Bill Text: NY S00206 | 2015-2016 | General Assembly | Amended
Bill Title: Establishes an alternative energy systems and generating equipment tax credit for qualified expenditures meeting the criteria prescribed by the department of taxation and finance, in consultation with the department of environmental conservation and the New York state energy research and development authority, for taxpayers subject to tax under articles nine-A, twenty-two and thirty-three of the tax law whose business is not substantially engaged in the commercial generation, distribution, transmission or servicing of energy or energy products.
Spectrum: Partisan Bill (Republican 1-0)
Status: (Introduced - Dead) 2016-03-30 - PRINT NUMBER 206A [S00206 Detail]
Download: New_York-2015-S00206-Amended.html
STATE OF NEW YORK ________________________________________________________________________ 206--A 2015-2016 Regular Sessions IN SENATE (Prefiled) January 7, 2015 ___________ Introduced by Sen. MARTINS -- read twice and ordered printed, and when printed to be committed to the Committee on Energy and Telecommuni- cations -- recommitted to the Committee on Energy and Telecommuni- cations in accordance with Senate Rule 6, sec. 8 -- committee discharged, bill amended, ordered reprinted as amended and recommitted to said committee AN ACT to amend the tax law, in relation to establishing a tax credit for alternative energy systems and generating equipment The People of the State of New York, represented in Senate and Assem- bly, do enact as follows: 1 Section 1. The tax law is amended by adding a new section 28-a to read 2 as follows: 3 § 28-a. Credit for alternative energy systems and generating equip- 4 ment. (a) General. A taxpayer subject to tax under article nine-A, twen- 5 ty-two or thirty-three of this chapter, whose business is not substan- 6 tially engaged in the commercial generation, distribution, transmission 7 or servicing of energy or energy products, and who employs one or more 8 full-time employees, excluding general executive officers (in the case 9 of a corporation), shall be allowed a credit against such tax, pursuant 10 to the provisions referenced in subdivision (e) of this section. The 11 credit shall be allowed for qualified expenditures which meet the eligi- 12 bility criteria, if any, prescribed by the department, in consultation 13 with the department of environmental conservation and the New York state 14 energy research and development authority, disbursed in New York state. 15 (b) Definitions. For the purposes of this section: (1) The term 16 "solar and wind energy system equipment" shall refer to a system which 17 shall meet the eligibility requirements set by the department of envi- 18 ronmental conservation and the New York state energy and research and 19 development authority which serves as: EXPLANATION--Matter in italics (underscored) is new; matter in brackets [] is old law to be omitted. LBD04880-04-6
