STATE OF NEW YORK
________________________________________________________________________
S. 2879--A A. 4201--A
2015-2016 Regular Sessions
SENATE - ASSEMBLY
January 29, 2015
___________
IN SENATE -- Introduced by Sen. LAVALLE -- read twice and ordered print-
ed, and when printed to be committed to the Committee on Investi-
gations and Government Operations -- recommitted to the Committee on
Investigations and Government Operations in accordance with Senate
Rule 6, sec. 8 -- committee discharged, bill amended, ordered
reprinted as amended and recommitted to said committee
IN ASSEMBLY -- Introduced by M. of A. THIELE -- read once and referred
to the Committee on Ways and Means -- recommitted to the Committee on
Ways and Means in accordance with Assembly Rule 3, sec. 2 -- committee
discharged, bill amended, ordered reprinted as amended and recommitted
to said committee
AN ACT to amend the tax law, in relation to the solar energy system
equipment tax credit
The People of the State of New York, represented in Senate and Assem-
bly, do enact as follows:
1 Section 1. Paragraph 8 of subsection (g-1) of section 606 of the tax
2 law, as amended by chapter 378 of the laws of 2005 and as renumbered by
3 chapter 128 of the laws of 2007, is amended to read as follows:
4 (8) Carryover of credit. If the amount of the credit, and carryovers
5 of such credit, allowable under this subsection for any taxable year
6 shall exceed the taxpayer's tax for such year, such excess amount may be
7 carried over to the [five] ten taxable years next following the taxable
8 year with respect to which the credit is allowed and may be deducted
9 from the taxpayer's tax for such year or years.
10 § 2. This act shall take effect immediately and shall apply to taxable
11 years beginning on or after January 1, 2017.
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD08166-02-6