Senate Bill S752A

2019-2020 Legislative Session

Relates to increasing the tax credit provided for solar energy system equipment

download bill text pdf

Sponsored By

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

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Bill Amendments

co-Sponsors

2019-S752 - Details

Current Committee:
Senate Investigations And Government Operations
Law Section:
Tax Law
Laws Affected:
Amd §606, Tax L
Versions Introduced in Other Legislative Sessions:
2011-2012: S6242
2013-2014: S1412
2015-2016: S1260
2017-2018: S4714

2019-S752 - Summary

Relates to increasing the tax credit provided for solar energy system equipment from $5,000 to $10,000 and amends the definition of solar energy system equipment.

2019-S752 - Sponsor Memo

2019-S752 - Bill Text download pdf 

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                    752
 
                        2019-2020 Regular Sessions
 
                             I N  S E N A T E
 
                                (PREFILED)
 
                              January 9, 2019
                                ___________
 
 Introduced  by  Sens. MONTGOMERY, ADDABBO, COMRIE, KENNEDY -- read twice
   and ordered printed, and when printed to be committed to the Committee
   on Investigations and Government Operations
 
 AN ACT to amend the tax law, in relation to increasing  the  tax  credit
   provided  for solar energy system equipment from five thousand dollars
   to ten thousand dollars
 
   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section  1.  Paragraph 1 of subsection (g-1) of section 606 of the tax
 law, as amended by chapter 375 of the laws of 2012, is amended  to  read
 as follows:
   (1)  General. An individual taxpayer shall be allowed a credit against
 the tax imposed by this article equal to twenty-five percent  of  quali-
 fied  solar  energy system equipment expenditures, except as provided in
 subparagraph (D) of paragraph two of this subsection. This credit  shall
 not  exceed  three  thousand  seven  hundred fifty dollars for qualified
 solar energy equipment placed in service  before  September  first,  two
 thousand  six,  and  five  thousand  dollars  for qualified solar energy
 equipment placed in service on or after September  first,  two  thousand
 six  AND  PRIOR TO SEPTEMBER FIRST, TWO THOUSAND NINETEEN, AND TEN THOU-
 SAND DOLLARS FOR QUALIFIED SOLAR ENERGY EQUIPMENT PLACED IN  SERVICE  ON
 OR AFTER SEPTEMBER FIRST, TWO THOUSAND NINETEEN.
   § 2. This act shall take effect immediately and shall apply to taxable
 years commencing on and after January 1, 2019.
 
 
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD03437-01-9

co-Sponsors

2019-S752A (ACTIVE) - Details

Current Committee:
Senate Investigations And Government Operations
Law Section:
Tax Law
Laws Affected:
Amd §606, Tax L
Versions Introduced in Other Legislative Sessions:
2011-2012: S6242
2013-2014: S1412
2015-2016: S1260
2017-2018: S4714

2019-S752A (ACTIVE) - Summary

Relates to increasing the tax credit provided for solar energy system equipment from $5,000 to $10,000 and amends the definition of solar energy system equipment.

2019-S752A (ACTIVE) - Sponsor Memo

2019-S752A (ACTIVE) - Bill Text download pdf 

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                  752--A
 
                        2019-2020 Regular Sessions
 
                             I N  S E N A T E
 
                                (PREFILED)
 
                              January 9, 2019
                                ___________
 
 Introduced  by  Sens.  MONTGOMERY,  ADDABBO,  COMRIE, GOUNARDES, KAPLAN,
   KENNEDY, MAY -- read twice and ordered printed, and when printed to be
   committed to the Committee on Investigations and Government Operations
   -- recommitted to the Committee on Investigations and Government Oper-
   ations  in  accordance  with  Senate  Rule  6,  sec.  8  --  committee
   discharged, bill amended, ordered reprinted as amended and recommitted
   to said committee
 
 AN  ACT  to  amend the tax law, in relation to increasing the tax credit
   provided for solar energy system equipment from five thousand  dollars
   to  ten  thousand  dollars  and  the definition of solar energy system
   equipment
 
   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section  1.  Paragraph 1 of subsection (g-1) of section 606 of the tax
 law, as amended by chapter 375 of the laws of 2012, is amended  to  read
 as follows:
   (1)  General. An individual taxpayer shall be allowed a credit against
 the tax imposed by this article equal to twenty-five percent  of  quali-
 fied  solar  energy system equipment expenditures, except as provided in
 subparagraph (D) of paragraph two of this subsection. This credit  shall
 not  exceed  three  thousand  seven  hundred fifty dollars for qualified
 solar energy equipment placed in service  before  September  first,  two
 thousand  six,  and  five  thousand  dollars  for qualified solar energy
 equipment placed in service on or after September  first,  two  thousand
 six  AND  PRIOR  TO  JULY  FIRST,  TWO THOUSAND TWENTY, AND TEN THOUSAND
 DOLLARS FOR QUALIFIED SOLAR ENERGY EQUIPMENT PLACED  IN  SERVICE  ON  OR
 AFTER JULY FIRST, TWO THOUSAND TWENTY.
   § 2. Paragraph 3 of subsection (g-1) of section 606 of the tax law, as
 amended  by  chapter  128  of  the  laws  of 2007, is amended to read as
 follows:

  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets

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