Bill Text: NY S07710 | 2009-2010 | 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 1-0)
Status: (Introduced - Dead) 2010-05-04 - REFERRED TO INVESTIGATIONS AND GOVERNMENT OPERATIONS [S07710 Detail]
Download: New_York-2009-S07710-Introduced.html
S T A T E O F N E W Y O R K
________________________________________________________________________
7710
I N S E N A T E
May 4, 2010
___________
Introduced by Sen. THOMPSON -- read twice and ordered printed, and when
printed to be committed to the Committee on Investigations and Govern-
ment Operations
AN ACT to amend 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. 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 (A) three thousand seven hundred fifty dollars for qualified
8 solar energy equipment placed in service before September first, two
9 thousand six, and (B) five thousand dollars for qualified solar energy
10 equipment placed in service on or after September first, two thousand
11 six BUT PRIOR TO THE EFFECTIVE DATE OF SUBPARAGRAPH (C) OF THIS PARA-
12 GRAPH, AND (C) FIVE THOUSAND DOLLARS FOR QUALIFIED SOLAR EQUIPMENT THAT
13 IS A SOLAR THERMAL ENERGY SYSTEM AND FIVE THOUSAND DOLLARS FOR QUALIFIED
14 SOLAR EQUIPMENT THAT IS A SOLAR ELECTRIC ENERGY SYSTEM.
15 S 2. Subparagraph (A) of paragraph 2 of subsection (g-1) of section
16 606 of the tax law, as amended by chapter 378 of the laws of 2005, is
17 amended to read as follows:
18 (A) The term "qualified solar energy system equipment expenditures"
19 means expenditures for the purchase of solar energy system equipment
20 which is installed in connection with residential property which is (i)
21 located in this state and (ii) which is used by the taxpayer as ANY OF
22 his or her [principal residence] RESIDENCES at the time the solar energy
23 system equipment is placed in service.
24 S 3. Paragraph 3 of subsection (g-1) of section 606 of the tax law, as
25 amended by chapter 128 of the laws of 2007, is amended to read as
26 follows:
EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD15407-01-0
S. 7710 2
1 (3) Solar energy system equipment. (A) 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 energy designed to provide heating, cooling, hot water or electricity
5 for use in such residence. Such arrangement or components shall not
6 include equipment connected to solar energy system equipment that is a
7 component of part or parts of a non-solar energy system or which uses
8 any sort of recreational facility or equipment as a storage medium.
9 [Solar energy system equipment that generates electricity for use in a
10 residence]
11 (B) THE TERM "SOLAR THERMAL ENERGY SYSTEM" SHALL MEAN SOLAR ENERGY
12 EQUIPMENT THAT IS AN ARRANGEMENT OR COMBINATION OF COMPONENTS UTILIZING
13 SOLAR RADIATION, WHICH, WHEN INSTALLED IN A RESIDENCE, PRODUCES ENERGY
14 DESIGNED TO PROVIDED HEATING, COOLING OR HOT WATER FOR USE IN SUCH RESI-
15 DENCE.
16 (C) THE TERM "SOLAR ELECTRIC ENERGY SYSTEM" SHALL MEAN SOLAR ENERGY
17 EQUIPMENT THAT IS AN ARRANGEMENT OR COMBINATION OF COMPONENTS UTILIZING
18 SOLAR RADIATION, WHICH, WHEN INSTALLED IN A RESIDENCE, PRODUCES ENERGY
19 DESIGNED TO PROVIDE ELECTRICITY FOR USE IN SUCH RESIDENCE. SUCH SYSTEMS
20 must conform to applicable requirements set forth in section sixty-six-j
21 of the public service law. Provided, however, where A solar ELECTRIC
22 energy system [equipment] is purchased and installed by a condominium
23 management association or a cooperative housing corporation, for
24 purposes of this subsection only, the term "ten kilowatts" in such
25 section sixty-six-j shall be read as "fifty kilowatts."
26 S 4. Paragraph 4 of subsection (g-1) of section 606 of the tax law, as
27 amended by chapter 378 of the laws of 2005, is amended to read as
28 follows:
29 (4) Multiple taxpayers. Where solar energy system equipment is
30 purchased and installed in a [principal] residence shared by two or more
31 taxpayers, the amount of the credit allowable under this subsection for
32 each such taxpayer shall be prorated according to the percentage of the
33 total expenditure for such solar energy system equipment contributed by
34 each taxpayer.
