Assembly Bill A2427

2015-2016 Legislative Session

Relates to a tax abatement for solar power for seniors on a fixed income

download bill text pdf

Sponsored By

Archive: Last Bill Status - In Assembly Committee

  • Introduced
    • In Committee Assembly
    • In Committee Senate
    • On Floor Calendar Assembly
    • On Floor Calendar Senate
    • Passed Assembly
    • Passed Senate
  • Delivered to Governor
  • Signed By Governor

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2015-A2427 (ACTIVE) - Details

See Senate Version of this Bill:
S4184
Current Committee:
Assembly Ways And Means
Law Section:
Tax Law
Laws Affected:
Amd §606, Tax L
Versions Introduced in Other Legislative Sessions:
2013-2014: A9700
2017-2018: A3674

2015-A2427 (ACTIVE) - Summary

Relates to a tax abatement for solar power for seniors on a fixed income; provides that individuals aged 65 years or older and earning 300% of the federal poverty guidelines or below shall be entitled to an additional 15% tax abatement for solar energy equipment or for the use of solar energy.

2015-A2427 (ACTIVE) - Bill Text download pdf 

                            
                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                  2427

                       2015-2016 Regular Sessions

                          I N  A S S E M B L Y

                            January 16, 2015
                               ___________

Introduced  by M. of A. GRAF, GARBARINO, COLTON, McDONOUGH, CROUCH, RAIA
  -- Multi-Sponsored  by  --  M.  of  A.  HAWLEY,  LUPINACCI,  McKEVITT,
  McLAUGHLIN  --  read  once  and  referred to the Committee on Ways and
  Means

AN ACT to amend the tax law, in relation to a tax  abatement  for  solar
  power for senior citizens on fixed incomes

  THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section 1. Paragraph 1 of subsection (g-1) of section 606 of  the  tax
law,  as  amended by chapter 375 of the laws of 2012, is amended to read
as follows:
  (1) General. An individual taxpayer shall be allowed a credit  against
the  tax  imposed by this article equal to twenty-five percent of quali-
fied solar energy system equipment expenditures, except as  provided  in
subparagraph  (D) of paragraph two of this subsection. This credit shall
not exceed three thousand seven  hundred  fifty  dollars  for  qualified
solar  energy  equipment  placed  in service before September first, two
thousand six, and five  thousand  dollars  for  qualified  solar  energy
equipment  placed  in  service on or after September first, two thousand
six.  SENIOR CITIZENS AGED SIXTY-FIVE YEARS OR OLDER ON A  FIXED  ANNUAL
INCOME  THAT IS AT OR BELOW THREE HUNDRED PERCENT OF THE FEDERAL POVERTY
GUIDELINES UNDER THE AUTHORITY OF 42 U.S.C. 9902(2) SHALL BE ENTITLED TO
AN ADDITIONAL FIFTEEN PERCENT TAX ABATEMENT FOR SOLAR  ENERGY  EQUIPMENT
OR  FOR THE USE OF SOLAR ENERGY. "INCOME TAX YEAR" SHALL MEAN THE TWELVE
MONTH PERIOD FOR WHICH THE OWNER OR  OWNERS  FILED  A  FEDERAL  PERSONAL
INCOME TAX RETURN, OR IF NO SUCH RETURN IS FILED, THE CALENDAR YEAR.
  S 2. This act shall take effect immediately.


 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD05576-01-5

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