Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Jan 04, 2012 |
referred to investigations and government operations |
Apr 13, 2011 |
referred to investigations and government operations |
Senate Bill S4624
2011-2012 Legislative Session
Sponsored By
(R) Senate District
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
Actions
2011-S4624 (ACTIVE) - Details
- See Assembly Version of this Bill:
- A7203
- Current Committee:
- Senate Investigations And Government Operations
- Law Section:
- Tax Law
- Laws Affected:
- Amd ยง606, Tax L
- Versions Introduced in 2013-2014 Legislative Session:
-
S2358, A2608
2011-S4624 (ACTIVE) - Sponsor Memo
BILL NUMBER:S4624 TITLE OF BILL: An act to amend the tax law, in relation to establishing a credit for the purchase and installation of a sun tunnel in a principal residence PURPOSE: Establishes a tax credit for the purchase and installation of a sun tunnel. SUMMARY OF PROVISIONS: Amends Section 606 of the tax law by adding a new subsection (g-3) to provide for a tax credit for the purchase and installation of a qualified sun tunnel. JUSTIFICATION: Sun tunnels are an environmentally friendly lighting solution. Installation and use of these devices significantly reduce energy costs while experiencing the benefits of natural light. This legislation establishes a tax credit for the purchase and installation of a sun tunnel in a principal residence. Such sun tunnel must have a U-factor equal to or below .30 and solar heat gain coefficient of 0.03. The amount of the credit shall be 30% of the qualified expenditures incurred in purchasing and installing any
2011-S4624 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 4624 2011-2012 Regular Sessions I N S E N A T E April 13, 2011 ___________ Introduced by Sen. LAVALLE -- 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 credit for the purchase and installation of a sun tunnel in a principal residence 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) CREDIT FOR SUN TUNNEL PURCHASE AND INSTALLATION. (1) GENERAL. A TAXPAYER SHALL BE ALLOWED A CREDIT FOR TAXABLE YEARS BEGINNING ON OR AFTER JANUARY FIRST, TWO THOUSAND ELEVEN AGAINST THE TAX IMPOSED BY THIS ARTICLE FOR THE PURCHASE AND INSTALLATION OF A SUN TUNNEL EQUAL TO OR BELOW A U-FACTOR OF 0.30 AND SOLAR HEAT GAIN COEFFICIENT (SHGC) OF 0.30 BY A TAXPAYER IN HIS OR HER PRINCIPAL RESIDENCE, IF SUCH RESIDENCE IS LOCATED WITHIN THE STATE. THE AMOUNT OF THE CREDIT SHALL BE THIRTY PERCENT OF THE EXPENDITURE INCURRED IN PURCHASING AND INSTALLING ANY SUCH SUN TUNNEL, BUT NOT TO EXCEED THE MAXIMUM CREDIT OF ONE HUNDRED FIFTY DOLLARS. (2) QUALIFIED SUN TUNNEL EXPENDITURES. (A) THE TERM "QUALIFIED SUN TUNNEL EXPENDITURES" MEANS EXPENDITURES FOR THE PURCHASE OF A SUN TUNNEL, MATERIALS AND LABOR COSTS PROPERLY ALLOCABLE TO ON-SITE PREPARATION, ASSEMBLY AND ORIGINAL INSTALLATION, ARCHITECTURAL AND ENGINEERING SERVICES, AND DESIGNS AND PLANS DIRECTLY RELATED TO THE INSTALLATION OF A SUN TUNNEL. (B) SUCH QUALIFIED EXPENDITURES SHALL NOT INCLUDE INTEREST OR OTHER FINANCE CHARGES. (3) MULTIPLE TAXPAYERS. WHERE A SUN TUNNEL IS PURCHASED AND INSTALLED IN A PRINCIPAL RESIDENCE SHARED BY TWO OR MORE TAXPAYERS, THE AMOUNT OF THE CREDIT ALLOWED UNDER THIS SUBSECTION FOR EACH SUCH TAXPAYER SHALL BE EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD02031-01-1
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