35 S 5. Paragraph 5 of subsection (g-1) of section 606 of the tax law, as
36 added by chapter 128 of the laws of 2007, is amended to read as follows:
37 (5) Proportionate share. Where solar energy system equipment is
38 purchased and installed by a condominium management association or a
39 cooperative housing corporation, a taxpayer who is a member of the
40 condominium management association or who is a tenant-stockholder in the
41 cooperative housing corporation may for the purpose of this subsection
42 claim a proportionate share of the total expense as the expenditure for
43 the purposes of the credit attributable to his [principal] OR HER resi-
44 dence.
45 S 6. Section 606 of the tax law is amended by adding a new subsection
46 (g-3) to read as follows:
47 (G-3) WIND ENERGY SYSTEM EQUIPMENT CREDIT. (1) GENERAL. AN INDIVIDUAL
48 TAXPAYER SHALL BE ALLOWED A CREDIT AGAINST THE TAX IMPOSED BY THIS ARTI-
49 CLE EQUAL TO TWENTY-FIVE PERCENT OF QUALIFIED WIND ENERGY SYSTEM EQUIP-
50 MENT EXPENDITURES. THIS CREDIT SHALL NOT EXCEED FIVE THOUSAND DOLLARS
51 FOR QUALIFIED WIND ENERGY EQUIPMENT.
52 (2) QUALIFIED WIND ENERGY SYSTEM EQUIPMENT EXPENDITURES. (A) THE TERM
53 "QUALIFIED WIND ENERGY SYSTEM EQUIPMENT EXPENDITURES" MEANS EXPENDITURES
54 FOR THE PURCHASE OF WIND ENERGY SYSTEM EQUIPMENT WHICH IS INSTALLED IN
55 CONNECTION WITH RESIDENTIAL PROPERTY WHICH IS (I) LOCATED IN THIS STATE
S. 7710 3
1 AND (II) WHICH IS USED BY THE TAXPAYER AS ANY OF HIS OR HER RESIDENCES
2 AT THE TIME THE WIND ENERGY SYSTEM EQUIPMENT IS PLACED IN SERVICE.
3 (B) SUCH QUALIFIED EXPENDITURES SHALL INCLUDE EXPENDITURES FOR MATERI-
4 ALS, LABOR COSTS PROPERLY ALLOCABLE TO ON-SITE PREPARATION, ASSEMBLY AND
5 ORIGINAL INSTALLATION, ARCHITECTURAL AND ENGINEERING SERVICES, AND
6 DESIGNS AND PLANS DIRECTLY RELATED TO THE CONSTRUCTION OR INSTALLATION
7 OF THE WIND ENERGY SYSTEM EQUIPMENT.
8 (C) SUCH QUALIFIED EXPENDITURES SHALL NOT INCLUDE INTEREST OR OTHER
9 FINANCE CHARGES.
10 (3) WIND ENERGY SYSTEM EQUIPMENT. THE TERM "WIND ENERGY SYSTEM EQUIP-
11 MENT" SHALL MEAN AN ARRANGEMENT OR COMBINATION OF COMPONENTS UTILIZING
12 WIND, WHICH, WHEN INSTALLED IN A RESIDENCE, PRODUCES ENERGY DESIGNED TO
13 PROVIDE ELECTRICITY FOR USE IN SUCH RESIDENCE. SUCH ARRANGEMENT OR
14 COMPONENTS SHALL NOT INCLUDE EQUIPMENT CONNECTED TO WIND ENERGY SYSTEM
15 EQUIPMENT THAT IS A COMPONENT OF PART OR PARTS OF A NON-WIND ENERGY
16 SYSTEM OR WHICH USES ANY SORT OF RECREATIONAL FACILITY OR EQUIPMENT AS A
17 STORAGE MEDIUM. WIND ENERGY SYSTEM EQUIPMENT THAT GENERATES ELECTRICITY
