senate Bill S1260A

2015-2016 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
  • On Floor Calendar
    • Passed Senate
    • Passed Assembly
  • Delivered to Governor
  • Signed/Vetoed by Governor

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Actions

view actions (4)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Jan 21, 2016 print number 1260a
Jan 21, 2016 amend and recommit to investigations and government operations
Jan 06, 2016 referred to investigations and government operations
Jan 09, 2015 referred to investigations and government operations

Co-Sponsors

S1260 (ACTIVE) - Details

See Assembly Version of this Bill:
A9132
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, A9090
2013-2014: S1412, A1782
2017-2018: S4714, A5646
2019-2020: S752, A6420

S1260 (ACTIVE) - Summary

Relates to increasing the tax credit provided for solar energy system equipment from $5,000 to $10,000.

S1260 (ACTIVE) - Sponsor Memo

S1260 (ACTIVE) - Bill Text download pdf

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

                                  1260

                       2015-2016 Regular Sessions

                            I N  S E N A T E

                             January 9, 2015
                               ___________

Introduced  by  Sen.  MONTGOMERY  -- 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 FIFTEEN, AND TEN THOUSAND
DOLLARS  FOR  QUALIFIED  SOLAR  ENERGY EQUIPMENT PLACED IN SERVICE ON OR
AFTER SEPTEMBER FIRST, TWO THOUSAND FIFTEEN.
  S 2. This act shall take effect immediately and shall apply to taxable
years commencing on and after January 1, 2015.



 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD02847-01-5

Co-Sponsors

S1260A (ACTIVE) - Details

See Assembly Version of this Bill:
A9132
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, A9090
2013-2014: S1412, A1782
2017-2018: S4714, A5646
2019-2020: S752, A6420

S1260A (ACTIVE) - Summary

Relates to increasing the tax credit provided for solar energy system equipment from $5,000 to $10,000.

S1260A (ACTIVE) - Sponsor Memo

S1260A (ACTIVE) - Bill Text download pdf

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

                                 1260--A

                       2015-2016 Regular Sessions

                            I N  S E N A T E

                             January 9, 2015
                               ___________

Introduced  by  Sens.  MONTGOMERY,  SQUADRON  --  read twice and ordered
  printed, 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

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 SIXTEEN, AND TEN THOUSAND
DOLLARS  FOR  QUALIFIED  SOLAR  ENERGY EQUIPMENT PLACED IN SERVICE ON OR
AFTER SEPTEMBER FIRST, TWO THOUSAND SIXTEEN.
  S 2. This act shall take effect immediately and shall apply to taxable
years commencing on and after January 1, 2016.


 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD02847-02-6

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