New York S 5436: Relates to providing recourse for manufactured homeowners in manufactured home parks confronted with unjustifiable rent increases

Bill Text

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S05436 Summary:

BILL NOS05436 

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SAME ASNo Same As

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SPONSORGRIFFO

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COSPNSRGALLIVAN, HELMING, OBERACKER, RHOADS, STEC

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MLTSPNSR

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Amd §606, Tax L

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Enacts the "grid resiliency act" relating to the operation of major electric generation facilities, peaker plants, and simple cycle and regenerative combustion turbines, and to tax credits for the purchase and installation of residential auxiliary electric generating equipment and for disruptions in electric or gas service.

Go to top S05436 Actions:

BILL NOS05436 

&nbsp

02/21/2025REFERRED TO BUDGET AND REVENUE

01/07/2026REFERRED TO BUDGET AND REVENUE

Go to topS05436 Committee&nbspVotes:

Go to topS05436 Floor&nbspVotes:

There are no Assembly votes for this bill in this legislative session.

Go to topS05436 Text:

 STATE OF NEW YORK
 ________________________________________________________________________

 5436

 2025-2026 Regular Sessions

 IN SENATE

 February 21, 2025
 ___________

 Introduced by Sen. GRIFFO -- read twice and ordered printed, and when
 printed to be committed to the Committee on Budget and Revenue

 AN ACT to amend the tax law, in relation to enacting the "grid resilien-
 cy act"

 The People of the State of New York, represented in Senate and Assem-
 bly, do enact as follows:

 1 Section 1. Short title. This act shall be known and may be cited as
 2 the "grid resiliency act".
 3 § 2. Notwithstanding any provision of law or regulation to the contra-
 4 ry, no major electric generation facility, peaker plant, or simple cycle
 5 or regenerative combustion turbine, may be closed, decommissioned,
 6 prohibited from operating, or have its operations impaired, by a state
 7 agency or state regulatory body, unless a new major electric generation
 8 facility, or major renewable energy facility, that has the capacity to
 9 produce greater than or equal to the same megawatts, has been opened and
 10 is in operation; provided however, nothing in this section shall prohib-
 11 it a company from voluntarily closing or decommissioning a major elec-
 12 tric generation facility, peaker plant, or simple cycle or regenerative
 13 combustion turbine.
 14 § 3. Notwithstanding any provision of law or regulation to the contra-
 15 ry, no major electric generation facility, peaker plant, or simple cycle
 16 or regenerative combustion turbine, may be closed, decommissioned,
 17 prohibited from operating, or have its operations impaired, by a state
 18 agency or state regulatory body, if it has been designated as a reli-
 19 ability source by the New York independent system operator; provided
 20 however, nothing in this section shall prohibit a company from voluntar-
 21 ily closing or decommissioning a major electric generation facility,
 22 peaker plant, or simple cycle or regenerative combustion turbine.
 23 § 4. Section 606 of the tax law is amended by adding a new subsection
 24 (g-5) to read as follows:

 EXPLANATION--Matter in italics (underscored) is new; matter in brackets
 [ ] is old law to be omitted.
 LBD09921-01-5

 S. 5436 2

 1 (g-5) Residential auxiliary electric generating equipment credit. (1)
 2 An individual taxpayer whose annual gross income does not exceed two
 3 hundred fifty thousand dollars shall be allowed a credit against tax
 4 imposed by this article for fifty percent of the cost of the purchase
 5 and installation of residential auxiliary electric generating equipment,
 6 not to exceed seven thousand five hundred dollars.
 7 (2) Carryover of credit and refundability. If the amount of the cred-
 8 it, and carryovers of such credit, allowable under this subsection for
 9 any taxable year shall exceed the taxpayer's tax for such year, such
 10 excess amount may be carried over to the five taxable years next follow-
 11 ing the taxable year with respect to which the credit is allowed and may
 12 be deducted from the taxpayer's tax for such year or years. For taxable
 13 years beginning on or after January first, two thousand twenty-seven, if
 14 the amount of the credit allowable under this subsection shall exceed
 15 the taxpayer's tax liability for such year, the excess shall be treated
 16 as an overpayment of tax to be credited or refunded in accordance with
 17 the provisions of section six hundred eighty-six of this article;
 18 provided, however