Assembly Bill A3674

2017-2018 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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2017-A3674 (ACTIVE) - Details

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
2015-2016: A2427

2017-A3674 (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.

2017-A3674 (ACTIVE) - Bill Text download pdf 

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   3674
 
                        2017-2018 Regular Sessions
 
                           I N  A S S E M B L Y
 
                             January 30, 2017
                                ___________
 
 Introduced by M. of A. GRAF, GARBARINO, COLTON, McDONOUGH, CROUCH, RAIA,
   MURRAY,  PICHARDO,  SALADINO -- Multi-Sponsored by -- M. of A. BUTLER,
   HAWLEY, KEARNS, 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.
   § 2. This act shall take effect immediately.
 
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD00837-01-7

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