S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   3651
 
                        2019-2020 Regular Sessions
 
                           I N  A S S E M B L Y
 
                             January 30, 2019
                                ___________
 
 Introduced  by M. of A. GUNTHER, ORTIZ, ABBATE, STECK, COOK, ABINANTI --
   read once and referred to the Committee on Ways and Means
 
 AN ACT to amend the tax  law,  in  relation  to  establishing  a  credit
   against  tax  for wind electric generating equipment installed on farm
   property

   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 ELECTRIC GENERATING EQUIPMENT CREDIT; FARM PROPERTY.    (1)
 GENERAL. A TAXPAYER SHALL BE ALLOWED A CREDIT AGAINST THE TAX IMPOSED BY
 THIS  ARTICLE  EQUAL  TO  TWENTY-FIVE PERCENT OF QUALIFIED WIND ELECTRIC
 GENERATING EQUIPMENT EXPENDITURES.  THIS CREDIT SHALL NOT  EXCEED  SEVEN
 THOUSAND FIVE HUNDRED DOLLARS.
   (2)  QUALIFIED  WIND  ELECTRIC GENERATING EQUIPMENT EXPENDITURES.  (A)
 THE TERM "QUALIFIED WIND  ELECTRIC  GENERATING  EQUIPMENT  EXPENDITURES"
 MEANS EXPENDITURES, LIMITED TO THE EXPENDITURE CAP SET FORTH IN SUBPARA-
 GRAPH  (B) OF THIS PARAGRAPH, FOR THE PURCHASE OF WIND ELECTRIC GENERAT-
 ING EQUIPMENT WHICH IS INSTALLED ON FARM PROPERTY WHICH IS  (I)  LOCATED
 IN  THIS  STATE  AND  (II)  USED BY THE TAXPAYER AS HIS OR HER PRINCIPAL
 PREMISES AT THE TIME THE WIND ELECTRIC GENERATING EQUIPMENT IS PLACED IN
 SERVICE.
   (B) FOR PURPOSES OF SUBPARAGRAPH  (A)  OF  THIS  PARAGRAPH,  THE  TERM
 "EXPENDITURE CAP" SHALL MEAN THE PRODUCT OF (I) SIX DOLLARS AND (II) THE
 NUMBER  OF  WATTS  INCLUDED  IN  THE RATED CAPACITY OF THE WIND ELECTRIC
 GENERATING EQUIPMENT.
   (C) SUCH QUALIFIED EXPENDITURES SHALL INCLUDE EXPENDITURES FOR MATERI-
 ALS, LABOR COSTS PROPERLY ALLOCABLE TO ON-SITE PREPARATION, ASSEMBLY AND
 ORIGINAL  INSTALLATION,  ARCHITECTURAL  AND  ENGINEERING  SERVICES,  AND
 DESIGNS  AND  PLANS DIRECTLY RELATED TO THE CONSTRUCTION OR INSTALLATION
 OF THE WIND ELECTRIC GENERATING EQUIPMENT.
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
              

                                                            LBD00394-01-9

 A. 3651                             2
 
   (D) SUCH QUALIFIED EXPENDITURES SHALL NOT INCLUDE  INTEREST  OR  OTHER
 FINANCE CHARGES.
   (3) WIND ELECTRIC GENERATING EQUIPMENT. THE TERM "WIND ELECTRIC GENER-
 ATING EQUIPMENT" SHALL MEAN EQUIPMENT WHICH, WHEN INSTALLED AT A TAXPAY-
 ER'S  PREMISES, USES WIND ENERGY FOR THE PURPOSE OF GENERATING ELECTRIC-
 ITY FOR USE AT  SUCH  PREMISES  AND  WHICH  HAS  A  RATED  CAPACITY  FOR
 GENERATING ELECTRICITY WHICH DOES NOT EXCEED ONE HUNDRED KILOWATTS.
   (4)  MULTIPLE  TAXPAYERS.  WHERE WIND ELECTRIC GENERATING EQUIPMENT IS
 PURCHASED AND INSTALLED IN A PRINCIPAL PREMISES SHARED BY  TWO  OR  MORE
 TAXPAYERS,  THE AMOUNT OF THE CREDIT ALLOWABLE UNDER THIS SUBSECTION FOR
 EACH SUCH TAXPAYER SHALL BE PRORATED ACCORDING TO THE PERCENTAGE OF  THE
 TOTAL  EXPENDITURE  FOR SUCH WIND ELECTRIC GENERATING EQUIPMENT CONTRIB-
 UTED BY EACH TAXPAYER.
   (5) GRANTS. FOR PURPOSES OF DETERMINING THE AMOUNT OF THE  EXPENDITURE
 INCURRED  IN  PURCHASING  AND INSTALLING WIND ELECTRIC GENERATING EQUIP-
 MENT, THE AMOUNT OF ANY FEDERAL, STATE OR LOCAL GRANT  RECEIVED  BY  THE
 TAXPAYER,  WHICH  WAS  USED FOR THE PURCHASE AND/OR INSTALLATION OF SUCH
 EQUIPMENT AND WHICH WAS NOT INCLUDED IN THE FEDERAL GROSS INCOME OF  THE
 TAXPAYER, SHALL NOT BE INCLUDED IN THE AMOUNT OF SUCH EXPENDITURES.
   (6)  WHEN  CREDIT  ALLOWED.  THE  CREDIT  PROVIDED FOR HEREIN SHALL BE
 ALLOWED WITH RESPECT TO THE TAXABLE YEAR, COMMENCING ON OR AFTER JANUARY
 FIRST, TWO THOUSAND NINETEEN, IN  WHICH  THE  WIND  ELECTRIC  GENERATING
 EQUIPMENT IS PLACED IN SERVICE.
   (7)  CARRYOVER  OF CREDIT. IF THE AMOUNT OF THE CREDIT, AND CARRYOVERS
 OF SUCH CREDIT, ALLOWABLE UNDER THIS SUBSECTION  FOR  ANY  TAXABLE  YEAR
 SHALL EXCEED THE TAXPAYER'S TAX FOR SUCH YEAR, SUCH EXCESS AMOUNT MAY BE
 CARRIED  OVER  TO THE FIVE TAXABLE YEARS NEXT FOLLOWING THE TAXABLE YEAR
 WITH RESPECT TO WHICH THE CREDIT IS ALLOWED AND MAY BE DEDUCTED FROM THE
 TAXPAYER'S TAX FOR SUCH YEAR OR YEARS.
   § 2. This act shall take effect immediately.