S T A T E   O F   N E W   Y O R K
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                                  7203

                       2011-2012 Regular Sessions

                          I N  A S S E M B L Y

                             April 15, 2011
                               ___________

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

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
PRORATED  ACCORDING  TO THE PERCENTAGE OF THE TOTAL EXPENDITURE FOR SUCH
SUN TUNNEL CONTRIBUTED BY EACH TAXPAYER.

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD02031-01-1
              

A. 7203                             2

  (4) WHEN CREDIT ALLOWED. THE  CREDIT  PROVIDED  FOR  HEREIN  SHALL  BE
ALLOWED  WITH  RESPECT  TO  THE TAXABLE YEAR COMMENCING IN WHICH THE SUN
TUNNEL IS INSTALLED.
  (5)  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 on January 1, 2011; provided, however,
if this act shall become a law after such  date  it  shall  take  effect
immediately and shall be deemed to have been in full force and effect on
and after January 1, 2011.