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.
STATE OF NEW YORK
________________________________________________________________________
752--A
2019-2020 Regular Sessions
IN SENATE(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:
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 July first, two thousand twenty, and ten thousand
13 dollars for qualified solar energy equipment placed in service on or
14 after July first, two thousand twenty.
15 § 2. Paragraph 3 of subsection (g-1) of section 606 of the tax law, as
16 amended by chapter 128 of the laws of 2007, is amended to read as
17 follows:
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[] is old law to be omitted.
LBD03437-02-0
S. 752--A 2
1 (3) Solar energy system equipment. The term "solar energy system
2 equipment" shall mean an arrangement or combination of components
3 utilizing solar radiation, which, when installed in a residence, produc-
4 es and may store energy designed to provide heating, cooling, hot water
5 or electricity for use in such residence. Such arrangement or components
6 may include electric energy storage equipment but shall not include any
7 other equipment connected to solar energy system equipment that is a
8 component of part or parts of a non-solar energy system or which uses
9 any sort of recreational facility or equipment as a storage medium.
10 Solar energy system equipment that generates electricity for use in a
11 residence must conform to applicable requirements set forth in section
12 sixty-six-j of the public service law. Provided, however, where solar
13 energy system equipment is purchased and installed by a condominium
14 management association or a cooperative housing corporation, for
15 purposes of this subsection only, the term "ten kilowatts" in such
16 section sixty-six-j shall be read as "fifty kilowatts."
17 § 3. This act shall take effect immediately and shall apply to taxable
18 years commencing on and after January 1, 2020.
