senate Bill S3724A

2013-2014 Legislative Session

Tax credit for the purchase of voltage regulation technology

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Archive: Last Bill Status - In Committee


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

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Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Jan 28, 2014 print number 3724a
amend and recommit to investigations and government operations
Jan 08, 2014 referred to investigations and government operations
May 21, 2013 reported and committed to finance
Feb 12, 2013 referred to investigations and government operations

Bill Amendments

Original
A (Active)
Original
A (Active)

Co-Sponsors

S3724 - Bill Details

See Assembly Version of this Bill:
A2377B
Current Committee:
Law Section:
Tax Law
Laws Affected:
Amd §§210 & 606, Tax L
Versions Introduced in Previous Legislative Sessions:
2011-2012: S3426A, A10123
2009-2010: S3519

S3724 - Bill Texts

view summary

Provides for a tax credit for the purchase of voltage regulation technology equal to fifty percent of the cost, up to a $1000 limit for all voltage regulation technology; provides for standards to be set by NYSERDA.

view sponsor memo
BILL NUMBER:S3724

TITLE OF BILL: An act to amend the tax law, in relation to providing a
tax credit for the purchase of voltage regulation technology

SUMMARY OF PROVISIONS: This bill amends the Tax Law.

Section 1 amends Section 210 of the Tax Law, by adding a new subdivision
46 creating a credit for the purchase of voltage regulation technology.
The section defines eligibility and other restrictions and requirements,
and provides for a tax credit equal to fifty percent of the cost of
voltage regulation technology, up to one thousand dollars, for all
Purchases made by such taxpayer.

Section 2 adds a new clause (xxxv) to section 606 of the Tax Law provid-
ing for a credit for the purchase of voltage regulation technology under
subsection (vv).

Section 3 amends section 606 by adding a new subsection (vv). This
subsection provides for a credit for the purchase of voltage regulation
technology. The section defines eligibility and other restrictions and
requirements, and provides for a tax credit equal to fifty percent of
the purchase price of such technology up to a one thousand dollar limit
for all purchases made by such taxpayer.

Section 4 provides that this act shall take effect on the first of Janu-
ary next succeeding the date on which it shall have become law, and
shall apply to taxable years commencing on and after such date.

PURPOSE AND JUSTIFICATION: Demand for electricity continues to increase
in New York. Supplying such increased demand must eventually lead to
construction of new power plants, increased carbon emissions and
increased demand for foreign oil. It makes more sense to increase effi-
ciency, when possible, both to reduce energy costs for homeowners and
businesses and to reduce the need for more electricity. This bill gives
added incentive to taxpayers to invest in voltage regulation technology
that will allow them to use electricity more efficiently, reducing their
costs while at the same time helping our environment.

PRIOR LEGISLATIVE HISTORY: 2012: S.3426-A/A.10123 - FINANCE/Ways &
Means 2011: S.3426 -- INVESTIGATIONS 2009-10: S.3519 -- INVESTIGATIONS

FISCAL IMPLICATIONS: To be determined.

EFFECTIVE DATE: This act shall take effect on the first of January next
succeeding the date on which it shall have become law and shall apply to
taxable years commencing on and after such date.

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

                                  3724

                       2013-2014 Regular Sessions

                            I N  S E N A T E

                            February 12, 2013
                               ___________

Introduced  by  Sens.  RANZENHOFER,  LARKIN,  MAZIARZ  -- read twice and
  ordered printed, and when printed to be committed to the Committee  on
  Investigations and Government Operations

AN  ACT  to amend the tax law, in relation to providing a tax credit for
  the purchase of voltage regulation technology

