New York S 2626: Prohibits the parking of a vehicle greater than sixty inches in height within fifteen feet of an intersection

Bill Text

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S02626 Summary:

BILL NOS02626 

&nbsp

SAME ASSAME AS A01373-A

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SPONSORHARCKHAM

&nbsp

COSPNSRADDABBO, BASKIN, CLEARE, FAHY, GONZALEZ, HINCHEY, HOYLMAN-SIGAL, JACKSON, KAVANAGH, MAY, PALUMBO,
 PARKER, ROLISON, RYAN C, SALAZAR, SANDERS, SERRANO

&nbsp

MLTSPNSR

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Amd §606, Tax L

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Increases the amount of residential solar tax credits.

Go to top S02626 Actions:

BILL NOS02626 

&nbsp

01/21/2025REFERRED TO BUDGET AND REVENUE

01/07/2026REFERRED TO BUDGET AND REVENUE

Go to topS02626 Committee&nbspVotes:

Go to topS02626 Floor&nbspVotes:

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

Go to topS02626 Text:

 STATE OF NEW YORK
 ________________________________________________________________________

 2626

 2025-2026 Regular Sessions

 IN SENATE

 January 21, 2025
 ___________

 Introduced by Sens. HARCKHAM, GONZALEZ, HINCHEY, HOYLMAN-SIGAL, MAY,
 ROLISON, SALAZAR, SANDERS -- 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 residential solar tax cred-
 its

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

 1 Section 1. Subsection (g-1) of section 606 of the tax law, as amended
 2 by chapter 378 of the laws of 2005, paragraphs 1 and 2 as amended by
 3 chapter 375 of the laws of 2012, paragraph 3 as amended, paragraph 5 as
 4 added, and paragraphs 6, 7 and 8 as renumbered by chapter 128 of the
 5 laws of 2007, is amended to read as follows:
 6 (g-1) Solar energy system equipment credit. (1) General. An individual
 7 taxpayer shall be allowed a credit against the tax imposed by this arti-
 8 cle equal to twenty-six percent of qualified solar energy system equip-
 9 ment expenditures, except as provided in subparagraph (D) of paragraph
 10 two of this subsection. This credit shall not exceed three thousand
 11 seven hundred fifty dollars for qualified solar energy equipment placed
 12 in service before September first, two thousand six, [and] five thousand
 13 dollars for qualified solar energy equipment placed in service on or
 14 after September first, two thousand six and before January first, two
 15 thousand twenty-six, and ten thousand dollars for qualified solar energy
 16 equipment placed in service on or after January first, two thousand
 17 twenty-six.
 18 (2) Qualified solar energy system equipment expenditures. (A) The term
 19 "qualified solar energy system equipment expenditures" means expendi-
 20 tures for:
 21 (i) the purchase of solar energy system equipment which is installed
 22 in connection with residential property which is (I) located in this
 23 state and (II) which is used by the taxpayer as [his or her] their prin-

 EXPLANATION--Matter in italics (underscored) is new; matter in brackets
 [ ] is old law to be omitted.
 LBD00075-02-5

 S. 2626 2

 1 cipal residence at the time the solar energy system equipment is placed
 2 in service;
 3 (ii) the lease of solar energy system equipment under a written agree-
 4 ment that spans at least ten years where such equipment owned by a
 5 person other than the taxpayer is installed in connection with residen-
 6 tial property which is (I) located in this state and (II) which is used
 7 by the taxpayer as [his or her] their principal residence at the time
 8 the solar energy system equipment is placed in service; or
 9 (iii) the purchase of power under a written agreement that spans at
 10 least ten years whereunder the power purchased is generated by solar
 11 energy system equipment owned by a person other than the taxpayer which
 12 is installed in connection with residential property which is (I)
 13 located in this state and (II) which is used by the taxpayer as [his or
 14 her] their principal residence at the time the solar energy system
 15 equipment is placed in service.
 16 (B) Such qualified expenditures shall include expenditures for materi-
 17 als, labor costs properly allocable to on-site preparation, assembly and
 18 original installation, architectural and engineering services, and
 19 designs and plans directly related to the construction or installation
 20 of the solar energy system equipment.
 21 (C) Such qualified expenditures for the purchase of solar energy
 22 system equipment shall not