Bill Text: NY A05290 | 2019-2020 | General Assembly | Introduced
Bill Title: Provides for separate personal income tax credits for solar electric, solar thermal and wind energy systems installed upon any residence of a taxpayer.
Spectrum: Partisan Bill (Democrat 7-0)
Status: (Introduced - Dead) 2020-07-06 - enacting clause stricken [A05290 Detail]
Download: New_York-2019-A05290-Introduced.html
STATE OF NEW YORK ________________________________________________________________________ 5290 2019-2020 Regular Sessions IN ASSEMBLY February 8, 2019 ___________ Introduced by M. of A. CRESPO -- read once and referred to the Committee on Ways and Means AN ACT to amend the public service law and the tax law, in relation to the personal income tax credit for solar and wind energy systems The People of the State of New York, represented in Senate and Assem- bly, do enact as follows: 1 Section 1. The public service law is amended by adding a new section 2 73 to read as follows: 3 § 73. Coordination with certain provisions of the tax law. The depart- 4 ment may request from the department of taxation and finance a summary 5 of tax credits granted in a calendar year pursuant to the provisions of 6 subsections (g-1) and (g-3) of section six hundred six of the tax law. 7 Such summary shall include the total number of residences that have been 8 granted a solar energy system equipment credit or a wind energy system 9 equipment credit, a description of the improvements to which the credit 10 relates, and an indication of the combined rated capacity of each such 11 improvement in terms of kilowatts. 12 § 2. Paragraph 1 of subsection (g-1) of section 606 of the tax law, as 13 amended by chapter 375 of the laws of 2012, is amended to read as 14 follows: 15 (1) General. An individual taxpayer shall be allowed a credit against 16 the tax imposed by this article equal to twenty-five percent of quali- 17 fied solar energy system equipment expenditures, except as provided in 18 subparagraph (D) of paragraph two of this subsection. This credit shall 19 not exceed (A) three thousand seven hundred fifty dollars for qualified 20 solar energy equipment placed in service before September first, two 21 thousand six, and (B) five thousand dollars for qualified solar energy 22 equipment placed in service on or after September first, two thousand 23 six, but prior to January first, two thousand twenty-one, and (C) five 24 thousand dollars for qualified solar energy equipment that is a solar 25 thermal energy system placed in service on or after January first, two EXPLANATION--Matter in italics (underscored) is new; matter in brackets [] is old law to be omitted. LBD08881-01-9A. 5290 2 1 thousand twenty-one, and (D) five thousand dollars for qualified solar 2 energy equipment that is a solar electric energy system placed in 3 service on or after January first, two thousand twenty-one. 4 § 3. Subparagraph (A) of paragraph 2 of subsection (g-1) of section 5 606 of the tax law, as amended by chapter 375 of the laws of 2012, is 6 amended to read as follows: 7 (A) The term "qualified solar energy system equipment expenditures" 8 means expenditures for: 9 (i) the purchase of solar energy system equipment, a solar thermal 10 energy system, or a solar electric energy system which is installed in 11 connection with residential property which is (I) located in this state 12 and (II) which is used by the taxpayer as any of his or her [principal13residence] residences at the time the solar energy system equipment, a 14 solar thermal energy system, or a solar electric energy system is placed 15 in service; 16 (ii) the lease of solar energy system equipment, a solar thermal ener- 17 gy system, or a solar electric energy system under a written agreement 18 that spans at least ten years where such equipment owned by a person 19 other than the taxpayer is installed in connection with residential 20 property which is (I) located in this state and (II) which is used by 21 the taxpayer as any of his or her [principal residence] residences at 22 the time the solar energy system equipment, a solar thermal energy 23 system, or a solar electric energy system is placed in service; or 24 (iii) the purchase of power under a written agreement that spans at 25 least ten years whereunder the power purchased is generated by solar 26 energy system equipment, a solar thermal energy system, or a solar elec- 27 tric energy system owned by a person other than the taxpayer which is 28 installed in connection with residential property which is (I) located 29 in this state and (II) which is used by the taxpayer as any of his or 30 her [principal residence] residences at the time the solar energy system 31 equipment, a solar thermal energy system, or a solar electric energy 32 system is placed in service. 33 § 4. Paragraph 3 of subsection (g-1) of section 606 of the tax law, as 34 amended by chapter 128 of the laws of 2007, is amended to read as 35 follows: 36 (3) Solar energy system equipment. (A) The term "solar energy system 37 equipment" shall mean an arrangement or combination of components 38 utilizing solar radiation, which, when installed in a residence, produc- 39 es energy designed to provide heating, cooling, hot water or electricity 40 for use in such residence. Such arrangement or components shall not 41 include equipment connected to solar energy system equipment that is a 42 component of part or parts of a non-solar energy system or which uses 43 any sort of recreational facility or equipment as a storage medium. 44 [Solar energy system equipment that generates electricity for use in a45residence] 46 (B) The term "solar thermal energy system" shall mean solar energy 47 equipment that is an arrangement or combination of components utilizing 48 solar radiation, which, when installed in a residence, produces energy 49 designed to provide heating, cooling or hot water for use in such resi- 50 dence. 