMPLICATIONS:
To be determined.

EFFECTIVE DATE:
This act shall take effect on January 1, 2011; provided, however, if
this act shall become a law after such date it shall take effect
immediately and shall be deemed to have been in full force and effect
on and after January 1, 2011.

2011-S4624 (ACTIVE) - Bill Text download pdf

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

                                  4624

                       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 establishing  a  credit  for
  the purchase and installation of a sun tunnel in a principal residence

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

  Section 1. Section 606 of the tax law  is  amended  by  adding  a  new
subsection (g-3) to read as follows:
  (G-3)  CREDIT FOR SUN TUNNEL PURCHASE AND INSTALLATION. (1) GENERAL. A
TAXPAYER SHALL BE ALLOWED A CREDIT FOR TAXABLE  YEARS  BEGINNING  ON  OR
AFTER JANUARY FIRST, TWO THOUSAND ELEVEN AGAINST THE TAX IMPOSED BY THIS
ARTICLE  FOR  THE  PURCHASE AND INSTALLATION OF A SUN TUNNEL EQUAL TO OR
BELOW A U-FACTOR OF 0.30 AND SOLAR HEAT GAIN COEFFICIENT (SHGC) OF  0.30
BY  A  TAXPAYER  IN HIS OR HER PRINCIPAL RESIDENCE, IF SUCH RESIDENCE IS
LOCATED WITHIN THE STATE. THE AMOUNT  OF  THE  CREDIT  SHALL  BE  THIRTY
PERCENT  OF  THE  EXPENDITURE  INCURRED IN PURCHASING AND INSTALLING ANY
SUCH SUN TUNNEL, BUT NOT TO EXCEED THE MAXIMUM  CREDIT  OF  ONE  HUNDRED
FIFTY DOLLARS.
  (2) QUALIFIED SUN TUNNEL EXPENDITURES.
  (A)  THE  TERM  "QUALIFIED SUN TUNNEL EXPENDITURES" MEANS EXPENDITURES
FOR THE PURCHASE OF A SUN TUNNEL, MATERIALS  AND  LABOR  COSTS  PROPERLY
ALLOCABLE  TO  ON-SITE  PREPARATION, ASSEMBLY AND ORIGINAL INSTALLATION,
ARCHITECTURAL AND ENGINEERING SERVICES, AND DESIGNS AND  PLANS  DIRECTLY
RELATED TO THE INSTALLATION OF A SUN TUNNEL.
  (B)  SUCH  QUALIFIED  EXPENDITURES SHALL NOT INCLUDE INTEREST OR OTHER
FINANCE CHARGES.
  (3) MULTIPLE TAXPAYERS. WHERE A SUN TUNNEL IS PURCHASED AND  INSTALLED
IN  A PRINCIPAL RESIDENCE SHARED BY TWO OR MORE TAXPAYERS, THE AMOUNT OF
THE CREDIT ALLOWED UNDER THIS SUBSECTION FOR EACH SUCH TAXPAYER SHALL BE

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD02031-01-1

S. 4624                             2

PRORATED ACCORDING TO THE PERCENTAGE OF THE TOTAL EXPENDITURE  FOR  SUCH
SUN TUNNEL CONTRIBUTED BY EACH TAXPAYER.
  (4)  WHEN  CREDIT  ALLOWED.  THE  CREDIT  PROVIDED FOR HEREIN SHALL BE
ALLOWED WITH RESPECT TO THE TAXABLE YEAR COMMENCING  IN  WHICH  THE  SUN
TUNNEL IS INSTALLED.
  (5)  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 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 on January 1, 2011; provided, however,
if this act shall become a law after such  date  it  shall  take  effect
immediately and shall be deemed to have been in full force and effect on
and after January 1, 2011.

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