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Bill > S05004
NY S05004
NY S05004Provides an exemption for the sale and installation of residential and commercial geothermal heat pump systems equipment.
summary
Introduced
02/21/2023
02/21/2023
In Committee
05/14/2024
05/14/2024
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 geothermal heat pump systems equipment
AI Summary
This bill provides an exemption for the sale and installation of residential and commercial geothermal heat pump systems equipment from the state's sales and use tax. The exemption applies to receipts from the retail sale of such equipment and the service of installing such systems. The bill also allows cities and counties to elect whether to include or exclude this exemption when imposing their own local sales and use taxes.
Committee Categories
Budget and Finance
Sponsors (11)
James Sanders (D)*,
Joe Addabbo (D),
Cordell Cleare (D),
Jeremy Cooney (D),
Michael Gianaris (D),
Pete Harckham (D),
Brad Hoylman (D),
Brian Kavanagh (D),
Liz Krueger (D),
Rachel May (D),
Julia Salazar (D),
Last Action
REPORTED AND COMMITTED TO FINANCE (on 05/14/2024)
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/S5004 |
| BillText | https://assembly.state.ny.us/leg/?default_fld=&bn=S05004&term=2023&Summary=Y&Actions=Y&Text=Y&Committee%26nbspVotes=Y&Floor%26nbspVotes=Y#S05004 |
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