Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Jan 08, 2020 |
referred to ways and means |
Feb 14, 2019 |
referred to ways and means |
Assembly Bill A5664
2019-2020 Legislative Session
Sponsored By
ENGLEBRIGHT
Archive: Last Bill Status - In Assembly 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
2019-A5664 (ACTIVE) - Details
2019-A5664 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 5664 2019-2020 Regular Sessions I N A S S E M B L Y February 14, 2019 ___________ Introduced by M. of A. ENGLEBRIGHT -- read once and referred to the Committee on Ways and Means AN ACT to amend the tax law, in relation to establishing a personal income tax credit for the purchase and installation of a new residen- tial energy storage system 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) CREDIT FOR RESIDENTIAL ENERGY STORAGE SYSTEMS. (1) GENERAL. A TAXPAYER SHALL BE ALLOWED A CREDIT AGAINST THE TAX IMPOSED BY THIS ARTI- CLE FOR THE PURCHASE AND INSTALLATION OF A NEW QUALIFIED RESIDENTIAL ENERGY STORAGE SYSTEM BY THE TAXPAYER IN HIS OR HER PRIMARY OR SECONDARY RESIDENCE LOCATED IN THIS STATE. THE AMOUNT OF THE CREDIT SHALL BE TWEN- TY-FIVE PERCENT OF THE EXPENDITURE INCURRED IN PURCHASING AND INSTALLING A NEW QUALIFIED RESIDENTIAL STORAGE SYSTEM, BUT NOT TO EXCEED THE MAXI- MUM CREDIT OF SEVEN THOUSAND DOLLARS. (2) ENERGY STORAGE DEVICE. AN ENERGY STORAGE DEVICE IS A COMMERCIALLY AVAILABLE ENERGY STORAGE DEVICE OF A NON LEAD ACID TYPE, CAPABLE OF COLLECTING ENERGY, STORING SUCH ENERGY FOR A PERIOD OF TIME, IS SUITABLE FOR INDOOR OR OUTDOOR USE, AND IS MANUFACTURED BY A MANUFACTURER OR SOLD BY A DISTRIBUTOR WHICH HAS A BATTERY RETURN OR RECYCLING PROGRAM. (3) NEW QUALIFIED RESIDENTIAL ENERGY STORAGE SYSTEM. A NEW QUALIFIED RESIDENTIAL ENERGY STORAGE SYSTEM IS A SYSTEM WHOSE ORIGINAL USE BEGAN WITH THE TAXPAYER WHICH IS COMPOSED OF AN ENERGY STORAGE DEVICE OR ENER- GY STORAGE DEVICES THAT ARE CONNECTED TO ANY NEW OR EXISTING SOLAR ELEC- TRIC GENERATING EQUIPMENT, AS DEFINED IN PARAGRAPH (D) OF SUBDIVISION ONE OF SECTION SIXTY-SIX-J OF THE PUBLIC SERVICE LAW, FUEL CELL ELECTRIC GENERATING EQUIPMENT, AS DEFINED IN PARAGRAPH (G) OF SUBDIVISION ONE OF SECTION SIXTY-SIX-J OF THE PUBLIC SERVICE LAW, OR WIND ELECTRIC GENERAT- ING EQUIPMENT, AS DEFINED IN PARAGRAPH (F) OF SUBDIVISION ONE OF SECTION EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted.
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