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

  Section  1.  Section  210  of  the  tax law is amended by adding a new
subdivision 46 to read as follows:
  46. CREDIT FOR THE PURCHASE OF VOLTAGE  REGULATION  TECHNOLOGY.    (A)
ALLOWANCE AND AMOUNT OF CREDIT. A TAXPAYER SHALL BE ALLOWED A CREDIT, TO
BE  COMPUTED AS PROVIDED IN THIS SUBDIVISION, AGAINST THE TAX IMPOSED BY
THIS ARTICLE. THE AMOUNT OF THE CREDIT SHALL BE EQUAL TO  FIFTY  PERCENT
OF  THE  COST OF VOLTAGE REGULATION TECHNOLOGY, AS PROVIDED IN PARAGRAPH
(B) OF THIS SUBDIVISION, UP TO A  ONE  THOUSAND  DOLLAR  LIMIT  FOR  ALL
PURCHASES MADE BY SUCH TAXPAYER DURING THE TAXABLE YEAR.
  (B)  COST  OF VOLTAGE REGULATION TECHNOLOGY. THE NEW YORK STATE ENERGY
RESEARCH AND DEVELOPMENT AUTHORITY SHALL  ADOPT  RULES  AND  REGULATIONS
SETTING  FORTH  VOLTAGE  REGULATION  TECHNOLOGIES  WHICH QUALIFY FOR THE
CREDIT UNDER THIS SUBDIVISION, PROVIDED THAT SUCH TECHNOLOGIES SHALL  BE
REQUIRED  TO IMPROVE GRID EFFICIENCY, RAISE OR LOWER VOLTAGE DYNAMICALLY
AND BE AT LEAST NINETY-NINE PERCENT EFFICIENT  ACROSS  AT  LEAST  NINETY
PERCENT  OF  THE  ELECTRICAL  LOAD CURVE. SUCH AUTHORITY SHALL DEVELOP A
LIST OF SUCH IMPROVEMENTS AND PRODUCTS AND MAKE SUCH LIST  AVAILABLE  ON
ITS WEBSITE.
  (C)  APPLICATION OF CREDIT.  THE CREDIT ALLOWED UNDER THIS SUBDIVISION
FOR ANY TAXABLE YEAR SHALL NOT REDUCE THE TAX DUE FOR SUCH YEAR TO  LESS
THAN  THE  HIGHER OF THE AMOUNTS PRESCRIBED IN PARAGRAPHS (C) AND (D) OF
SUBDIVISION ONE OF THIS SECTION.

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD02564-02-3

S. 3724                             2

  S 2. Subparagraph (B) of paragraph 1 of subsection (i) of section  606
of  the  tax  law  is  amended  by adding a new clause (xxxv) to read as
follows:

