Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Jan 29, 2018 |
print number 5119a |
Jan 29, 2018 |
amend and recommit to investigations and government operations |
Jan 03, 2018 |
referred to investigations and government operations |
Mar 08, 2017 |
referred to investigations and government operations |
Senate Bill S5119A
2017-2018 Legislative Session
Sponsored By
(R, C) 53rd Senate District
Archive: Last Bill Status - In Senate Committee Investigations And Government Operations Committee
- Introduced
-
- In Committee Assembly
- In Committee Senate
-
- On Floor Calendar Assembly
- On Floor Calendar Senate
-
- Passed Assembly
- Passed Senate
- Delivered to Governor
- Signed By Governor
Actions
Bill Amendments
co-Sponsors
(R) Senate District
(D, WF) 21st Senate District
2017-S5119 - Details
- Current Committee:
- Senate Investigations And Government Operations
- Law Section:
- Tax Law
- Laws Affected:
- Amd §606, Tax L
2017-S5119 - Sponsor Memo
BILL NUMBER: S5119 TITLE OF BILL : An act to amend the tax law, in relation to wind energy system equipment credit; and providing for the repeal of certain provisions therefor PURPOSE : The purpose of this legislation is to encourage homeowners, commercial businesses, and farms to install wind energy equipment by allowing those who lease such equipment or purchase power under a written agreement with a third party to benefit from a solar equipment tax credit. SUMMARY OF PROVISIONS : Section one allows a taxpayer to qualify for wind equipment tax credit not to exceed $15,000 for individuals or $100,000 for commercial and farms in cases where the lease of wind equipment under a written agreement spans at least ten years or a power purchase agreement of at least ten years from a third party is in force. Additionally this section includes and clarifies expenditures for the lease of wind energy system equipment. Section two provides the effective date.
2017-S5119 - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 5119 2017-2018 Regular Sessions I N S E N A T E March 8, 2017 ___________ 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 wind energy system equipment credit; and providing for the repeal of certain provisions therefor 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) WIND ENERGY SYSTEM EQUIPMENT 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 WIND ENERGY SYSTEM EQUIP- MENT EXPENDITURES, EXCEPT AS PROVIDED IN SUBPARAGRAPH (D) OF PARAGRAPH TWO OF THIS SUBSECTION. THIS CREDIT SHALL NOT EXCEED FIFTEEN THOUSAND DOLLARS FOR A RESIDENTIAL INSTALLATION OR ONE HUNDRED THOUSAND DOLLARS FOR A FARM OR COMMERCIAL INSTALLATION. (2) QUALIFIED WIND ENERGY SYSTEM EQUIPMENT EXPENDITURES. (A) THE TERM "QUALIFIED WIND ENERGY SYSTEM EQUIPMENT EXPENDITURES" MEANS EXPENDITURES FOR: (I) THE PURCHASE OF WIND ENERGY SYSTEM EQUIPMENT WHICH IS INSTALLED IN CONNECTION WITH RESIDENTIAL, AGRICULTURAL OR COMMERCIAL PROPERTY WHICH IS (I) LOCATED IN THIS STATE AND (II) WHICH, IF RESIDENTIAL, IS USED BY THE TAXPAYER AS HIS OR HER PRINCIPAL RESIDENCE OR FARM OPERATION AT THE TIME THE WIND ENERGY SYSTEM EQUIPMENT IS PLACED IN SERVICE; (II) THE LEASE OF WIND ENERGY SYSTEM EQUIPMENT UNDER A WRITTEN AGREE- MENT THAT SPANS AT LEAST TEN YEARS WHERE SUCH EQUIPMENT OWNED BY A PERSON OTHER THAN THE TAXPAYER IS INSTALLED IN CONNECTION WITH RESIDEN- TIAL, AGRICULTURAL OR COMMERCIAL PROPERTY WHICH IS (I) LOCATED IN THIS STATE AND (II) WHICH, IF RESIDENTIAL, IS USED BY THE TAXPAYER AS HIS OR HER PRINCIPAL RESIDENCE OR FARM OPERATION AT THE TIME THE WIND ENERGY SYSTEM EQUIPMENT IS PLACED IN SERVICE; OR EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted.
co-Sponsors
(R) Senate District
(R, C) 60th Senate District
(R, C) 58th Senate District
(D, WF) 21st Senate District
2017-S5119A (ACTIVE) - Details
- Current Committee:
- Senate Investigations And Government Operations
- Law Section:
- Tax Law
- Laws Affected:
- Amd §606, Tax L
2017-S5119A (ACTIVE) - Sponsor Memo
BILL NUMBER: S5119A SPONSOR: GRIFFO TITLE OF BILL: An act to amend the tax law, in relation to wind ener- gy system equipment credit; and providing for the repeal of certain provisions therefor PURPOSE: The purpose of this legislation is to encourage homeowners, commercial businesses, and farms to install wind energy equipment by allowing those who lease such equipment or purchase power under a written agreement with a third party to benefit from a solar equipment tax credit. SUMMARY OF PROVISIONS: Section one allows a taxpayer to qualify for wind equipment tax credit not to exceed $15,000 for individuals or $100,000 for commercial and farms in cases where the lease of wind equipment under a written agree- ment spans at least ten years or a power purchase agreement of at least ten years from a third party is in force. Additionally this section
2017-S5119A (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 5119--A 2017-2018 Regular Sessions I N S E N A T E March 8, 2017 ___________ Introduced by Sens. GRIFFO, BOYLE, PARKER -- 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 wind energy system equipment credit; and providing for the repeal of certain provisions therefor 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) WIND ENERGY SYSTEM EQUIPMENT 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 WIND ENERGY SYSTEM EQUIP- MENT EXPENDITURES, EXCEPT AS PROVIDED IN SUBPARAGRAPH (D) OF PARAGRAPH TWO OF THIS SUBSECTION. THIS CREDIT SHALL NOT EXCEED FIFTEEN THOUSAND DOLLARS FOR A RESIDENTIAL INSTALLATION OR ONE HUNDRED THOUSAND DOLLARS FOR A FARM OR COMMERCIAL INSTALLATION. (2) QUALIFIED WIND ENERGY SYSTEM EQUIPMENT EXPENDITURES. (A) THE TERM "QUALIFIED WIND ENERGY SYSTEM EQUIPMENT EXPENDITURES" MEANS EXPENDITURES FOR: (I) THE PURCHASE OF WIND ENERGY SYSTEM EQUIPMENT WHICH IS INSTALLED IN CONNECTION WITH RESIDENTIAL, AGRICULTURAL OR COMMERCIAL PROPERTY WHICH IS (I) LOCATED IN THIS STATE AND (II) WHICH, IF RESIDENTIAL, IS USED BY THE TAXPAYER AS HIS OR HER PRINCIPAL RESIDENCE OR FARM OPERATION AT THE TIME THE WIND ENERGY SYSTEM EQUIPMENT IS PLACED IN SERVICE; (II) THE LEASE OF WIND ENERGY SYSTEM EQUIPMENT UNDER A WRITTEN AGREE- MENT THAT SPANS AT LEAST TEN YEARS WHERE SUCH EQUIPMENT OWNED BY A PERSON OTHER THAN THE TAXPAYER IS INSTALLED IN CONNECTION WITH RESIDEN- TIAL, AGRICULTURAL OR COMMERCIAL PROPERTY WHICH IS (I) LOCATED IN THIS EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted.
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