assembly Bill A6420

2019-2020 Legislative Session

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

download bill text pdf

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Current Bill Status - In Assembly 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 (1)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Mar 07, 2019 referred to ways and means

Co-Sponsors

A6420 (ACTIVE) - Details

See Senate Version of this Bill:
S752
Law Section:
Tax Law
Laws Affected:
Amd §606, Tax L
Versions Introduced in Other Legislative Sessions:
2011-2012: A9090, S6242
2013-2014: A1782, S1412
2015-2016: A9132, S1260
2017-2018: A5646, S4714

A6420 (ACTIVE) - Summary

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

A6420 (ACTIVE) - Bill Text download pdf


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

                                  6420

                       2019-2020 Regular Sessions

                          I N  A S S E M B L Y

                              March 7, 2019
                               ___________

Introduced by M. of A. WALKER -- read once and referred to the Committee
  on Ways and Means

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 NINETEEN, AND  TEN  THOU-
SAND  DOLLARS  FOR QUALIFIED SOLAR ENERGY EQUIPMENT PLACED IN SERVICE ON
OR AFTER SEPTEMBER FIRST, TWO THOUSAND NINETEEN.
  § 2. This act shall take effect immediately and shall apply to taxable
years commencing on and after January 1, 2019.



 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD03437-01-9

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