(XXXV) CREDIT FOR THE PURCHASE OF    AMOUNT OF CREDIT UNDER
VOLTAGE REGULATION TECHNOLOGY UNDER  SUBDIVISION FORTY-SIX OF
SUBSECTION (VV)                      SECTION TWO HUNDRED TEN
  S  3. Section 606 of the tax law is amended by adding a new subsection
(vv) to read as follows:
  (VV) CREDIT FOR THE PURCHASE OF VOLTAGE REGULATION  TECHNOLOGY.    (1)
ALLOWANCE AND AMOUNT OF CREDIT. A TAXPAYER SHALL BE ALLOWED A CREDIT, TO
BE  COMPUTED  AS PROVIDED IN THIS SUBSECTION, AGAINST THE TAX IMPOSED BY
THIS ARTICLE. THE AMOUNT OF THE CREDIT SHALL BE EQUAL TO  FIFTY  PERCENT
OF  THE  COST OF VOLTAGE REGULATION TECHNOLOGY, AS PROVIDED IN PARAGRAPH
TWO OF THIS SUBSECTION, UP TO  A  ONE  THOUSAND  DOLLAR  LIMIT  FOR  ALL
PURCHASES MADE BY SUCH TAXPAYER DURING THE TAXABLE YEAR.
  (2)  COST  OF VOLTAGE REGULATION TECHNOLOGY. THE NEW YORK STATE ENERGY
RESEARCH AND DEVELOPMENT AUTHORITY SHALL  ADOPT  RULES  AND  REGULATIONS
SETTING  FORTH  VOLTAGE  REGULATION  TECHNOLOGIES  WHICH QUALIFY FOR THE
CREDIT UNDER THIS SUBSECTION, PROVIDED THAT SUCH TECHNOLOGIES  SHALL  BE
REQUIRED  TO IMPROVE GRID EFFICIENCY, RAISE OR LOWER VOLTAGE DYNAMICALLY
AND BE AT LEAST NINETY-NINE PERCENT EFFICIENT  ACROSS  AT  LEAST  NINETY
PERCENT  OF  THE  ELECTRICAL  LOAD CURVE. SUCH AUTHORITY SHALL DEVELOP A
LIST OF SUCH IMPROVEMENTS AND PRODUCTS AND MAKE SUCH LIST  AVAILABLE  ON
ITS WEBSITE.
  (3)  APPLICATION OF CREDIT. IF THE AMOUNT OF CREDIT ALLOWED UNDER THIS
SUBSECTION FOR ANY TAXABLE YEAR SHALL EXCEED THE TAXPAYER'S TAX FOR SUCH
YEAR, THE EXCESS SHALL BE TREATED AS AN OVERPAYMENT OF TAX TO BE CREDIT-
ED OR REFUNDED IN ACCORDANCE WITH THE PROVISIONS OF  SUBSECTION  (C)  OF
SECTION  SIX HUNDRED EIGHTY-SIX OF THIS ARTICLE, PROVIDED, HOWEVER, THAT
NO INTEREST SHALL BE PAID THEREON.
  S 4. This act shall take effect on the first of January next  succeed-
ing  the  date  on  which  it shall have become a law and shall apply to
taxable years commencing on and after such date.  Effective immediately,
the addition, amendment and/or repeal of any rule or  regulation  neces-
sary  for  the  implementation  of  this  act  on its effective date are
authorized to be made and  completed  by  the  New  York  state  energy,
research and development authority on or before such effective date.

Co-Sponsors

S3724A (ACTIVE) - Bill Details

See Assembly Version of this Bill:
A2377B
Current Committee:
Law Section:
Tax Law
Laws Affected:
Amd §§210 & 606, Tax L
Versions Introduced in Previous Legislative Sessions:
2011-2012: S3426A, A10123
2009-2010: S3519

S3724A (ACTIVE) - Bill Texts

view summary

Provides for a tax credit for the purchase of voltage regulation technology equal to fifty percent of the cost, up to a $1000 limit for all voltage regulation technology; provides for standards to be set by NYSERDA.

view sponsor memo
BILL NUMBER:S3724A

TITLE OF BILL: An act to amend the tax law, in relation to providing
a tax credit for the purchase of voltage regulation technology

SUMMARY OF PROVISIONS: This bill amends the Tax Law.

Section 1 amends Section 210 of the Tax Law, by adding a new
subdivision 48 creating a credit for the purchase of voltage
regulation technology. The section defines eligibility and other
restrictions and requirements, and provides for a tax credit equal to
fifty percent of the cost of voltage regulation technology, up to one
thousand dollars, for all purchases made by such taxpayer.

Section 2 adds a new clause (xxxvii) to section 606 of the Tax Law
providing for a credit for the purchase of voltage regulation
technology under subsection (xx).

Section 3 amends section 606 by adding a new subsection (xx). This
subsection provides for a credit for the purchase of voltage
regulation technology. The section defines eligibility and other
restrictions and requirements, and provides for a tax credit equal to
fifty percent of the purchase price of such technology up to a one
thousand dollar limit for all purchases made by such taxpayer.

Section 4 provides that this act shall take effect on the first of
January next succeeding the date on which it shall have become law,
and shall apply to taxable years commencing on and after such date.

