Senate Bill S3596C

2023-2024 Legislative Session

Increases the amount of residential solar tax credits

download bill text pdf

Sponsored By

Current Bill Status - In Senate Committee Finance 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

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Bill Amendments

2023-S3596 - Details

See Assembly Version of this Bill:
A6739
Current Committee:
Senate Finance
Law Section:
Tax Law
Laws Affected:
Amd §606, Tax L
Versions Introduced in 2021-2022 Legislative Session:
S8550

2023-S3596 - Summary

Increases the amount of residential solar tax credits.

2023-S3596 - Sponsor Memo

2023-S3596 - Bill Text download pdf

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   3596
 
                        2023-2024 Regular Sessions
 
                             I N  S E N A T E
 
                             February 1, 2023
                                ___________
 
 Introduced  by Sen. HARCKHAM -- 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 residential solar tax  cred-
   its
 
   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:

    Section 1. Subsection (g-1) of section  606  of  the  tax  law,    as
 amended  by  chapter  378  of  the laws of 2005,   paragraphs 1 and 2 as
 amended by chapter 375 of the laws of  2012,  paragraph  3  as  amended,
 paragraph 5 as added, and paragraphs 6, 7 and 8 as renumbered by chapter
 128 of the laws of 2007, is amended to read as follows:
   (g-1) Solar energy system equipment credit. (1) General. An individual
 taxpayer shall be allowed a credit against the tax imposed by this arti-
 cle equal to twenty-five percent of qualified solar energy system equip-
 ment  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 BEFORE APRIL FIRST, TWO
 THOUSAND TWENTY-THREE, AND TEN  THOUSAND  DOLLARS  FOR  QUALIFIED  SOLAR
 ENERGY EQUIPMENT PLACED IN SERVICE ON OR AFTER APRIL FIRST, TWO THOUSAND
 TWENTY-THREE.
   (2) Qualified solar energy system equipment expenditures. (A) The term
 "qualified  solar  energy  system equipment expenditures" means expendi-
 tures 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
 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.
                                                            LBD07582-01-3
              

2023-S3596A - Details

See Assembly Version of this Bill:
A6739
Current Committee:
Senate Finance
Law Section:
Tax Law
Laws Affected:
Amd §606, Tax L
Versions Introduced in 2021-2022 Legislative Session:
S8550

2023-S3596A - Summary

Increases the amount of residential solar tax credits.

2023-S3596A - Sponsor Memo

2023-S3596A - Bill Text download pdf

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                  3596--A
 
                        2023-2024 Regular Sessions
 
                             I N  S E N A T E
 
                             February 1, 2023
                                ___________
 
 Introduced  by Sen. HARCKHAM -- read twice and ordered printed, and when
   printed to be committed to the Committee  on  Budget  and  Revenue  --
   reported  favorably from said committee and committed to the Committee
   on Finance -- committee discharged, bill amended, ordered reprinted as
   amended and recommitted to said committee

 AN ACT to amend the tax law, in relation to residential solar tax  cred-
   its
 
   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. Subsection (g-1) of section 606 of the tax law,  as amended
 by chapter 378 of the laws of 2005,  paragraphs 1 and 2  as  amended  by
 chapter  375 of the laws of 2012, paragraph 3 as amended, paragraph 5 as
 added, and paragraphs 6, 7 and 8 as renumbered by  chapter  128  of  the
 laws of 2007, is amended to read as follows:
   (g-1) Solar energy system equipment credit. (1) General. An individual
 taxpayer shall be allowed a credit against the tax imposed by this arti-
 cle equal to twenty-five percent of qualified solar energy system equip-
 ment  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 BEFORE JANUARY FIRST, TWO
 THOUSAND TWENTY-FOUR, AND TEN THOUSAND DOLLARS FOR QUALIFIED SOLAR ENER-
 GY EQUIPMENT PLACED IN SERVICE ON OR AFTER JANUARY FIRST,  TWO  THOUSAND
 TWENTY-FOUR.
   (2) Qualified solar energy system equipment expenditures. (A) The term
 "qualified  solar  energy  system equipment expenditures" means expendi-
 tures for:
   (i) the purchase of solar energy system equipment which  is  installed
 in  connection  with  residential  property which is (I) located in this
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD07582-04-3
              

2023-S3596B - Details

See Assembly Version of this Bill:
A6739
Current Committee:
Senate Finance
Law Section:
Tax Law
Laws Affected:
Amd §606, Tax L
Versions Introduced in 2021-2022 Legislative Session:
S8550

2023-S3596B - Summary

Increases the amount of residential solar tax credits.

