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Assembly Bill A4201A

2015-2016 Legislative Session

Extends the solar energy system equipment tax credit carryover period

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Archive: Last Bill Status - In Assembly Committee

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Bill Amendments

2015-A4201 - Details

See Senate Version of this Bill:
S2879
Current Committee:
Assembly Ways And Means
Law Section:
Tax Law
Laws Affected:
Amd §606, Tax L
Versions Introduced in Other Legislative Sessions:
2011-2012: A7066, S4623
2013-2014: A4701, S3651

2015-A4201 - Summary

Extends the solar energy system equipment tax credit carryover period from five years to ten years.

2015-A4201 - 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-A4201A (ACTIVE) - Details

See Senate Version of this Bill:
S2879
Current Committee:
Assembly Ways And Means
Law Section:
Tax Law
Laws Affected:
Amd §606, Tax L
Versions Introduced in Other Legislative Sessions:
2011-2012: A7066, S4623
2013-2014: A4701, S3651

2015-A4201A (ACTIVE) - Summary

Extends the solar energy system equipment tax credit carryover period from five years to ten years.

2015-A4201A (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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