PURPOSE AND JUSTIFICATION: Demand for electricity continues to
increase in New York. Supplying such increased demand must eventually
lead to construction of new power plants, increased carbon emissions
and increased demand for foreign oil. It makes more sense to increase
efficiency, when possible, both to reduce energy costs for homeowners
and businesses and to reduce the need for more electricity. This bill
gives added incentive to taxpayers to invest in voltage regulation
technology that will allow them to use electricity more efficiently,
reducing their costs while at the same time helping our environment.

PRIOR LEGISLATIVE HISTORY: 2009-10 - S.3519 -- INVESTIGATIONS 2011-12
- S.3426-A/A.10123 - FINANCE/Ways & Means 2013 - S.3724/A.2377-A -
INVESTIGATIONS/Ways & Means

FISCAL IMPLICATIONS: To be determined.

EFFECTIVE DATE: This act shall take effect on the first of January
next succeeding the date on which it shall have become law and shall
apply to taxable years commencing on and after such date.

view full text
download pdf
                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                 3724--A

                       2013-2014 Regular Sessions

                            I N  S E N A T E

                            February 12, 2013
                               ___________

Introduced  by  Sens.  RANZENHOFER,  LARKIN,  MAZIARZ  -- read twice and
  ordered printed, and when printed to be committed to the Committee  on
  Investigations and Government Operations -- recommitted to the Commit-
  tee  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 providing a tax credit for
  the purchase of voltage regulation technology

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

  Section  1.  Section  210  of  the  tax law is amended by adding a new
subdivision 48 to read as follows:
  48. CREDIT FOR THE PURCHASE OF VOLTAGE  REGULATION  TECHNOLOGY.    (A)
ALLOWANCE AND AMOUNT OF CREDIT. A TAXPAYER SHALL BE ALLOWED A CREDIT, TO
BE  COMPUTED AS PROVIDED IN THIS SUBDIVISION, AGAINST THE TAX IMPOSED BY
THIS ARTICLE. THE AMOUNT OF THE CREDIT SHALL BE EQUAL TO  FIFTY  PERCENT
OF  THE  COST OF VOLTAGE REGULATION TECHNOLOGY, AS PROVIDED IN PARAGRAPH
(B) OF THIS SUBDIVISION, UP TO A  ONE  THOUSAND  DOLLAR  LIMIT  FOR  ALL
PURCHASES MADE BY SUCH TAXPAYER DURING THE TAXABLE YEAR.
  (B)  COST  OF VOLTAGE REGULATION TECHNOLOGY. THE NEW YORK STATE ENERGY
RESEARCH AND DEVELOPMENT AUTHORITY SHALL  ADOPT  RULES  AND  REGULATIONS
SETTING  FORTH  VOLTAGE  REGULATION  TECHNOLOGIES  WHICH QUALIFY FOR THE
CREDIT UNDER THIS SUBDIVISION, PROVIDED THAT SUCH TECHNOLOGIES SHALL  BE
REQUIRED  TO IMPROVE GRID EFFICIENCY, RAISE OR LOWER VOLTAGE DYNAMICALLY
AND BE AT LEAST NINETY-NINE PERCENT EFFICIENT  ACROSS  AT  LEAST  NINETY
PERCENT  OF  THE  ELECTRICAL  LOAD CURVE. SUCH AUTHORITY SHALL DEVELOP A
LIST OF SUCH IMPROVEMENTS AND PRODUCTS AND MAKE SUCH LIST  AVAILABLE  ON
ITS WEBSITE.
  (C)  APPLICATION OF CREDIT.  THE CREDIT ALLOWED UNDER THIS SUBDIVISION
FOR ANY TAXABLE YEAR SHALL NOT REDUCE THE TAX DUE FOR SUCH YEAR TO  LESS

