Assembly Bill A4276

2009-2010 Legislative Session

Establishes a personal income tax credit for voltage regulation technology equipment

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Archive: Last Bill Status - In Assembly 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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2009-A4276 (ACTIVE) - Details

See Senate Version of this Bill:
S4294
Current Committee:
Assembly Ways And Means
Law Section:
Tax Law
Laws Affected:
Amd ยง606, Tax L
Versions Introduced in Other Legislative Sessions:
2011-2012: A5610, S1055
2013-2014: S1638
2015-2016: S560
2017-2018: S2825
2019-2020: S3594
2021-2022: S3136
2023-2024: S4852

2009-A4276 (ACTIVE) - Summary

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

2009-A4276 (ACTIVE) - Bill Text download pdf

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

                                  4276

                       2009-2010 Regular Sessions

                          I N  A S S E M B L Y

                            February 2, 2009
                               ___________

Introduced by M. of A. COLTON -- read once and referred to the Committee
  on Ways and Means

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

              

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