S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   6983
 
                        2023-2024 Regular Sessions
 
                           I N  A S S E M B L Y
 
                                May 9, 2023
                                ___________
 
 Introduced  by M. of A. BARRETT -- read once and referred to the Commit-
   tee on Ways and Means
 
 AN ACT to amend the tax law, in relation to personal income  tax  credit
   for residential solar energy systems
 
   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:

   Section 1. Subparagraph (A) of paragraph  2  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:
   (A) The term "qualified solar energy  system  equipment  expenditures"
 means expenditures for:
   (i)  the  purchase of solar energy system equipment which is installed
 in connection with residential property which is  (I)  located  in  this
 state and (II) which is used by the taxpayer as [his or her principal] A
 residence  at  the  time  the solar energy system equipment is placed in
 service;
   (ii) the lease of solar energy system equipment under a written agree-
 ment that spans at least ten years  where  such  equipment  owned  by  a
 person  other than the taxpayer is installed in connection with residen-
 tial property which is (I) located in this state and (II) which is  used
 by  the  taxpayer  as [his or her principal] A residence at the time the
 solar energy system equipment is placed in service; or
   (iii) the purchase of power under a written agreement  that  spans  at
 least  ten  years  whereunder  the power purchased is generated by solar
 energy system equipment owned by a person other than the taxpayer  which
 is  installed  in  connection  with  residential  property  which is (I)
 located in this state and (II) which is used by the taxpayer as [his  or
 her principal] A residence at the time the solar energy system equipment
 is placed in service.
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD07748-01-3
 A. 6983                             2
 
              

   § 2. Paragraph 4 of subsection (g-1) of section 606 of the tax law, as
 amended  by  chapter  378  of  the  laws  of 2005, is amended to read as
 follows:
   (4)  Multiple  taxpayers.  Where  solar  energy  system  equipment  is
 purchased and installed in a [principal] residence 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 solar energy system equipment contributed  by
 each taxpayer.
   § 3. Paragraph 5 of subsection (g-1) of section 606 of the tax law, as
 added by chapter 128 of the laws of 2007, is amended to read as follows:
   (5)  Proportionate  share.  Where  solar  energy  system  equipment is
 purchased and installed by a condominium  management  association  or  a
 cooperative  housing  corporation,  a  taxpayer  who  is a member of the
 condominium management association or who is a tenant-stockholder in the
 cooperative housing corporation may for the purpose of  this  subsection
 claim  a proportionate share of the total expense as the expenditure for
 the purposes of the credit attributable to his [principal]
  OR HER residence.
   § 4. Paragraphs 7 and 8 of subsection (g-1) of section 606 of the  tax
 law,  as  renumbered  by chapter 128 of the laws of 2007, are renumbered
 paragraphs 8 and 9 and a new paragraph 7 is added to read as follows:
   (7) LIMITATION; ONE RESIDENCE. AN  ELIGIBLE  TAXPAYER  SHALL  ONLY  BE
 ALLOWED TO APPLY THE CREDIT PROVIDED FOR IN THIS SUBSECTION TO ONE RESI-
 DENCE OF SUCH TAXPAYER.
   §  5. This act shall take effect on the first of January next succeed-
 ing the date on which it shall have become a  law  and  shall  apply  to
 taxable years beginning on and after such date.