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

                                  1626

                       2013-2014 Regular Sessions

                          I N  A S S E M B L Y

                               (PREFILED)

                             January 9, 2013
                               ___________

Introduced  by  M. of A. GUNTHER, ORTIZ, ABBATE -- Multi-Sponsored by --
  M. of A. SWEENEY -- read once and referred to the  Committee  on  Ways
  and Means

AN  ACT  to  amend  the  tax  law,  in relation to establishing a credit
  against tax for wind electric generating equipment installed  on  farm
  property

  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)  WIND  ELECTRIC GENERATING EQUIPMENT CREDIT; FARM PROPERTY.  (1)
GENERAL. A TAXPAYER SHALL BE ALLOWED A CREDIT AGAINST THE TAX IMPOSED BY
THIS ARTICLE EQUAL TO TWENTY-FIVE PERCENT  OF  QUALIFIED  WIND  ELECTRIC
GENERATING  EQUIPMENT EXPENDITURES.   THIS CREDIT SHALL NOT EXCEED SEVEN
THOUSAND FIVE HUNDRED DOLLARS.
  (2) QUALIFIED WIND ELECTRIC GENERATING EQUIPMENT  EXPENDITURES.    (A)
THE  TERM  "QUALIFIED  WIND  ELECTRIC GENERATING EQUIPMENT EXPENDITURES"
MEANS EXPENDITURES, LIMITED TO THE EXPENDITURE CAP SET FORTH IN SUBPARA-
GRAPH (B) OF THIS PARAGRAPH, FOR THE PURCHASE OF WIND ELECTRIC  GENERAT-
ING  EQUIPMENT  WHICH IS INSTALLED ON FARM PROPERTY WHICH IS (I) LOCATED
IN THIS STATE AND (II) USED BY THE TAXPAYER  AS  HIS  OR  HER  PRINCIPAL
PREMISES AT THE TIME THE WIND ELECTRIC GENERATING EQUIPMENT IS PLACED IN
SERVICE.
  (B)  FOR  PURPOSES  OF  SUBPARAGRAPH  (A)  OF THIS PARAGRAPH, THE TERM
"EXPENDITURE CAP" SHALL MEAN THE PRODUCT OF (I) SIX DOLLARS AND (II) THE
NUMBER OF WATTS INCLUDED IN THE RATED  CAPACITY  OF  THE  WIND  ELECTRIC
GENERATING EQUIPMENT.
  (C) SUCH QUALIFIED EXPENDITURES SHALL INCLUDE EXPENDITURES FOR MATERI-
ALS, LABOR COSTS PROPERLY ALLOCABLE TO ON-SITE PREPARATION, ASSEMBLY AND
ORIGINAL  INSTALLATION,  ARCHITECTURAL  AND  ENGINEERING  SERVICES,  AND

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

                                                           LBD02392-01-3

A. 1626                             2

DESIGNS AND PLANS DIRECTLY RELATED TO THE CONSTRUCTION  OR  INSTALLATION
OF THE WIND ELECTRIC GENERATING EQUIPMENT.
  (D)  SUCH  QUALIFIED  EXPENDITURES SHALL NOT INCLUDE INTEREST OR OTHER
FINANCE CHARGES.
  (3) WIND ELECTRIC GENERATING EQUIPMENT. THE TERM "WIND ELECTRIC GENER-
ATING EQUIPMENT" SHALL MEAN EQUIPMENT WHICH, WHEN INSTALLED AT A TAXPAY-
ER'S PREMISES, USES WIND ENERGY FOR THE PURPOSE OF GENERATING  ELECTRIC-
ITY  FOR  USE  AT  SUCH  PREMISES  AND  WHICH  HAS  A RATED CAPACITY FOR
GENERATING ELECTRICITY WHICH DOES NOT EXCEED ONE HUNDRED KILOWATTS.
  (4) MULTIPLE TAXPAYERS. WHERE WIND ELECTRIC  GENERATING  EQUIPMENT  IS
PURCHASED  AND  INSTALLED  IN A PRINCIPAL PREMISES 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 THE
TOTAL EXPENDITURE FOR SUCH WIND ELECTRIC GENERATING  EQUIPMENT  CONTRIB-
UTED BY EACH TAXPAYER.
  (5)  GRANTS. FOR PURPOSES OF DETERMINING THE AMOUNT OF THE EXPENDITURE
INCURRED IN PURCHASING AND INSTALLING WIND  ELECTRIC  GENERATING  EQUIP-
MENT,  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.
  (6) WHEN CREDIT ALLOWED. THE  CREDIT  PROVIDED  FOR  HEREIN  SHALL  BE
ALLOWED WITH RESPECT TO THE TAXABLE YEAR, COMMENCING ON OR AFTER JANUARY
FIRST,  TWO  THOUSAND  FOURTEEN,  IN  WHICH THE WIND ELECTRIC GENERATING
EQUIPMENT IS PLACED IN SERVICE.
  (7) 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.