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Sponsors
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History
- Referred to energy and telecommunications
- Referred to energy and telecommunications
Full text
The text isn't available here yet. Check nysenate.gov.
Sponsor's memo
Title of bill
An act to amend the tax law, in relation to exempting from sales and use taxes related to any geothermal systems
Purpose
To grant a sales and use tax exemption to persons installing any geothermal systems.
Summary of provisions
Section 1 Subdivision (a) of section 1115 of the tax law is amended by adding paragraph 43 which exempts sale or purchase of any geothermal system from sales and use taxes.
Justification
Sales and use tax exemption is an appropriate initiative that would encourage more homeowners to install such systems thereby saving energy and reducing reliance on other fuel sources.
Legislative history
2007-2008: S.8075
Fiscal implications
To be determined.
Effective date
This act shall take effect on the first day of a sales tax quarterly period, as described in subdivision (b) of section 1136 of the tax law, next commencing after this act shall have become a law.
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.