Bill Text: NY A04353 | 2021-2022 | General Assembly | Introduced

---

Bill Title: Relates to increasing the tax credit provided for solar energy system equipment from $5,000 to $10,000.

Spectrum: Partisan Bill (Democrat 3-0)

Status: (Introduced - Dead) 2022-01-05 - referred to ways and means [A04353 Detail]

Download: New_York-2021-A04353-Introduced.html

---

                STATE OF NEW YORK
        ________________________________________________________________________

                                          4353

                               2021-2022 Regular Sessions

                   IN ASSEMBLY

                                    February 1, 2021
                                       ___________

        Introduced  by  M. of A. WALKER, SIMON, COLTON -- read once and referred
          to the Committee on Ways and Means

        AN ACT to amend the tax law, in relation to increasing  the  tax  credit
          provided  for solar energy system equipment from five thousand dollars
          to ten thousand dollars

          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 and prior to September first, two thousand twenty-one, and ten thou-
    13  sand  dollars  for qualified solar energy equipment placed in service on
    14  or after September first, two thousand twenty-one.
    15    § 2. This act shall take effect immediately and shall apply to taxable
    16  years commencing on and after January 1, 2021.



         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD07758-01-1