What's happening
This bill creates a tax credit for farmers who install wind electric generating equipment on their property, covering up to 25% of costs.
Why it matters
Encourages on-farm renewable energy. By reducing the upfront cost of wind turbines, the bill incentivizes farmers to adopt clean energy, potentially lowering their operating expenses and supporting New York’s climate goals.
Limits on system size and eligibility. The credit only applies to wind systems up to 100 kilowatts, ensuring benefits target small- and medium-sized farms rather than large commercial developers, and requires the equipment be installed at the farmer’s primary premises.
Caps and proration ensure equitable access. The $7,500 maximum credit per taxpayer and proration for shared ownership prevent disproportionate benefits and make the incentive accessible to partnerships or co-owned farms.
Coordination with grants and carryover flexibility. Any overlapping public grants are subtracted from eligible costs to avoid double-dipping, and unused credits can be carried forward for up to five years, increasing the likelihood farmers can fully utilize the benefit even if their annual tax liability is low.
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Who cares
Headline styles
Tax Credit for Farm Wind Power
Plain English, a few words. Used as the page title.
Sponsors
History
- Referred to ways and means
- Referred to ways and means
Full text
2 pagesUnderlined is new[Struck] is removedOfficial text on nysenate.gov ↗
STATE OF NEW YORK
285
2017-2018 Regular Sessions
IN ASSEMBLY
January 5, 2017
Introduced by M. of A. GUNTHER, ORTIZ, ABBATE, SKARTADOS, STECK, COOK, ABINANTI -- read once and referred to the Committee on Ways and Means
AN ACT to amend the tax law, in relation to establishing a credit against tax for wind electric generating equipment installed on farm property
The People of the State of New York, represented in Senate and Assembly, do enact as follows:
Section 1. Section 606 of the tax law is amended by adding a new subsection (g-3) to read as follows:
(g-3) Wind electric generating equipment credit; farm property. (1) General. A taxpayer shall be allowed a credit against the tax imposed by this article equal to twenty-five percent of qualified wind electric generating equipment expenditures. This credit shall not exceed seven thousand five hundred dollars.
(2) Qualified wind electric generating equipment expenditures. (A) The term "qualified wind electric generating equipment expenditures" means expenditures, limited to the expenditure cap set forth in subparagraph (B) of this paragraph, for the purchase of wind electric generating equipment which is installed on farm property which is (i) located in this state and (ii) used by the taxpayer as his or her principal premises at the time the wind electric generating equipment is placed in service.
(B) For purposes of subparagraph (A) of this paragraph, the term "expenditure cap" shall mean the product of (i) six dollars and (ii) the number of watts included in the rated capacity of the wind electric generating equipment.
(C) Such qualified expenditures shall include expenditures for materials, labor costs properly allocable to on-site preparation, assembly and original installation, architectural and engineering services, and designs and plans directly related to the construction or installation of the wind electric generating equipment.
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD02701-01-7
A. 285 2
(D) Such qualified expenditures shall not include interest or other finance charges.
(3) Wind electric generating equipment. The term "wind electric generating equipment" shall mean equipment which, when installed at a taxpayer's premises, uses wind energy for the purpose of generating electricity for use at such premises and which has a rated capacity for generating electricity which does not exceed one hundred kilowatts.
(4) Multiple taxpayers. Where wind electric generating equipment is purchased and installed in a principal premises shared by two or more taxpayers, the amount of the credit allowable under this subsection for each such taxpayer shall be prorated according to the percentage of the total expenditure for such wind electric generating equipment contributed by each taxpayer.
(5) Grants. For purposes of determining the amount of the expenditure incurred in purchasing and installing wind electric generating equipment, the amount of any federal, state or local grant received by the taxpayer, which was used for the purchase and/or installation of such equipment and which was not included in the federal gross income of the taxpayer, shall not be included in the amount of such expenditures.
(6) When credit allowed. The credit provided for herein shall be allowed with respect to the taxable year, commencing on or after January first, two thousand eighteen, in which the wind electric generating equipment is placed in service.
(7) Carryover of credit. If the amount of the credit, and carryovers of such credit, allowable under this subsection for any taxable year shall exceed the taxpayer's tax for such year, such excess amount may be carried over to the five taxable years next following the taxable year with respect to which the credit is allowed and may be deducted from the taxpayer's tax for such year or years.
§ 2. This act shall take effect immediately.
Reflowed for reading: line numbers and page breaks removed. Cite the official text.
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