senate Bill S1020

2021-2022 Legislative Session

Authorizes a personal income tax credit for residential solar energy systems

download bill text pdf

Sponsored By

Current Bill Status - In Senate Committee Finance 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 (2)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
May 04, 2021 reported and committed to finance
Jan 06, 2021 referred to budget and revenue

Votes

view votes

May 4, 2021 - Budget and Revenue committee Vote

S1020
6
0
committee
6
Aye
0
Nay
1
Aye with Reservations
0
Absent
0
Excused
0
Abstained
show Budget and Revenue committee vote details

Budget and Revenue Committee Vote: May 4, 2021

aye wr (1)

S1020 (ACTIVE) - Details

See Assembly Version of this Bill:
A6614
Current Committee:
Senate Finance
Law Section:
Tax Law
Laws Affected:
Amd §606, Tax L
Versions Introduced in 2019-2020 Legislative Session:
S7071, A9050

S1020 (ACTIVE) - Summary

Authorizes a personal income tax credit for solar energy systems purchased and installed at a residence.

S1020 (ACTIVE) - Sponsor Memo

S1020 (ACTIVE) - Bill Text download pdf

 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   1020
 
                        2021-2022 Regular Sessions
 
                             I N  S E N A T E
 
                                (PREFILED)
 
                              January 6, 2021
                                ___________
 
 Introduced  by Sen. KAMINSKY -- read twice and ordered printed, and when
   printed to be committed to the Committee on Budget and Revenue
 
 AN ACT to amend the tax law, in relation to personal income  tax  credit
   for residential solar energy systems

   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. Subparagraph (A) of paragraph  2  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:
   (A) The term "qualified solar energy  system  equipment  expenditures"
 means expenditures for:
   (i)  the  purchase of solar energy system equipment which is installed
 in connection with residential property which is  (I)  located  in  this
 state and (II) which is used by the taxpayer as [his or her principal] A
 residence  at  the  time  the solar energy system equipment is placed in
 service;
   (ii) the lease of solar energy system equipment under a written agree-
 ment that spans at least ten years  where  such  equipment  owned  by  a
 person  other than the taxpayer is installed in connection with residen-
 tial property which is (I) located in this state and (II) which is  used
 by  the  taxpayer  as [his or her principal] A residence at the time the
 solar energy system equipment is placed in service; or
   (iii) the purchase of power under a written agreement  that  spans  at
 least  ten  years  whereunder  the power purchased is generated by solar
 energy system equipment owned by a person other than the taxpayer  which
 is  installed  in  connection  with  residential  property  which is (I)
 located in this state and (II) which is used by the taxpayer as [his  or
 her principal] A residence at the time the solar energy system equipment
 is placed in service.
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.

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