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Assembly Bill A5646

2017-2018 Legislative Session

Relates to increasing the tax credit provided for solar energy system equipment

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Archive: Last Bill Status - In Assembly Committee

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2017-A5646 (ACTIVE) - Details

See Senate Version of this Bill:
S4714
Current Committee:
Assembly Ways And Means
Law Section:
Tax Law
Laws Affected:
Amd §606, Tax L
Versions Introduced in Other Legislative Sessions:
2011-2012: A9090, S6242
2013-2014: A1782, S1412
2015-2016: A9132, S1260
2019-2020: A6420, S752
2021-2022: A4353
2023-2024: A292

2017-A5646 (ACTIVE) - Summary

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

2017-A5646 (ACTIVE) - Bill Text download pdf 

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   5646
 
                        2017-2018 Regular Sessions
 
                           I N  A S S E M B L Y
 
                             February 14, 2017
                                ___________
 
 Introduced  by  M. of A. WALKER, COLTON, PEOPLES-STOKES, MOSLEY, CRESPO,
   SIMON, BICHOTTE, HOOPER, BLAKE -- Multi-Sponsored by -- M. of A. RICH-
   ARDSON -- read once and referred to the Committee on Ways and Means
 
 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 SEVENTEEN, AND TEN  THOU-
 SAND  DOLLARS  FOR QUALIFIED SOLAR ENERGY EQUIPMENT PLACED IN SERVICE ON
 OR AFTER SEPTEMBER FIRST, TWO THOUSAND SEVENTEEN.
   § 2. This act shall take effect immediately and shall apply to taxable
 years commencing on and after January 1, 2017.
 
 
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD06186-01-7

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