Bill Text: NY A02427 | 2015-2016 | General Assembly | Introduced

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Bill Title: 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.

Spectrum: Moderate Partisan Bill (Republican 12-3)

Status: (Introduced - Dead) 2016-06-14 - held for consideration in ways and means [A02427 Detail]

Download: New_York-2015-A02427-Introduced.html

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                           S T A T E   O F   N E W   Y O R K
       ________________________________________________________________________
                                         2427
                              2015-2016 Regular Sessions
                                 I N  A S S E M B L Y
                                   January 16, 2015
                                      ___________
       Introduced  by M. of A. GRAF, GARBARINO, COLTON, McDONOUGH, CROUCH, RAIA
         -- Multi-Sponsored  by  --  M.  of  A.  HAWLEY,  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:
    1    Section 1. Paragraph 1 of subsection (g-1) of section 606 of  the  tax
    2  law,  as  amended by chapter 375 of the laws of 2012, is amended to read
    3  as follows:
    4    (1) General. An individual taxpayer shall be allowed a credit  against
    5  the  tax  imposed by this article equal to twenty-five percent of quali-
    6  fied solar energy system equipment expenditures, except as  provided  in
    7  subparagraph  (D) of paragraph two of this subsection. This credit shall
    8  not exceed three thousand seven  hundred  fifty  dollars  for  qualified
    9  solar  energy  equipment  placed  in service before September first, two
   10  thousand six, and five  thousand  dollars  for  qualified  solar  energy
   11  equipment  placed  in  service on or after September first, two thousand
   12  six.  SENIOR CITIZENS AGED SIXTY-FIVE YEARS OR OLDER ON A  FIXED  ANNUAL
   13  INCOME  THAT IS AT OR BELOW THREE HUNDRED PERCENT OF THE FEDERAL POVERTY
   14  GUIDELINES UNDER THE AUTHORITY OF 42 U.S.C. 9902(2) SHALL BE ENTITLED TO
   15  AN ADDITIONAL FIFTEEN PERCENT TAX ABATEMENT FOR SOLAR  ENERGY  EQUIPMENT
   16  OR  FOR THE USE OF SOLAR ENERGY. "INCOME TAX YEAR" SHALL MEAN THE TWELVE
   17  MONTH PERIOD FOR WHICH THE OWNER OR  OWNERS  FILED  A  FEDERAL  PERSONAL
   18  INCOME TAX RETURN, OR IF NO SUCH RETURN IS FILED, THE CALENDAR YEAR.
   19    S 2. This act shall take effect immediately.
        EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                             [ ] is old law to be omitted.
                                                                  LBD05576-01-5