Senate Bill S5744

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

                                  5744

                       2015-2016 Regular Sessions

                            I N  S E N A T E

                              June 1, 2015
                               ___________

Introduced  by  Sen.  GRIFFO -- 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  personal
  income  tax credit for the purchase and installation of a new residen-
  tial energy storage system

  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 RESIDENTIAL ENERGY STORAGE SYSTEMS.  (1)  GENERAL.  A
TAXPAYER SHALL BE ALLOWED A CREDIT AGAINST THE TAX IMPOSED BY THIS ARTI-
CLE  FOR  THE  PURCHASE  AND INSTALLATION OF A NEW QUALIFIED RESIDENTIAL
ENERGY STORAGE SYSTEM BY THE TAXPAYER IN HIS OR HER PRIMARY OR SECONDARY
RESIDENCE LOCATED IN THIS STATE. THE AMOUNT OF THE CREDIT SHALL BE TWEN-
TY-FIVE PERCENT OF THE EXPENDITURE INCURRED IN PURCHASING AND INSTALLING
A NEW QUALIFIED RESIDENTIAL STORAGE SYSTEM, BUT NOT TO EXCEED THE  MAXI-
MUM CREDIT OF SEVEN THOUSAND DOLLARS.
  (2)  ENERGY STORAGE DEVICE. AN ENERGY STORAGE DEVICE IS A COMMERCIALLY
AVAILABLE ENERGY STORAGE DEVICE OF A NON  LEAD  ACID  TYPE,  CAPABLE  OF
COLLECTING ENERGY, STORING SUCH ENERGY FOR A PERIOD OF TIME, IS SUITABLE
FOR INDOOR OR OUTDOOR USE, AND IS MANUFACTURED BY A MANUFACTURER OR SOLD
BY A DISTRIBUTOR WHICH HAS A BATTERY RETURN OR RECYCLING PROGRAM.
  (3)  NEW  QUALIFIED RESIDENTIAL ENERGY STORAGE SYSTEM. A NEW QUALIFIED
RESIDENTIAL ENERGY STORAGE SYSTEM IS A SYSTEM WHOSE ORIGINAL  USE  BEGAN
WITH THE TAXPAYER WHICH IS COMPOSED OF AN ENERGY STORAGE DEVICE OR ENER-
GY STORAGE DEVICES THAT ARE CONNECTED TO ANY NEW OR EXISTING SOLAR ELEC-
TRIC  GENERATING  EQUIPMENT,  AS DEFINED IN PARAGRAPH (D) OF SUBDIVISION
ONE OF SECTION SIXTY-SIX-J OF THE PUBLIC SERVICE LAW, FUEL CELL ELECTRIC
GENERATING EQUIPMENT, AS DEFINED IN PARAGRAPH (G) OF SUBDIVISION ONE  OF
SECTION SIXTY-SIX-J OF THE PUBLIC SERVICE LAW, OR WIND ELECTRIC GENERAT-

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD10933-01-5
              

S. 5744                             2

ING EQUIPMENT, AS DEFINED IN PARAGRAPH (F) OF SUBDIVISION ONE OF SECTION
SIXTY-SIX-1  OF  THE  PUBLIC SERVICE LAW, WHICH CAN BE EITHER ON GRID OR
OFF GRID AND IS CAPABLE OF DELIVERING ELECTRIC POWER FOR RESIDENTIAL USE
FOR A PERIOD OF TIME AT NOT LESS THAN THREE KILOWATT HOURS UNDER CERTAIN
LOADING CONDITIONS.
  (4) MULTIPLE TAXPAYERS. WHERE A NEW QUALIFIED RESIDENTIAL ENERGY STOR-
AGE  SYSTEM  IS  PURCHASED AND INSTALLED IN A RESIDENCE SHARED BY TWO OR
MORE TAXPAYERS, THE AMOUNT OF THE CREDIT ALLOWABLE UNDER THIS SUBSECTION
FOR EACH SUCH TAXPAYER SHALL BE PRORATED ACCORDING TO THE TOTAL EXPENDI-
TURE FOR SUCH SYSTEM CONTRIBUTED BY EACH TAXPAYER.
  (5) WHEN CREDIT ALLOWED. THE CREDIT PROVIDED FOR  IN  THIS  SUBSECTION
SHALL BE ALLOWED WITH RESPECT TO THE TAXABLE YEAR IN WHICH THE NEW QUAL-
IFIED RESIDENTIAL ENERGY STORAGE SYSTEM IS PLACED IN SERVICE.
  (6) 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 immediately, and shall  apply  to  the
tax year in which it shall take effect and all subsequent tax years.