Bill S1343-2013

Exempts from sales and use tax any geothermal systems

Exempts from sales and use tax any geothermal system.

Details

Actions

  • Jan 8, 2014: REFERRED TO ENERGY AND TELECOMMUNICATIONS
  • Apr 23, 2013: REPORTED AND COMMITTED TO FINANCE
  • Jan 9, 2013: REFERRED TO ENERGY AND TELECOMMUNICATIONS

Meetings

Votes

VOTE: COMMITTEE VOTE: - Energy and Telecommunications - Apr 23, 2013
Ayes (11): Maziarz, Carlucci, Fuschillo, Griffo, O'Mara, Ritchie, Robach, Parker, Adams, Kennedy, Dilan

Memo

BILL NUMBER:S1343

TITLE OF BILL: An act to amend the tax law, in relation to exempting from sales and use taxes any geothermal systems

PURPOSE:

To grant a sales and use tax exemption to persons installing any geothermal systems.

SUMMARY OF PROVISIONS:

Section 1 Subdivision (a) of section 1115 of the tax law is amended by adding paragraph 44 which exempts sale or purchase of any geothermal system from sales and use taxes.

JUSTIFICATION:

A sales and use tax exemption for geothermal systems is an appropriate incentive to encourage more homeowners to install such systems. An increase in geothermal systems will lead to energy savings and an increase in use of renewable energy.

LEGISLATIVE HISTORY:

S7142/A1812 of 2011-12; Referred to Energy & Telecommunications

FISCAL IMPLICATIONS:

To be determined.

EFFECTIVE DATE:

Immediately.


Text

STATE OF NEW YORK ________________________________________________________________________ 1343 2013-2014 Regular Sessions IN SENATE (PREFILED) January 9, 2013 ___________
Introduced by Sens. MAZIARZ, RITCHIE -- read twice and ordered printed, and when printed to be committed to the Committee on Energy and Tele- communications AN ACT to amend the tax law, in relation to exempting from sales and use taxes any geothermal systems THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Subdivision (a) of section 1115 of the tax law is amended by adding a new paragraph 44 to read as follows: (44) SALE OR PURCHASE OF ANY GEOTHERMAL SYSTEMS. S 2. This act shall take effect immediately.

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