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- Referred to investigations and government operations
- Referred to investigations and government operations
Companion bill
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Enacts the residential clean heat and power efficiency act of 2009
In Assembly Committee · Ways And Means · Sponsor RoAnn Destito
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 enacting the residential clean heat and power efficiency act of 2009
PURPOSE OR GENERAL IDEA OF THE BILL This legislation would create a state income tax credit for residential micro-Combined Heat and Power comparable to other measures employed in heating or cooling homes, or providing hot water or electricity (20% or $3,500 whichever is lesser).
Summary of provisions
Amends Section 606 of the tax law: Adds subsection (g-3) that enables individual taxpayers to be allowed a credit against tax imposed by this article equal to twenty percent of residential micro-combined heat and power system cost up to a maximum of $3,500. Specifies that eligible expenditures for residential micro-combined heat and power systems includes costs associated with the purchase of such systems ten kilowatts in size or less on or after July 1, 2008. Specifies that eligible costs also includes materials, on-site labor preparation, assembly and original installation, engineering services, designs and plans directly related to construction and installation, and utility compliance costs. Defines residential micro-combined heat and power systems as integrated, cogeneration residential building heating and electrical power generating systems, operating on any fuel and of any applicable engine, fuel cell, or other technology, with a rated capacity of not more than ten kilowatts electric and any thermal output that at full load has a design total fuel use efficiency of not less than eighty percent and that has a maximum ratio of useful heat energy output to electric output of ten, that may work with conventional heating systems, meets applicable industry and government standards, is connected to the electric system and operated in conjunction with the electric corporations transmission and distribution system. Excludes interest and other finance charges. Allows proration of the credit when multiple taxpayers are involved in the installation of a single system. Grants received by the taxpayer but not included in the federal gross income of the taxpayer shall not be included in expenditures. If any credits or carryovers exceed a taxpayers tax in any year they may be carried over for up to five tax years. Receipts from the sale of residential micro-combined heat and power systems and the service of installing such systems shall be exempt from taxes imposed by this article.
Read the full memo (689 words)
Justification
New York State and its residents face significant energy and air pollution/climate change issues and it is the intent of this legislation to help empower the residents of the State to be able to assist in addressing these issues. These issues include not only the cost of energy but also its supply, along with the effects of global warming due to energy generation. On-site residential micro-combined heat and power systems is a highly effective way of addressing all of these issues with technology that is available today. Residential micro-combined heat and power systems enable residential consumers to receive the benefit of generating electric power for their homes, along with heat, using the same fuel they would otherwise have used solely to heat their homes before. By essentially doubling the benefits received from each unit of fuel used, residential energy consumers will now be able to reduce their energy costs and reduce the amount of pollutants entering the atmosphere all at the same time. At present the types of tax benefits outlined in this legislation are already available to residential solar systems up to 10 kW in size, residential wind systems up to 25 kW, farm wind systems up to 125 kW and, farm sited anaerobic digester cogeneration systems up to 400kW in size. The existing law does not provide any incentive for residents to install micro-combined heat and power systems in their homes. The bill is necessary to encourage investments in micro-combined heat and power systems. Residential micro-combined heat and power systems can provide significant benefits to residential consumers such as reduced energy costs and reduced emissions and help the State meet its goals in these areas a well.
Legislative history
S.6076 - Passed Senate; A.8962 Ways and Means Committee
Fiscal implications
To be determined.
Effective date
Immediately.
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.