senate Bill S5119A

2017-2018 Legislative Session

Relates to wind energy system equipment credit

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 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

Co-Sponsors

S5119 (ACTIVE) - Details

Current Committee:
Senate Investigations And Government Operations
Law Section:
Tax Law
Laws Affected:
Amd §606, Tax L

S5119 (ACTIVE) - Summary

Relates to wind energy system equipment credit.

S5119 (ACTIVE) - Sponsor Memo

S5119 (ACTIVE) - 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

S5119A (ACTIVE) - Details

Current Committee:
Senate Investigations And Government Operations
Law Section:
Tax Law
Laws Affected:
Amd §606, Tax L

S5119A (ACTIVE) - Summary

Relates to wind energy system equipment credit.

S5119A (ACTIVE) - Sponsor Memo

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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