Senate Bill S1412A

2013-2014 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 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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Bill Amendments

co-Sponsors

2013-S1412 - Details

Current Committee:
Senate Investigations And Government Operations
Law Section:
Tax Law
Laws Affected:
Amd §606, Tax L
Versions Introduced in Other Legislative Sessions:
2011-2012: S6242
2015-2016: S1260
2017-2018: S4714
2019-2020: S752

2013-S1412 - Summary

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

2013-S1412 - Sponsor Memo

2013-S1412 - Bill Text download pdf

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

                                  1412

                       2013-2014 Regular Sessions

                            I N  S E N A T E

                               (PREFILED)

                             January 9, 2013
                               ___________

Introduced  by Sens. MONTGOMERY, ADAMS, DILAN, KENNEDY, SQUADRON -- 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 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 375 of the laws of 2012, 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, except as provided in
subparagraph (D) of paragraph two of this subsection. 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 THIRTEEN, AND TEN THOU-
SAND DOLLARS FOR QUALIFIED SOLAR ENERGY EQUIPMENT PLACED IN  SERVICE  ON
OR AFTER SEPTEMBER FIRST, TWO THOUSAND THIRTEEN.
  S 2. This act shall take effect immediately and shall apply to taxable
years commencing on and after January 1, 2013.



 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD01986-01-3


              

co-Sponsors

2013-S1412A (ACTIVE) - Details

Current Committee:
Senate Investigations And Government Operations
Law Section:
Tax Law
Laws Affected:
Amd §606, Tax L
Versions Introduced in Other Legislative Sessions:
2011-2012: S6242
2015-2016: S1260
2017-2018: S4714
2019-2020: S752

2013-S1412A (ACTIVE) - Summary

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

2013-S1412A (ACTIVE) - Sponsor Memo

2013-S1412A (ACTIVE) - Bill Text download pdf

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

                                 1412--A

                       2013-2014 Regular Sessions

                            I N  S E N A T E

                               (PREFILED)

                             January 9, 2013
                               ___________

Introduced by Sens. MONTGOMERY, DILAN, KENNEDY, PARKER, SQUADRON -- read
  twice  and  ordered  printed,  and when printed to be committed to the
  Committee on Investigations and Government 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 commit-
  tee

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 375 of the laws of 2012, 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, except as  provided  in
subparagraph  (D) of paragraph two of this subsection. 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 FOURTEEN, AND  TEN  THOU-
SAND  DOLLARS  FOR QUALIFIED SOLAR ENERGY EQUIPMENT PLACED IN SERVICE ON
OR AFTER SEPTEMBER FIRST, TWO THOUSAND FOURTEEN.
  S 2. This act shall take effect immediately and shall apply to taxable
years commencing on and after January 1, 2014.


 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD01986-02-4

              

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