Bill
Bill > S04949
NY S04949
NY S04949Provides a tax exemption from sales and compensating use taxes on alternative energy systems including alternative energy systems, new Energy Star appliances and tangible personal property used in or on habitable residential and non-residential structures to improve energy efficiency; defines relevant terms; authorizes municipalities to adopt the exemption.
summary
Introduced
02/17/2023
02/17/2023
In Committee
01/03/2024
01/03/2024
Crossed Over
Passed
Dead
12/31/2024
12/31/2024
Introduced Session
2023-2024 General Assembly
Bill Summary
AN ACT to amend the tax law, in relation to providing an exemption for alternative energy systems from the state's sales and compensating use taxes and authorizing counties and cities to elect such exemption from their sales and use taxes imposed by or pursuant to the authority of such law; and providing for the repeal of such provisions upon expiration thereof
AI Summary
This bill provides a tax exemption from sales and compensating use taxes on alternative energy systems, including new Energy Star appliances and tangible personal property used to improve the energy efficiency of residential and non-residential structures. It authorizes municipalities to adopt this exemption. The bill also requires the state to reimburse municipalities that offer the exemption for the associated revenue loss. The exemption is intended to encourage the use of renewable energy and energy-efficient technologies.
Committee Categories
Budget and Finance
Sponsors (1)
Last Action
REFERRED TO BUDGET AND REVENUE (on 01/03/2024)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.nysenate.gov/legislation/bills/2023/S4949 |
| BillText | https://assembly.state.ny.us/leg/?default_fld=&bn=S04949&term=2023&Summary=Y&Actions=Y&Text=Y&Committee%26nbspVotes=Y&Floor%26nbspVotes=Y#S04949 |
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