STATE OF NEW YORK
________________________________________________________________________
292
2023-2024 Regular Sessions
IN ASSEMBLY
January 4, 2023
___________
Introduced by M. of A. WALKER -- Multi-Sponsored by -- M. of A. COLTON,
SIMON -- read once and referred to the Committee on Ways and Means
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:
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 and prior to September first, two thousand twenty-three, and ten
13 thousand dollars for qualified solar energy equipment placed in service
14 on or after September first, two thousand twenty-three.
15 § 2. This act shall take effect immediately and shall apply to taxable
16 years commencing on and after January 1, 2023.
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[] is old law to be omitted.
LBD00996-01-3
