BILL NUMBER: S5846
SPONSOR: SKOUFIS
 
TITLE OF BILL:
An act to amend the tax law, in relation to expanding the solar energy
system equipment tax credit to cover solar energy system equipment
installed in a community solar array
 
PURPOSE:
To provide a solar energy system tax credit for ownership of a community
solar array that produces energy designed to provide heating, cooling,
hot water or electricity for use in the owner's residence.
 
SUMMARY OF PROVISIONS:
Section 1: Amends paragraphs 3 and 4 of subsection (g-1) of section 606
Of the tax law, allowing for a solar energy system equipment tax credit
to be applied to a "community solar array," meaning a location other
than a person's principal residence where the solar energy system equip-
ment is owned and installed for use in such person's principal resi-
dence.
Section 2: Sets Effective Date.
 
JUSTIFICATION:
New York State has established aggressive renewable energy targets in
law, requiring 70% of the state's energy to be renewable by 2030 and
100% emission-free by 2040. To achieve these critical goals and serve as
a national model for a successful transition to a clean energy economy,
the state must work to eliminate barriers to accessing renewable energy
technologies.
Currently, the state offers a tax credit for solar energy system equip-
ment, but only if it is owned and installed on-site to provide residen-
tial power. This legislation will expand the tax credit to include
community solar arrays owned and used by a primary residence but
installed at another location.
 
LEGISLATIVE HISTORY:
Senate
2021: N/A
2022: S8788, Referred to Budget and Revenue
2023: S6069, Reported and Committed to Finance
2024: S6069, Referred to Budget and Revenue
Assembly
2021: N/A
2022: A9232, Referred to Ways and Means
2023: A1013, Referred to Ways and Means
2024: A1013, Referred to Ways and Means
 
FISCAL IMPLICATIONS:
None to the state.
 
EFFECTIVE DATE:
This act shall take effect immediately and shall apply to taxable years
commencing on and after January 1, 2025.