Bill Text: NY A09090 | 2011-2012 | General Assembly | Introduced
Bill Title: Relates to increasing the tax credit provided for solar energy system equipment from $5000 to $10,000.
Spectrum: Partisan Bill (Democrat 2-0)
Status: (Introduced - Dead) 2012-01-20 - referred to ways and means [A09090 Detail]
Download: New_York-2011-A09090-Introduced.html
S T A T E O F N E W Y O R K ________________________________________________________________________ 9090 I N A S S E M B L Y January 20, 2012 ___________ Introduced by M. of A. MILLMAN, BRENNAN -- 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 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 378 of the laws of 2005, 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. This credit shall not 7 exceed three thousand seven hundred fifty dollars for qualified solar 8 energy equipment placed in service before September first, two thousand 9 six, and five thousand dollars for qualified solar energy equipment 10 placed in service on or after September first, two thousand six AND 11 PRIOR TO SEPTEMBER FIRST, TWO THOUSAND TWELVE, AND TEN THOUSAND DOLLARS 12 FOR QUALIFIED SOLAR ENERGY EQUIPMENT PLACED IN SERVICE ON OR AFTER 13 SEPTEMBER FIRST, TWO THOUSAND TWELVE. 14 S 2. This act shall take effect immediately and shall apply to taxable 15 years commencing on and after January 1, 2012. EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD14054-01-2