| Date of Action |
Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|---|---|
| Feb 08, 2016 |
print number 2879a |
| Feb 08, 2016 |
amend and recommit to investigations and government operations |
| Jan 06, 2016 |
referred to investigations and government operations |
| Jan 29, 2015 |
referred to investigations and government operations |
Senate Bill S2879A
2015-2016 Legislative Session
Sponsored By
(R) Senate District
Archive: Last Bill Status - In Senate Committee Investigations And Government Operations Committee
Actions
Bill Amendments
2015-S2879 - Details
2015-S2879 - Sponsor Memo
BILL NUMBER:S2879
TITLE OF BILL:
An act to amend the tax law, in relation to the solar energy system
equipment tax credit
PURPOSE OR GENERAL IDEA OF BILL:
This legislation extends the solar energy system equipment tax credit
carryover period from five to ten years.
SUMMARY OF SPECIFIC PROVISIONS:
Paragraph 8 of subsection (g-1) of Section 606 of the tax law, as
amended by Chapter 378 of the Laws of 2005 and as renumbered by
Chapter 128 of the Laws of 2007, is amended to extend the solar energy
system equipment tax credit carryover period from five to ten taxable
years.
JUSTIFICATION:
New York's solar energy system equipment tax credit provides
individuals with an incentive to choose to invest in photovoltaic
systems as an alternative energy choice. The current credit system,
subject to certain limits, is 25% of the qualified solar energy system
2015-S2879 - Bill Text download pdf
S T A T E O F N E W Y O R K
________________________________________________________________________
S. 2879 A. 4201
2015-2016 Regular Sessions
S E N A T E - A S S E M B L Y
January 29, 2015
___________
IN SENATE -- Introduced by Sen. LAVALLE -- read twice and ordered print-
ed, and when printed to be committed to the Committee on Investi-
gations and Government Operations
IN ASSEMBLY -- 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 the solar energy system
equipment tax credit
THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:
Section 1. Paragraph 8 of subsection (g-1) of section 606 of the tax
law, as amended by chapter 378 of the laws of 2005 and as renumbered by
chapter 128 of the laws of 2007, is amended to read as follows:
(8) 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] TEN 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 immediately and shall apply to taxable
years beginning on or after January 1, 2016.
EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD08166-01-5
2015-S2879A (ACTIVE) - Details
2015-S2879A (ACTIVE) - Sponsor Memo
BILL NUMBER: S2879A
TITLE OF BILL : An act to amend the tax law, in relation to the
solar energy system equipment tax credit
PURPOSE :
This legislation extends the solar energy system equipment tax credit
carryover period from five to ten years.
SUMMARY OF PROVISIONS :
Paragraph 8 of subsection (g-1) of Section 606 of the tax law, as
amended by Chapter 378 of the Laws of 2005 and as renumbered by
Chapter 128 of the Laws of 2007, is amended to extend the solar energy
system equipment tax credit carryover period from five to ten taxable
years.
JUSTIFICATION :
New York's solar energy system equipment tax credit provides
individuals with an incentive to choose to invest in photovoltaic
systems as an alternative energy choice. The current credit system,
subject to certain limits, is 25% of the qualified solar energy system
equipment expenditures for the purchase and installation of a system
that uses solar radiation to produce energy for heating, cooling, hot
2015-S2879A (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K
________________________________________________________________________
S. 2879--A A. 4201--A
2015-2016 Regular Sessions
S E N A T E - A S S E M B L Y
January 29, 2015
___________
IN SENATE -- Introduced by Sen. LAVALLE -- read twice and ordered print-
ed, and when printed to be committed to the Committee on Investi-
gations 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 committee
IN ASSEMBLY -- Introduced by M. of A. THIELE -- read once and referred
to the Committee on Ways and Means -- recommitted to the Committee on
Ways and Means in accordance with Assembly Rule 3, sec. 2 -- committee
discharged, bill amended, ordered reprinted as amended and recommitted
to said committee
AN ACT to amend the tax law, in relation to the solar energy system
equipment tax credit
THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:
Section 1. Paragraph 8 of subsection (g-1) of section 606 of the tax
law, as amended by chapter 378 of the laws of 2005 and as renumbered by
chapter 128 of the laws of 2007, is amended to read as follows:
(8) 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] TEN 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 immediately and shall apply to taxable
years beginning on or after January 1, 2017.
EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD08166-02-6
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