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History
- Reported and committed to finance
- 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.
Exempts receipts from certain retail sales of electricity from taxation under the public services law
In Assembly Committee · Ways And Means · Sponsor Amy Paulin
Full text
The text isn't available here yet. Check nysenate.gov.
Sponsor's memo
BILL NUMBER:S7006
Title of bill
An act to amend the tax law, in relation to exemptions from sales and use taxes
Purpose:
To exempt the retail sale of electricity from solar electric generating equipment from sales and use tax
Summary of Provisions:
Section 1. Exempts the retail sale of electricity from solar electric generating equipment qualified to net meter from sales and compensating use taxes.
Section 2. Sets forth the effective Date
Justification:
In 2012 the legislature acted to exempt solar electric generating equipment from sales d compensating use taxes. As a result of that policy change, along with the solar leasing ax credit and the NYSUN initiative, New York now has a growing solar energy market. One of he key components has been the ability of an installer to put up a solar array, pay the up-front costs and then get paid back on those costs through negotiating a power purchase agreement with the customer. This system is good for consumers, good for the environment and good for the economy. This bill would serve as a natural extension to the solar equipment sales tax exemption adopted in 2012, by extending that exemption to sales of electricity subject to a power purchase agreement.
Fiscal Implications:
To be determined
History:
This is a new bill
Effective Date:
This bill shall take effect immediately
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.