S T A T E O F N E W Y O R K
________________________________________________________________________
4353
2021-2022 Regular Sessions
I N A S S E M B L Y
February 1, 2021
___________
Introduced by M. of A. WALKER, SIMON, COLTON -- 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 TWENTY-ONE, AND TEN THOU-
SAND DOLLARS FOR QUALIFIED SOLAR ENERGY EQUIPMENT PLACED IN SERVICE ON
OR AFTER SEPTEMBER FIRST, TWO THOUSAND TWENTY-ONE.
§ 2. This act shall take effect immediately and shall apply to taxable
years commencing on and after January 1, 2021.
EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD07758-01-1