Expands the solar energy system equipment tax credit to cover solar energy system equipment installed in a community solar array; defines "community solar array" to mean a location other than a person's principal residence where solar energy system equipment is owned and installed for use in such person's principal residence.
NEW YORK STATE ASSEMBLY MEMORANDUM IN SUPPORT OF LEGISLATION submitted in accordance with Assembly Rule III, Sec 1(f)
BILL NUMBER: A9051
SPONSOR: Kelles TITLE OF BILL:
An act to amend the tax law, in relation to expanding the solar energy
system equipment tax credit to cover solar energy system equipment
installed in a community solar array
SUMMARY OF PROVISIONS::
Sec. 1- amends paragraphs 3 and 4 of subsection (g-1) of section 606 of
2 the tax law, allowing for a solar energy system equipment tax credit
to be applied to a "community solar array", meaning a location other
than a person's principal residence where solar energy system equipment
is owned and installed for use in such person's principal residence.
Sec. 2 - provides the effective date.
JUSTIFICATION::
New York State has established aggressive renewable energy targets in
law, requiring 70% of the state's energy be renewable by 2030 and 100%
emission free by 2040. To meet these critical goals and set a nationwide
example for a successful transition to a clean energy economy, the state
must look to reduce barriers to access for renewable energy technolo-
gies. Currently the state offers a tax credit for solar energy system
equipment, but only if it is owned and installed on-site to provide
residential power. This legislation expands the tax credit to include
community solar arrays owned and used by a primary residence, but
installed at another location.
LEGISLATIVE HISTORY::
2023-2024: A1013 (Kelles)/S6069 Skoufis
2022: A9232
FISCAL IMPLICATIONS::
None to the state.
EFFECTIVE DATE::
This act shall take effect immediately and shall apply to taxable years
beginning on and after January 1 succeeding enactment