18 FOR USE IN A RESIDENCE MUST CONFORM TO APPLICABLE REQUIREMENTS SET FORTH
19 IN SECTION SIXTY-SIX-L OF THE PUBLIC SERVICE LAW. PROVIDED, HOWEVER,
20 WHERE WIND ENERGY SYSTEM EQUIPMENT IS PURCHASED AND INSTALLED BY A
21 CONDOMINIUM MANAGEMENT ASSOCIATION OR A COOPERATIVE HOUSING CORPORATION,
22 FOR PURPOSES OF THIS SUBSECTION ONLY, THE TERM "TWENTY-FIVE KILOWATTS"
23 IN SUCH SECTION SIXTY-SIX-L SHALL BE READ AS "FIFTY KILOWATTS."
24 (4) MULTIPLE TAXPAYERS. WHERE WIND ENERGY SYSTEM EQUIPMENT IS
25 PURCHASED AND INSTALLED IN A RESIDENCE SHARED BY TWO OR MORE TAXPAYERS,
26 THE AMOUNT OF THE CREDIT ALLOWABLE UNDER THIS SUBSECTION FOR EACH SUCH
27 TAXPAYER SHALL BE PRORATED ACCORDING TO THE PERCENTAGE OF THE TOTAL
28 EXPENDITURE FOR SUCH WIND ENERGY SYSTEM EQUIPMENT CONTRIBUTED BY EACH
29 TAXPAYER.
30 (5) PROPORTIONATE SHARE. WHERE WIND ENERGY SYSTEM EQUIPMENT IS
31 PURCHASED AND INSTALLED BY A CONDOMINIUM MANAGEMENT ASSOCIATION OR A
32 COOPERATIVE HOUSING CORPORATION, A TAXPAYER WHO IS A MEMBER OF THE
33 CONDOMINIUM MANAGEMENT ASSOCIATION OR WHO IS A TENANT-STOCKHOLDER IN THE
34 COOPERATIVE HOUSING CORPORATION MAY FOR THE PURPOSE OF THIS SUBSECTION
35 CLAIM A PROPORTIONATE SHARE OF THE TOTAL EXPENSE AS THE EXPENDITURE FOR
36 THE PURPOSES OF THE CREDIT ATTRIBUTABLE TO HIS OR HER RESIDENCE.
37 (6) GRANTS. FOR PURPOSES OF DETERMINING THE AMOUNT OF THE EXPENDITURE
38 INCURRED IN PURCHASING AND INSTALLING WIND ENERGY SYSTEM EQUIPMENT, THE
39 AMOUNT OF ANY FEDERAL, STATE OR LOCAL GRANT RECEIVED BY THE TAXPAYER,
40 WHICH WAS USED FOR THE PURCHASE AND/OR INSTALLATION OF SUCH EQUIPMENT
41 AND WHICH WAS NOT INCLUDED IN THE FEDERAL GROSS INCOME OF THE TAXPAYER,
42 SHALL NOT BE INCLUDED IN THE AMOUNT OF SUCH EXPENDITURES.
43 (7) WHEN CREDIT ALLOWED. THE CREDIT PROVIDED FOR IN THIS SUBSECTION
44 SHALL BE ALLOWED WITH RESPECT TO THE TAXABLE YEAR, COMMENCING AFTER TWO
45 THOUSAND NINE, IN WHICH THE WIND ENERGY SYSTEM EQUIPMENT IS PLACED IN
46 SERVICE.
47 (8) CARRYOVER OF CREDIT. IF THE AMOUNT OF THE CREDIT, AND CARRYOVERS
48 OF SUCH CREDIT, ALLOWABLE UNDER THIS SUBSECTION FOR ANY TAXABLE YEAR
49 SHALL EXCEED THE TAXPAYER'S TAX FOR SUCH YEAR, SUCH EXCESS AMOUNT MAY BE
50 CARRIED OVER TO THE FIVE TAXABLE YEARS NEXT FOLLOWING THE TAXABLE YEAR
51 WITH RESPECT TO WHICH THE CREDIT IS ALLOWED AND MAY BE DEDUCTED FROM THE
52 TAXPAYER'S TAX FOR SUCH YEAR OR YEARS.
53 S 7. This act shall take effect on the first of January next succeed-
54 ing the date on which it shall have become a law.
