Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Jan 06, 2016 |
referred to ways and means |
Jan 08, 2015 |
referred to ways and means |
Assembly Bill A979
2015-2016 Legislative Session
Sponsored By
GUNTHER
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
Actions
co-Sponsors
Felix Ortiz
Peter Abbate
Frank Skartados
Phil Steck
2015-A979 (ACTIVE) - Details
2015-A979 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 979 2015-2016 Regular Sessions I N A S S E M B L Y January 8, 2015 ___________ Introduced by M. of A. GUNTHER, ORTIZ, ABBATE, SKARTADOS, STECK, COOK, ABINANTI -- 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 DESIGNS AND PLANS DIRECTLY RELATED TO THE CONSTRUCTION OR INSTALLATION OF THE WIND ELECTRIC GENERATING EQUIPMENT. EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD01600-01-5
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