senate Bill S6249

Vetoed By Governor
2015-2016 Legislative Session

Establishes a tax credit for the purchase and installation of geothermal energy systems

download bill text pdf

Sponsored By

Archive: Last Bill Status Via A9925 - Vetoed by Governor


  • Introduced
  • In Committee
  • On Floor Calendar
    • Passed Senate
    • Passed Assembly
  • Delivered to Governor
  • Vetoed by Governor

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Actions

view actions (13)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Nov 28, 2016 tabled
vetoed memo.253
Nov 16, 2016 delivered to governor
Jun 15, 2016 returned to assembly
passed senate
3rd reading cal.1174
substituted for s6249
Jun 15, 2016 substituted by a9925
Jun 01, 2016 advanced to third reading
May 25, 2016 2nd report cal.
May 24, 2016 1st report cal.1174
May 04, 2016 reported and committed to finance
Jan 06, 2016 referred to investigations and government operations

Votes

view votes

May 24, 2016 - Finance committee Vote

S6249
35
0
committee
35
Aye
0
Nay
0
Aye with Reservations
0
Absent
2
Excused
0
Abstained
show Finance committee vote details

May 4, 2016 - Investigations and Government Operations committee Vote

S6249
6
0
committee
6
Aye
0
Nay
1
Aye with Reservations
0
Absent
2
Excused
0
Abstained
show Investigations and Government Operations committee vote details

Investigations and Government Operations Committee Vote: May 4, 2016

aye wr (1)
excused (2)

Co-Sponsors

S6249 - Details

See Assembly Version of this Bill:
A9925
Law Section:
Tax Law
Laws Affected:
Amd ยง606, Tax L

S6249 - Summary

Establishes a tax credit for the purchase and installation of geothermal energy systems.

S6249 - Sponsor Memo

S6249 - Bill Text download pdf

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

                                  6249

                            I N  S E N A T E

                               (PREFILED)

                             January 6, 2016
                               ___________

Introduced  by  Sen.  ORTT  --  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  credit  for
  geothermal energy systems

  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)  GEOTHERMAL  ENERGY SYSTEMS CREDIT.   (1) GENERAL. AN INDIVIDUAL
TAXPAYER SHALL BE ALLOWED A CREDIT AGAINST THE TAX IMPOSED BY THIS ARTI-
CLE EQUAL TO TWENTY-FIVE PERCENT OF QUALIFIED GEOTHERMAL  ENERGY  SYSTEM
EXPENDITURES, EXCEPT AS PROVIDED IN SUBPARAGRAPH (D) OF PARAGRAPH TWO OF
THIS  SUBSECTION. THIS CREDIT SHALL NOT EXCEED FIVE THOUSAND DOLLARS FOR
A QUALIFIED GEOTHERMAL ENERGY SYSTEM  PLACED  IN  SERVICE  ON  OR  AFTER
SEPTEMBER FIRST, TWO THOUSAND SIXTEEN.
  (2)  QUALIFIED  GEOTHERMAL  ENERGY  SYSTEMS EXPENDITURES. (A) THE TERM
"QUALIFIED GEOTHERMAL ENERGY  SYSTEM  EXPENDITURES"  MEANS  EXPENDITURES
FOR:
  (I)  THE  PURCHASE  OF  GEOTHERMAL  ENERGY  SYSTEM  EQUIPMENT WHICH IS
INSTALLED IN CONNECTION WITH RESIDENTIAL PROPERTY WHICH IS  (I)  LOCATED
IN THIS STATE AND (II) WHICH IS USED BY THE TAXPAYER AS HIS OR HER PRIN-
CIPAL  RESIDENCE  AT  THE TIME THE GEOTHERMAL ENERGY SYSTEM EQUIPMENT IS
PLACED IN SERVICE;
  (II) THE LEASE OF GEOTHERMAL ENERGY SYSTEM EQUIPMENT UNDER  A  WRITTEN
AGREEMENT  THAT SPANS AT LEAST TEN YEARS WHERE SUCH EQUIPMENT OWNED BY A
PERSON OTHER THAN THE TAXPAYER IS INSTALLED IN CONNECTION WITH  RESIDEN-
TIAL  PROPERTY WHICH IS (I) LOCATED IN THIS STATE AND (II) WHICH IS USED
BY THE TAXPAYER AS HIS OR HER PRINCIPAL RESIDENCE AT THE TIME THE GEOTH-
ERMAL ENERGY SYSTEM EQUIPMENT IS PLACED IN SERVICE; OR
  (III) THE PURCHASE OF POWER UNDER A WRITTEN AGREEMENT  THAT  SPANS  AT
LEAST  TEN YEARS WHEREUNDER THE POWER PURCHASED IS GENERATED BY GEOTHER-
MAL ENERGY SYSTEM EQUIPMENT OWNED BY A PERSON OTHER  THAN  THE  TAXPAYER

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets

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