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NY A02396
Bill
Status
Introduced
1/15/2013
Primary Sponsor
Steven Englebright
Click for details
AI Summary
- Allows taxpayers who own or operate wind energy system equipment a tax credit equal to 25% of qualified expenditures, capped at $7,500
- Qualified expenditures include purchase, materials, labor, installation, and engineering services for wind energy equipment installed at the taxpayer's principal premises in New York State
- Excludes interest and finance charges from qualified expenditures
- Permits unused credits to be carried forward for up to five following taxable years
- Credit applies to tax years beginning after 2013 when wind energy equipment is placed in service
- For shared premises with multiple taxpayers, credits are prorated based on each taxpayer's percentage contribution to total equipment costs
Legislative Description
Establishes corporate and personal income tax credits for the purchase of wind energy system equipment; customer-generators will be allowed a tax credit of 25% of qualified expenditures on wind energy system equipment, not to exceed $7500.
Last Action
held for consideration in ways and means
6/17/2014
Committee Referrals
Ways and Means1/15/2013
Full Bill Text
No bill text available