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NY A07154
Bill
Status
Introduced
3/25/2009
Primary Sponsor
Marc Alessi
Click for details
AI Summary
- Allows taxpayers a tax credit equal to the cost of voltage regulation technology installed to improve grid efficiency
- Requires voltage regulation technology to dynamically raise or lower voltage and maintain at least 99 percent efficiency across at least 90 percent of the electrical load curve
- New York State Energy Research and Development Authority must adopt rules and regulations defining qualifying technologies for the credit
- Excess credits not used in a taxable year may be carried forward to subsequent years but cannot be used for taxable years beginning on or after January 1, 2013
- Applies to both individual income tax (Article 210) and corporate franchise tax (Article 606) with identical credit provisions
Legislative Description
Allows tax credit for the purchase of voltage regulation technology; provides that standards are to be set by NYSERDA; specifies that the credit shall be equal to the cost of voltage regulation technology; specifies that credit shall be carried over to future taxable years not to exceed January 1, 2013.
Last Action
held for consideration in ways and means
7/1/2010
Committee Referrals
Ways and Means3/25/2009
Full Bill Text
No bill text available