senate Bill S4714

2017-2018 Legislative Session

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

download bill text pdf

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Archive: Last Bill Status - Passed Senate


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

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Actions

view actions (7)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Jun 06, 2018 referred to ways and means
delivered to assembly
passed senate
ordered to third reading cal.1558
Jun 05, 2018 committee discharged and committed to rules
Jan 03, 2018 referred to investigations and government operations
Feb 24, 2017 referred to investigations and government operations

Co-Sponsors

S4714 (ACTIVE) - Details

See Assembly Version of this Bill:
A5646
Law Section:
Tax Law
Laws Affected:
Amd §606, Tax L
Versions Introduced in Other Legislative Sessions:
2011-2012: S6242, A9090
2013-2014: S1412, A1782
2015-2016: S1260, A9132
2019-2020: S752, A6420

S4714 (ACTIVE) - Summary

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

S4714 (ACTIVE) - Sponsor Memo

S4714 (ACTIVE) - Bill Text download pdf


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

                                  4714

                       2017-2018 Regular Sessions

                            I N  S E N A T E

                            February 24, 2017
                               ___________

Introduced  by  Sens.  MONTGOMERY, ADDABBO, COMRIE, KENNEDY, SQUADRON --
  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 from five thousand  dollars
  to ten thousand dollars

  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.
                                                           LBD06186-02-7

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