NY State Senate Bill 2009-S4294

Archive: Last Bill Status - In Senate Committee Investigations And Government Operations 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

Please enter your contact information

First Name

Last Name

Email Address

A valid email address is required.

Home address is used to determine the senate district in which you reside. Your support or opposition to this bill is then shared immediately with the senator who represents you.

Optional services from the NY State Senate:

Create an account. An account allows you to officially support or oppose key legislation, sign petitions with a single click, and follow issues, committees, and bills that matter to you. When you create an account, you agree to this platform's terms of participation.

Include a custom message for your Senator? (Optional)

Enter a message to your senator. Many New Yorkers use this to share the reasoning behind their support or opposition to the bill. Others might share a personal anecdote about how the bill would affect them or people they care about.

Actions

View Actions

	Assembly Actions - Lowercase Senate Actions - UPPERCASE
Jan 06, 2010	referred to investigations and government operations
Apr 21, 2009	referred to investigations and government operations

co-Sponsors

2009-S4294 (ACTIVE) - Details

See Assembly Version of this Bill:: A4276
Current Committee:: Senate Investigations And Government Operations
Law Section:: Tax Law
Laws Affected:: Amd §606, Tax L
Versions Introduced in Other Legislative Sessions:: 2011-2012: S1055, A5610
2013-2014: S1638
2015-2016: S560
2017-2018: S2825
2019-2020: S3594
2021-2022: S3136
2023-2024: S4852

2009-S4294 (ACTIVE) - Summary

Establishes a personal income tax credit for voltage regulation technology equipment.

2009-S4294 (ACTIVE) - Sponsor Memo

                                 BILL NUMBER:  S4294

 TITLE OF BILL :
An act to amend the tax law, in relation to establishing a personal
income tax credit for voltage regulation technology equipment

 PURPOSE :
To encourage and establish incentives for the purchase and use of
voltage regulation technologies.

 SUMMARY OF PROVISIONS :
Section 606 of the tax law is amended by adding a new subsection (g3)
voltage regulation technology equipment credit.  This subsection
provides a tax credit equal to twenty-five percent of qualified
voltage regulation technology expenditures, not to exceed five
thousand dollars. Qualified voltage regulation technology equipment
expenditures shall include expenditures for materials, labor costs
properly allocable to on-site preparation, assembly and installation,
engineering services, designs and plans directly related to the
construction. The credit will be applied to the taxable year in which
such equipment is placed in service.

 JUSTIFICATION :
The State of New York provides incentives to encourage the use of
wind, solar and other renewable energies. Similar incentives for
voltage regulation technologies could improve efficiency of the

electrical grid and save consumers money. Currently it is theorized
that up to (70%) of homes and businesses receive more voltage than
they need, which results in wasted energy. This wastage is due to
"line loss" through the transmission system, because utilities have to
insure that the last customer on the line still receives the necessary
amount of energy.

According to the U.S. Department of Energy, approximately (67%) of the
energy in the form of electricity is wasted between the point where it
is generated and enters the electrical grid, and the point where a
consumer uses the electricity.

However, recent technological advances have made it possible to
dynamically manage voltage at the point of consumption, substantially
lowering energy consumption and improving power quality.

The amortization period to consumers for a residential owner could be
3-5 years without the tax credit. With the credit it could be 2-3
years, depending upon whether one lived in higher or lower energy cost
section of New York.

 LEGISLATIVE HISTORY :
None.

 FISCAL IMPLICATIONS :
The cost for the installation for residential homes is anticipated to
be around $800. The cost for commercial business are anticipated to
range from approximately $800 to $15,000, depending upon the size of
the business. It is anticipated that residential owners will recoup
the cost of the equipment within 3-5 years without tax credit. With
such a credit, the return on investment for residence and business
customers is expected to be shorter. Higher energy cost areas in New
York will experience quicker returns on investments.

 EFFECTIVE DATE :
This act shall take effect immediately.

2009-S4294 (ACTIVE) - Bill Text download pdf

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

                                  4294

                       2009-2010 Regular Sessions

                            I N  S E N A T E

                             April 21, 2009
                               ___________

Introduced  by  Sen.  PARKER -- read twice and ordered printed, and when
  printed to be committed to the Committee on Investigations and Govern-
  ment Operations

AN ACT to amend the tax law, in  relation  to  establishing  a  personal
  income tax credit for voltage regulation technology equipment

  THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section 1. Section 606 of the tax law  is  amended  by  adding  a  new
subsection (g-3) to read as follows:
  (G-3)  VOLTAGE  REGULATION TECHNOLOGY EQUIPMENT CREDIT. (1) GENERAL. A
TAXPAYER SHALL BE ALLOWED A CREDIT AGAINST THE TAX IMPOSED BY THIS ARTI-
CLE EQUAL TO TWENTY-FIVE PERCENT OF QUALIFIED VOLTAGE  REGULATION  TECH-
NOLOGY  EXPENDITURES. THIS CREDIT SHALL NOT EXCEED FIVE THOUSAND DOLLARS
FOR QUALIFIED VOLTAGE REGULATION TECHNOLOGY EQUIPMENT.
  (2) QUALIFIED VOLTAGE REGULATION  TECHNOLOGY  EQUIPMENT  EXPENDITURES.
(A)  VOLTAGE  REGULATION TECHNOLOGY EQUIPMENT EXPENDITURES ARE THE COSTS
ASSOCIATED WITH THE PURCHASE OF ON-SITE VOLTAGE REGULATION  TECHNOLOGIES
WHICH REDUCE ENERGY CONSUMPTION, IMPROVE GRID EFFICIENCY, RAISE OR LOWER
VOLTAGE DYNAMICALLY AND ARE NINETY-NINE PERCENT OR MORE EFFICIENT ACROSS
A MINIMUM OF NINETY PERCENT OF THE LOAD CURVE.
  (B)  QUALIFIED  VOLTAGE  REGULATION  TECHNOLOGY EQUIPMENT EXPENDITURES
SHALL INCLUDE EXPENDITURES FOR MATERIALS, LABOR COSTS PROPERLY ALLOCABLE
TO ON-SITE PREPARATION, ASSEMBLY AND INSTALLATION, ENGINEERING SERVICES,
DESIGNS AND PLANS DIRECTLY RELATED TO THE CONSTRUCTION  OR  INSTALLATION
AND UTILITY COMPLIANCE COSTS.
  (C)  SUCH  QUALIFIED  EXPENDITURES SHALL NOT INCLUDE INTEREST OR OTHER
FINANCE CHARGES.
  (3) MULTIPLE TAXPAYERS. WHERE VOLTAGE REGULATION TECHNOLOGY  EQUIPMENT
IS  PURCHASED  AND  INSTALLED  IN A PRINCIPAL RESIDENCE SHARED BY TWO OR
MORE TAXPAYERS, THE AMOUNT OF THE CREDIT ALLOWABLE UNDER THIS SUBSECTION
FOR EACH SUCH TAXPAYER SHALL BE PRORATED ACCORDING TO THE PERCENTAGE  OF

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD06375-01-9

S. 4294                             2

THE  TOTAL  EXPENDITURE FOR SUCH VOLTAGE REGULATION TECHNOLOGY EQUIPMENT
CONTRIBUTED BY EACH TAXPAYER.
  (4)  GRANTS. FOR PURPOSES OF DETERMINING THE AMOUNT OF THE EXPENDITURE
INCURRED IN PURCHASING  AND  INSTALLING  VOLTAGE  REGULATION  TECHNOLOGY
EQUIPMENT,  THE  AMOUNT OF ANY FEDERAL, STATE OR LOCAL GRANT RECEIVED BY
THE TAXPAYER, WHICH WAS USED FOR THE  PURCHASE  AND/OR  INSTALLATION  OF
SUCH EQUIPMENT AND WHICH WAS NOT INCLUDED IN THE FEDERAL GROSS INCOME OF
THE TAXPAYER, SHALL NOT BE INCLUDED IN THE AMOUNT OF SUCH EXPENDITURES.
  (5)  WHEN CREDIT ALLOWED. THE CREDIT FOR VOLTAGE REGULATION TECHNOLOGY
EQUIPMENT PROVIDED FOR IN THIS SUBSECTION SHALL BE ALLOWED WITH  RESPECT
TO THE TAXABLE YEAR IN WHICH SUCH EQUIPMENT IS PLACED IN SERVICE.
  (6)  CARRYOVER  OF CREDIT. IF THE AMOUNT OF THE CREDIT, AND CARRYOVERS
OF SUCH CREDIT, ALLOWABLE UNDER THIS SUBSECTION  FOR  ANY  TAXABLE  YEAR
SHALL EXCEED THE TAXPAYER'S TAX FOR SUCH YEAR, SUCH EXCESS AMOUNT MAY BE
CARRIED  OVER  TO THE FIVE TAXABLE YEARS NEXT FOLLOWING THE TAXABLE YEAR
WITH RESPECT TO WHICH THE CREDIT IS ALLOWED AND MAY BE DEDUCTED FROM THE
TAXPAYER'S TAX FOR SUCH YEAR OR YEARS.
  S 2. This act shall take effect immediately.

Comments

Open Legislation is a forum for New York State legislation. All comments are subject to review and community moderation is encouraged.

Comments deemed off-topic, commercial, campaign-related, self-promotional; or that contain profanity, hate or toxic speech; or that link to sites outside of the nysenate.gov domain are not permitted, and will not be published. Attempts to intimidate and silence contributors or deliberately deceive the public, including excessive or extraneous posting/posts, or coordinated activity, are prohibited and may result in the temporary or permanent banning of the user. Comment moderation is generally performed Monday through Friday. By contributing or voting you agree to the Terms of Participation and verify you are over 13.

Create an account. An account allows you to sign petitions with a single click, officially support or oppose key legislation, and follow issues, committees, and bills that matter to you. When you create an account, you agree to this platform's terms of participation.

Senate Bill S4294

Sponsored By

Archive: Last Bill Status - In Senate Committee Investigations And Government Operations Committee

co-Sponsors

2009-S4294 (ACTIVE) - Details

2009-S4294 (ACTIVE) - Summary

2009-S4294 (ACTIVE) - Sponsor Memo

2009-S4294 (ACTIVE) - Bill Text download pdf

Comments

Senate Bill S4294

Share this bill

Sponsored By

Kevin S. Parker

Archive: Last Bill Status - In Senate Committee Investigations And Government Operations Committee

co-Sponsors

John L. Sampson

2009-S4294 (ACTIVE) - Details

2009-S4294 (ACTIVE) - Summary

2009-S4294 (ACTIVE) - Sponsor Memo

2009-S4294 (ACTIVE) - Bill Text download pdf

Comments