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Who cares
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Sponsors
2 Co-sponsors
History
- Print number 4708a
- Amend and recommit to energy and telecommunications
- Referred to energy and telecommunications
- Referred to energy and telecommunications
Companion bill
The same bill in the other chamber. A bill becomes law when one version passes both houses and the governor signs it, so either number can carry it.
Provides for separate personal income tax credits for solar electric, solar thermal and wind energy systems installed upon the residence of a taxpayer
In Assembly Committee · Ways And Means · Sponsor Marcos Crespo
Full text
The text isn't available here yet. Check nysenate.gov.
Sponsor's memo
BILL NUMBER:S4708A
Title of bill
An act to amend the public service law and the tax law, in relation to the personal income tax credit for solar and wind energy systems
Purpose or general idea of bill
The bill provides for the separate personal income tax credits fox solar electric, solar thermal and wind energy systems installed upon the residence of a taxpayer.
Summary of specific provisions
Section 1 of the bill amends the public service law in relation to certain solar and wind energy tax credits under the tax law.
Sections 2-7 of the bill amend various provisions of section 606 of the tax law relating to tax credits for certain solar and wind energy systems.
Section 8 of the bill is the effective date.
Justification
There is a national trend for Americans to use green, efficient energy systems. The price of gas continues to rise as Americans, and especially New Yorkers are finding themselves in a situation where everyday expenses are becoming too much of a burden. Providing a tax credit for those who install solar thermal and wind energy systems provides a great investment for the future because it saves taxpayers money, especially during one of the worst recessions the state, and the nation, has ever seen.
Prior legislative history
New bill
Fiscal implications
To be determined.
Effective date
This act shall take effect on the first of January 1, 2016 and apply to taxable years after such date.
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.