Bill S1358-2009

Exempts from sales and use tax any geothermal systems

Exempts from sales and use tax any geothermal system.

Details

Actions

  • Jan 6, 2010: REFERRED TO ENERGY AND TELECOMMUNICATIONS
  • Jan 28, 2009: REFERRED TO ENERGY AND TELECOMMUNICATIONS

Memo

 BILL NUMBER:  S1358

TITLE OF BILL :

An act to amend the tax law, in relation to exempting from sales and use taxes related to 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 43 which exempts sale or purchase of any geothermal system from sales and use taxes.

JUSTIFICATION :

Sales and use tax exemption is an appropriate initiative that would encourage more homeowners to install such systems thereby saving energy and reducing reliance on other fuel sources.

LEGISLATIVE HISTORY :

2007-2008: S.8075

FISCAL IMPLICATIONS :

To be determined.

EFFECTIVE DATE : This act shall take effect on the first day of a sales tax quarterly period, as described in subdivision (b) of section 1136 of the tax law, next commencing after this act shall have become a law.

Text

STATE OF NEW YORK ________________________________________________________________________ 1358 2009-2010 Regular Sessions IN SENATE January 28, 2009 ___________
Introduced by Sen. C. JOHNSON -- read twice and ordered printed, and when printed to be committed to the Committee on Energy and Telecommu- nications AN ACT to amend the tax law, in relation to exempting from sales and use taxes related to 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 on the first day of a sales tax quar- terly period, as described in subdivision (b) of section 1136 of the tax law, next commencing after this act shall have become a law.

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