A09700 Summary:

BILL NO    A09700 

SAME AS    No same as 

SPONSOR    Graf

COSPNSR    Garbarino, Colton, McDonough, Crouch, Raia

MLTSPNSR   Hawley, Lupinacci, McKevitt, McLaughlin

Amd S606, Tax L

Relates to a tax abatement for solar power for seniors on a fixed income;
provides that individuals aged 65 years or older and earning 300% of the
federal poverty guidelines or below shall be entitled to an additional 15% tax
abatement for solar energy equipment or for the use of solar energy.
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A09700 Memo:

BILL NUMBER:A9700

TITLE OF BILL:  An act to amend the tax law, in relation to a tax
abatement for solar power for senior citizens on fixed incomes

PURPOSE:

The purpose of this bill would be to create an additional 15% tax
abatement for seniors on a fixed income to enable them to convert to
solar energy.

SUMMARY OF PROVISIONS:

Paragraph 1 of subsection (g-1) of section 606of the tax law is
amended to give Senior Citizens on a fixed incomethat is at or below
three hundred percent of the federal poverty guidelines of 42 U.S.C.
9902(2) shall be entitled to an additional fifteen percent tax
abatement for solar energy equipment or for the use of solar energy.

JUSTIFICATION:

Senior citizens who live on a fixed income are being forced out of
their homes because they cannot afford the cost of living. The high
cost of electricity is making it impossible for senior citizens on a
fixed income to remain living in New York. This bill will assist these
senior citizens to convert to solar energy.

LEGISLATIVE HISTORY:

New Bill

FISCAL IMPLICATIONS:

Minimal.

EFFECTIVE DATE:

This act shall take effect immediately.
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A09700 Text:

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

                                         9700

                                 I N  A S S E M B L Y

                                     May 16, 2014
                                      ___________

       Introduced  by  M. of A. GRAF -- read once and referred to the Committee
         on Ways and Means

       AN ACT to amend the tax law, in relation to a tax  abatement  for  solar
         power for senior citizens on fixed incomes

         THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
       BLY, DO ENACT AS FOLLOWS:

    1    Section 1. Paragraph 1 of subsection (g-1) of section 606 of  the  tax
    2  law,  as  amended by chapter 375 of the laws of 2012, is amended to read
    3  as follows:
    4    (1) General. An individual taxpayer shall be allowed a credit  against
    5  the  tax  imposed by this article equal to twenty-five percent of quali-
    6  fied solar energy system equipment expenditures, except as  provided  in
    7  subparagraph  (D) of paragraph two of this subsection. This credit shall
    8  not exceed three thousand seven  hundred  fifty  dollars  for  qualified
    9  solar  energy  equipment  placed  in service before September first, two
   10  thousand six, and five  thousand  dollars  for  qualified  solar  energy
   11  equipment  placed  in  service on or after September first, two thousand
   12  six.  SENIOR CITIZENS AGED SIXTY-FIVE YEARS OR OLDER ON A  FIXED  ANNUAL
   13  INCOME  THAT IS AT OR BELOW THREE HUNDRED PERCENT OF THE FEDERAL POVERTY
   14  GUIDELINES UNDER THE AUTHORITY OF 42 U.S.C. 9902(2) SHALL BE ENTITLED TO
   15  AN ADDITIONAL FIFTEEN PERCENT TAX ABATEMENT FOR SOLAR  ENERGY  EQUIPMENT
   16  OR  FOR THE USE OF SOLAR ENERGY. "INCOME TAX YEAR" SHALL MEAN THE TWELVE
   17  MONTH PERIOD FOR WHICH THE OWNER OR  OWNERS  FILED  A  FEDERAL  PERSONAL
   18  INCOME TAX RETURN, OR IF NO SUCH RETURN IS FILED, THE CALENDAR YEAR.
   19    S 2. This act shall take effect immediately.




        EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                             [ ] is old law to be omitted.
                                                                  LBD15102-01-4
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