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD02564-04-4

S. 3724--A                          2

THAN  THE  HIGHER OF THE AMOUNTS PRESCRIBED IN PARAGRAPHS (C) AND (D) OF
SUBDIVISION ONE OF THIS SECTION.
  S  2. Subparagraph (B) of paragraph 1 of subsection (i) of section 606
of the tax law is amended by adding a new clause  (xxxvii)  to  read  as
follows:

(XXXVII) CREDIT FOR THE PURCHASE OF  AMOUNT OF CREDIT UNDER
VOLTAGE REGULATION TECHNOLOGY UNDER  SUBDIVISION FORTY-EIGHT OF
SUBSECTION (XX)                      SECTION TWO HUNDRED TEN
  S  3.  Subsections  (yy)  and  (zz)  of section 606 of the tax law, as
relettered by section 5 of part H of chapter 1 of the laws of 2003,  are
relettered  subsections  (yyy)  and  (zzz)  and a new subsection (xx) is
added to read as follows:
  (XX) CREDIT FOR THE PURCHASE OF VOLTAGE REGULATION  TECHNOLOGY.    (1)
ALLOWANCE AND AMOUNT OF CREDIT. A TAXPAYER SHALL BE ALLOWED A CREDIT, TO
BE  COMPUTED  AS PROVIDED IN THIS SUBSECTION, AGAINST THE TAX IMPOSED BY
THIS ARTICLE. THE AMOUNT OF THE CREDIT SHALL BE EQUAL TO  FIFTY  PERCENT
OF  THE  COST OF VOLTAGE REGULATION TECHNOLOGY, AS PROVIDED IN PARAGRAPH
TWO OF THIS SUBSECTION, UP TO  A  ONE  THOUSAND  DOLLAR  LIMIT  FOR  ALL
PURCHASES MADE BY SUCH TAXPAYER DURING THE TAXABLE YEAR.
  (2)  COST  OF VOLTAGE REGULATION TECHNOLOGY. THE NEW YORK STATE ENERGY
RESEARCH AND DEVELOPMENT AUTHORITY SHALL  ADOPT  RULES  AND  REGULATIONS
SETTING  FORTH  VOLTAGE  REGULATION  TECHNOLOGIES  WHICH QUALIFY FOR THE
CREDIT UNDER THIS SUBSECTION, PROVIDED THAT SUCH TECHNOLOGIES  SHALL  BE
REQUIRED  TO IMPROVE GRID EFFICIENCY, RAISE OR LOWER VOLTAGE DYNAMICALLY
AND BE AT LEAST NINETY-NINE PERCENT EFFICIENT  ACROSS  AT  LEAST  NINETY
PERCENT  OF  THE  ELECTRICAL  LOAD CURVE. SUCH AUTHORITY SHALL DEVELOP A
LIST OF SUCH IMPROVEMENTS AND PRODUCTS AND MAKE SUCH LIST  AVAILABLE  ON
ITS WEBSITE.
  (3)  APPLICATION OF CREDIT. IF THE AMOUNT OF CREDIT ALLOWED UNDER THIS
SUBSECTION FOR ANY TAXABLE YEAR SHALL EXCEED THE TAXPAYER'S TAX FOR SUCH
YEAR, THE EXCESS SHALL BE TREATED AS AN OVERPAYMENT OF TAX TO BE CREDIT-
ED OR REFUNDED IN ACCORDANCE WITH THE PROVISIONS OF  SUBSECTION  (C)  OF
SECTION  SIX HUNDRED EIGHTY-SIX OF THIS ARTICLE, PROVIDED, HOWEVER, THAT
NO INTEREST SHALL BE PAID THEREON.
  S 4. This act shall take effect on the first of January next  succeed-
ing  the  date  on  which  it shall have become a law and shall apply to
taxable years commencing on and after such date.  Effective immediately,
the addition, amendment and/or repeal of any rule or  regulation  neces-
sary  for  the  implementation  of  this  act  on its effective date are
authorized to be made and  completed  by  the  New  York  state  energy,
research and development authority on or before such effective date.

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