Exempts from sales and use tax any geothermal system.
TITLE OF BILL: An act to amend the tax law, in relation to exempting from sales and use taxes any geothermal systems
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.
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.
S7142/A1812 of 2011-12; Referred to Energy & Telecommunications
To be determined.
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.EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD02272-01-3