2023-S3596B - Sponsor Memo

2023-S3596B - Bill Text download pdf

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                  3596--B
 
                        2023-2024 Regular Sessions
 
                             I N  S E N A T E
 
                             February 1, 2023
                                ___________
 
 Introduced  by Sen. HARCKHAM -- read twice and ordered printed, and when
   printed to be committed to the Committee  on  Budget  and  Revenue  --
   reported  favorably from said committee and committed to the Committee
   on Finance -- committee discharged, bill amended, ordered reprinted as
   amended and recommitted to said  committee  --  committee  discharged,
   bill  amended,  ordered  reprinted  as amended and recommitted to said
   committee
 
 AN ACT to amend the tax law, in relation to residential solar tax  cred-
   its
 
   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. Subsection (g-1) of section 606 of the tax law,  as amended
 by chapter 378 of the laws of 2005,  paragraphs 1 and 2  as  amended  by
 chapter  375 of the laws of 2012, paragraph 3 as amended, paragraph 5 as
 added, and paragraphs 6, 7 and 8 as renumbered by  chapter  128  of  the
 laws of 2007, is amended to read as follows:
   (g-1) Solar energy system equipment credit. (1) General. An individual
 taxpayer shall be allowed a credit against the tax imposed by this arti-
 cle equal to twenty-five percent of qualified solar energy system equip-
 ment  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 BEFORE JANUARY FIRST, TWO
 THOUSAND TWENTY-FIVE, AND TEN THOUSAND DOLLARS FOR QUALIFIED SOLAR ENER-
 GY EQUIPMENT PLACED IN SERVICE ON OR AFTER JANUARY FIRST,  TWO  THOUSAND
 TWENTY-FIVE.
   (2) Qualified solar energy system equipment expenditures. (A) The term
 "qualified  solar  energy  system equipment expenditures" means expendi-
 tures for:

  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD07582-05-3
              

co-Sponsors

2023-S3596C (ACTIVE) - Details

See Assembly Version of this Bill:
A6739
Current Committee:
Senate Finance
Law Section:
Tax Law
Laws Affected:
Amd §606, Tax L
Versions Introduced in 2021-2022 Legislative Session:
S8550

2023-S3596C (ACTIVE) - Summary

Increases the amount of residential solar tax credits.

2023-S3596C (ACTIVE) - Sponsor Memo

2023-S3596C (ACTIVE) - Bill Text download pdf

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                  3596--C
 
                        2023-2024 Regular Sessions
 
                             I N  S E N A T E
 
                             February 1, 2023
                                ___________
 
 Introduced  by Sen. HARCKHAM -- read twice and ordered printed, and when
   printed to be committed to the Committee  on  Budget  and  Revenue  --
   reported  favorably from said committee and committed to the Committee
   on Finance -- committee discharged, bill amended, ordered reprinted as
   amended and recommitted to said  committee  --  committee  discharged,
   bill  amended,  ordered  reprinted  as amended and recommitted to said
   committee -- committee discharged, bill amended, ordered reprinted  as
   amended and recommitted to said committee
 
 AN  ACT to amend the tax law, in relation to residential solar tax cred-
   its
 
   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. Subsection (g-1) of section 606 of the tax law,  as amended
 by  chapter  378  of the laws of 2005,  paragraphs 1 and 2 as amended by
 chapter 375 of the laws of 2012, paragraph 3 as amended, paragraph 5  as
 added,  and  paragraphs  6,  7 and 8 as renumbered by chapter 128 of the
 laws of 2007, is amended to read as follows:
   (g-1) Solar energy system equipment credit. (1) General. An individual
 taxpayer shall be allowed a credit against the tax imposed by this arti-
 cle equal to twenty-five percent of qualified solar energy system equip-
 ment 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 BEFORE  JANUARY  FIRST,  TWO
 THOUSAND TWENTY-FIVE, AND TEN THOUSAND DOLLARS FOR QUALIFIED SOLAR ENER-
 GY  EQUIPMENT  PLACED IN SERVICE ON OR AFTER JANUARY FIRST, TWO THOUSAND
 TWENTY-FIVE.
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD07582-07-3
 S. 3596--C                          2
 
              

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