New York A00986 provides an exemption for the sale and installation of residential and commercial geothermal heat pump systems equipment.
New York A00986 amends the tax law to exempt receipts from the retail sale and installation of residential and commercial geothermal heat pump systems equipment from taxes. This bill defines "residential geothermal heat pump system equipment" as components installed in a residential building that use the ground or groundwater as a thermal energy source or sink for heating, cooling, or hot water. Similarly, "commercial geothermal heat pump system equipment" refers to components installed in a commercial building for the same purposes.
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