STATE OF NEW YORK ________________________________________________________________________ 6420 2019-2020 Regular Sessions IN ASSEMBLY March 7, 2019 ___________ Introduced by M. of A. WALKER -- 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 nineteen, and ten thou- 13 sand dollars for qualified solar energy equipment placed in service on 14 or after September first, two thousand nineteen. 15 § 2. This act shall take effect immediately and shall apply to taxable 16 years commencing on and after January 1, 2019. EXPLANATION--Matter in italics (underscored) is new; matter in brackets [] is old law to be omitted. LBD03437-01-9