Assembly Bill A5290

2019-2020 Legislative Session

Provides for separate personal income tax credits for solar electric, solar thermal and wind energy systems installed upon the residence of a taxpayer

download bill text pdf

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Archive: Last Bill Status - Stricken


  • 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

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2019-A5290 (ACTIVE) - Details

Law Section:
Public Service Law
Laws Affected:
Add §73, Pub Serv L; amd §606, Tax L
Versions Introduced in Other Legislative Sessions:
2013-2014: A8667
2015-2016: A6855
2017-2018: A4221

2019-A5290 (ACTIVE) - Summary

Provides for separate personal income tax credits for solar electric, solar thermal and wind energy systems installed upon any residence of a taxpayer.

2019-A5290 (ACTIVE) - Bill Text download pdf

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   5290
 
                        2019-2020 Regular Sessions
 
                           I N  A S S E M B L Y
 
                             February 8, 2019
                                ___________
 
 Introduced by M. of A. CRESPO -- read once and referred to the Committee
   on Ways and Means
 
 AN  ACT  to amend the public service law and the tax law, in relation to
   the personal income tax credit for solar and wind energy systems
 
   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section  1.  The public service law is amended by adding a new section
 73 to read as follows:
   § 73. COORDINATION WITH CERTAIN PROVISIONS OF THE TAX LAW. THE DEPART-
 MENT MAY REQUEST FROM THE DEPARTMENT OF TAXATION AND FINANCE  A  SUMMARY
 OF  TAX CREDITS GRANTED IN A CALENDAR YEAR PURSUANT TO THE PROVISIONS OF
 SUBSECTIONS (G-1) AND (G-3) OF SECTION SIX HUNDRED SIX OF THE  TAX  LAW.
 SUCH SUMMARY SHALL INCLUDE THE TOTAL NUMBER OF RESIDENCES THAT HAVE BEEN
 GRANTED  A  SOLAR ENERGY SYSTEM EQUIPMENT CREDIT OR A WIND ENERGY SYSTEM
 EQUIPMENT CREDIT, A DESCRIPTION OF THE IMPROVEMENTS TO WHICH THE  CREDIT
 RELATES,  AND  AN INDICATION OF THE COMBINED RATED CAPACITY OF EACH SUCH
 IMPROVEMENT IN TERMS OF KILOWATTS.
   § 2. 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 (A) three thousand seven hundred fifty dollars for qualified
 solar energy equipment placed in service  before  September  first,  two
 thousand  six,  and (B) five thousand dollars for qualified solar energy
 equipment placed in service on or after September  first,  two  thousand
 six,  BUT  PRIOR TO JANUARY FIRST, TWO THOUSAND TWENTY-ONE, AND (C) FIVE
 THOUSAND DOLLARS FOR QUALIFIED SOLAR ENERGY EQUIPMENT THAT  IS  A  SOLAR
 THERMAL  ENERGY  SYSTEM PLACED IN SERVICE ON OR AFTER JANUARY FIRST, TWO
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
              

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