A34B-2011 Actions

• Aug 17, 2012: signed chap.375
• Aug 6, 2012: delivered to governor
• Jun 20, 2012: RETURNED TO ASSEMBLY
• Jun 20, 2012: PASSED SENATE
• Jun 20, 2012: 3RD READING CAL.1428
• Jun 20, 2012: SUBSTITUTED FOR S149B
• Jan 10, 2012: REFERRED TO INVESTIGATIONS AND GOVERNMENT OPERATIONS
• Jan 10, 2012: delivered to senate
• Jan 10, 2012: passed assembly
• Jan 4, 2012: ordered to third reading cal.1
• Jan 4, 2012: RETURNED TO ASSEMBLY
• Jan 4, 2012: DIED IN SENATE
• Jun 23, 2011: REFERRED TO RULES
• Jun 23, 2011: delivered to senate
• Jun 23, 2011: passed assembly
• Jun 23, 2011: ordered to third reading rules cal.607
• Jun 23, 2011: rules report cal.607
• Jun 23, 2011: reported
• Jun 23, 2011: reported referred to rules
• May 16, 2011: print number 34b
• May 16, 2011: amend and recommit to ways and means
• Mar 2, 2011: print number 34a
• Mar 2, 2011: amend and recommit to ways and means
• Jan 5, 2011: referred to ways and means

A34B-2011 Votes

A34B-2011 Text

 S T A T E   O F   N E W   Y O R K
 
 34--B
 2011-2012 Regular Sessions
 I N  ASSEMBLY
 (PREFILED)
 January 5, 2011
 
 Introduced by M. of A. CAHILL -- read once and referred to the Committee
 on  Ways  and  Means  --  committee  discharged, bill amended, ordered
 reprinted as amended  and  recommitted  to  said  committee  --  again
 reported  from  said  committee  with amendments, ordered reprinted as
 amended and recommitted to said committee
 

AN ACT to amend the tax law, in relation to  tax  credits  provided  for
 solar energy system equipment
 

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

 

Section 1. Paragraphs 1 and 2 of subsection (g-1) of  section  606  of
 the  tax law, as amended by chapter 378 of the laws of 2005 and subpara
 graph (B) of paragraph 2 as amended by chapter 251 of the laws of  2006,
 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.
 (2) Qualified solar energy system equipment expenditures. (A) The term
 "qualified solar energy system equipment  expenditures"  means  expendi
 tures for:

 (I)  the  purchase of solar energy system equipment which is installed
 in connection with residential property which is [(i)]  (I)  located  in
 this  state  and [(ii)] (II) which is used by the taxpayer as his or her
 principal residence at the time the solar  energy  system  equipment  is
 placed in service;
 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
 [ ] is old law to be omitted.
 LBD00898-04-1
 
       A. 34--B                            2
 (II) THE LEASE OF SOLAR ENERGY SYSTEM EQUIPMENT UNDER A WRITTEN AGREE
 MENT  THAT  SPANS  AT  LEAST  TEN  YEARS WHERE SUCH EQUIPMENT OWNED BY A
 PERSON OTHER THAN THE TAXPAYER IS INSTALLED IN CONNECTION WITH  RESIDEN
 TIAL  PROPERTY WHICH IS (I) LOCATED IN THIS STATE AND (II) WHICH IS USED
 BY  THE TAXPAYER AS HIS OR HER PRINCIPAL RESIDENCE AT THE TIME THE SOLAR
 ENERGY SYSTEM EQUIPMENT IS PLACED IN SERVICE; OR
 (III) THE PURCHASE OF POWER UNDER A WRITTEN AGREEMENT  THAT  SPANS  AT
 LEAST  TEN  YEARS  WHEREUNDER  THE POWER PURCHASED IS GENERATED BY SOLAR
 ENERGY SYSTEM EQUIPMENT OWNED BY A PERSON OTHER THAN THE TAXPAYER  WHICH
 IS  INSTALLED  IN  CONNECTION  WITH  RESIDENTIAL  PROPERTY  WHICH IS (I)
 LOCATED IN THIS STATE AND (II) WHICH IS USED BY THE TAXPAYER AS  HIS  OR
 HER PRINCIPAL RESIDENCE AT THE TIME THE SOLAR ENERGY SYSTEM EQUIPMENT IS
 PLACED IN SERVICE.
 (B) Such qualified expenditures shall include expenditures for materi
 als, labor costs properly allocable to on-site preparation, assembly and
 original  installation,  architectural  and  engineering  services,  and
 designs and plans directly related to the construction  or  installation
 of the solar energy system equipment.
 (C)  Such  qualified  expenditures  FOR  THE  PURCHASE OF SOLAR ENERGY
 SYSTEM EQUIPMENT shall not include interest or other finance charges.
 (D) SUCH QUALIFIED EXPENDITURES FOR THE LEASE OF SOLAR  ENERGY  SYSTEM
 EQUIPMENT  OR  THE  PURCHASE  OF  POWER  UNDER AN AGREEMENT DESCRIBED IN
 CLAUSES (II) OR (III)  OF  SUBPARAGRAPH  (A)  OF  THIS  PARAGRAPH  SHALL
 INCLUDE  AN  AMOUNT  EQUAL  TO ALL PAYMENTS MADE DURING THE TAXABLE YEAR
 UNDER SUCH AGREEMENT. PROVIDED, HOWEVER,  SUCH  CREDITS  SHALL  ONLY  BE
 ALLOWED  FOR  FOURTEEN  YEARS AFTER THE FIRST TAXABLE YEAR IN WHICH SUCH
 CREDIT IS ALLOWED.  PROVIDED FURTHER, HOWEVER, THE  TWENTY-FIVE  PERCENT
 LIMITATION  IN  PARAGRAPH ONE OF THIS SUBSECTION SHALL ONLY APPLY TO THE
 TOTAL AGGREGATE AMOUNT OF ALL PAYMENTS TO BE MADE PURSUANT TO AN  AGREE
 MENT  REFERENCED  IN  CLAUSES  (II) OR (III) OF SUBPARAGRAPH (A) OF THIS
 PARAGRAPH, AND SHALL NOT APPLY TO  INDIVIDUAL  PAYMENTS  MADE  DURING  A
 TAXABLE  YEAR  UNDER SUCH AGREEMENT EXCEPT TO THE EXTENT SUCH LIMITATION
 ON AN AGGREGATE BASIS HAS BEEN REACHED.
 

S 2. This act shall take effect immediately.

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