51 (C) The term "solar electric energy system" shall mean solar energy 52 equipment that is an arrangement or combination of components utilizing 53 solar radiation, which, when installed in a residence, produces energy 54 designed to provide electricity for use in such residence. Such systems 55 must conform to applicable requirements set forth in section sixty-six-j 56 of the public service law. Provided, however, where a solar electricA. 5290 3 1 energy system [equipment] is purchased and installed by a condominium 2 management association or a cooperative housing corporation, for 3 purposes of this subsection only, the term "ten kilowatts" in such 4 section sixty-six-j shall be read as "fifty kilowatts." 5 § 5. Paragraph 4 of subsection (g-1) of section 606 of the tax law, as 6 amended by chapter 378 of the laws of 2005, is amended to read as 7 follows: 8 (4) Multiple taxpayers. Where solar energy system equipment is 9 purchased and installed in a [principal] residence shared by two or more 10 taxpayers, the amount of the credit allowable under this subsection for 11 each such taxpayer shall be prorated according to the percentage of the 12 total expenditure for such solar energy system equipment contributed by 13 each taxpayer. 14 § 6. Paragraph 5 of subsection (g-1) of section 606 of the tax law, as 15 added by chapter 128 of the laws of 2007, is amended to read as follows: 16 (5) Proportionate share. Where solar energy system equipment is 17 purchased and installed by a condominium management association or a 18 cooperative housing corporation, a taxpayer who is a member of the 19 condominium management association or who is a tenant-stockholder in the 20 cooperative housing corporation may for the purpose of this subsection 21 claim a proportionate share of the total expense as the expenditure for 22 the purposes of the credit attributable to his [principal] or her resi- 23 dence. 24 § 7. Section 606 of the tax law is amended by adding a new subsection 25 (g-3) to read as follows: 26 (g-3) Wind energy system equipment credit. (1) General. An individual 27 taxpayer shall be allowed a credit against the tax imposed by this arti- 28 cle equal to twenty-five percent of qualified wind energy system equip- 29 ment expenditures. This credit shall not exceed five thousand dollars 30 for qualified wind energy equipment. 31 (2) Qualified wind energy system equipment expenditures. (A) The term 32 "qualified wind energy system equipment expenditures" means expenditures 33 for the purchase of wind energy system equipment which is installed in 34 connection with residential property which is (i) located in this state 35 and (ii) which is used by the taxpayer as any of his or her residences 36 at the time the wind energy system equipment is placed in service. 37 (B) Such qualified expenditures shall include expenditures for materi- 38 als, labor costs properly allocable to on-site preparation, assembly and 39 original installation, architectural and engineering services, and 40 designs and plans directly related to the construction or installation 41 of the wind energy system equipment. 42 (C) Such qualified expenditures shall not include interest or other 43 finance charges. 44 (3) Wind energy system equipment. The term "wind energy system equip- 45 ment" shall mean an arrangement or combination of components utilizing 46 wind, which, when installed in a residence, produces energy designed to 47 provide electricity for use in such residence. Such arrangement or 48 components shall not include equipment connected to wind energy system 49 equipment that is a component of part or parts of a non-wind energy 50 system or which uses any sort of recreational facility or equipment as a 51 storage medium. Wind energy system equipment that generates electricity 52 for use in a residence must conform to applicable requirements set forth 53 in section sixty-six-l of the public service law. Provided, however, 54 where wind energy system equipment is purchased and installed by a 55 condominium management association or a cooperative housing corporation,A. 5290 4 1 for purposes of this subsection only, the term "twenty-five kilowatts" 2 in such section sixty-six-l shall be read as "fifty kilowatts." 3 (4) Multiple taxpayers. Where wind energy system equipment is 4 purchased and installed in a residence shared by two or more taxpayers, 5 the amount of the credit allowable under this subsection for each such 6 taxpayer shall be prorated according to the percentage of the total 7 expenditure for such wind energy system equipment contributed by each 8 taxpayer. 9 (5) Proportionate share. Where wind energy system equipment is 10 purchased and installed by a condominium management association or a 11 cooperative housing corporation, a taxpayer who is a member of the 12 condominium management association or who is a tenant-stockholder in the 13 cooperative housing corporation may for the purpose of this subsection 14 claim a proportionate share of the total expense as the expenditure for 15 the purposes of the credit attributable to his or her residence. 16 (6) Grants. For purposes of determining the amount of the expenditure 17 incurred in purchasing and installing wind energy system equipment, the 18 amount of any federal, state or local grant received by the taxpayer, 19 which was used for the purchase and/or installation of such equipment 20 and which was not included in the federal gross income of the taxpayer, 21 shall not be included in the amount of such expenditures. 22 (7) When credit allowed. The credit provided for in this subsection 23 shall be allowed with respect to the taxable year, commencing after two 24 thousand twenty-one, in which the wind energy system equipment is placed 25 in service. 26 (8) Carryover of credit. If the amount of the credit, and carryovers 27 of such credit, allowable under this subsection for any taxable year 28 shall exceed the taxpayer's tax for such year, such excess amount may be 29 carried over to the five taxable years next following the taxable year 30 with respect to which the credit is allowed and may be deducted from the 31 taxpayer's tax for such year or years. 32 § 8. This act shall take effect January 1, 2022 and shall apply to 33 taxable years beginning on and after such date.
