|Assembly Actions - Lowercase
Senate Actions - UPPERCASE
|Feb 05, 2019||referred to finance|
|Jan 09, 2019||referred to investigations and government operations|
senate Bill S752
Current Bill Status - In Senate Committee Finance Committee
- In Committee
- On Floor Calendar
- Passed Senate
- Passed Assembly
- Delivered to Governor
- Signed/Vetoed by Governor
S752 (ACTIVE) - Details
S752 (ACTIVE) - Sponsor Memo
BILL NUMBER: S752 SPONSOR: MONTGOMERY TITLE OF BILL: 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 PURPOSE: To increase the allowable tax credit for the installation of solar ener- gy system equipment. SUMMARY OF PROVISIONS: Amends paragraph 1 of subsection (g-1) of section 606 of the tax law to allow for a tax credit up to $10,000 for qualified solar energy equip- ment placed in service on or after September 1, 2019.
S752 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 752 2019-2020 Regular Sessions I N S E N A T E (PREFILED) January 9, 2019 ___________ Introduced by Sens. MONTGOMERY, ADDABBO, COMRIE, KENNEDY -- read twice and ordered printed, and when printed to be committed to the Committee on Investigations and Government Operations 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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