Increases the amount of residential solar tax credits in New York.

This bill amends the tax law to increase the amount of residential solar tax credits in New York. It allows an individual taxpayer a credit equal to 26% of qualified solar energy system equipment expenditures. The bill defines "solar energy system equipment" as an arrangement or combination of components utilizing solar radiation to provide heating, cooling, hot water, or electricity for use in a residence. The credit is prorated for shared residences and condominiums. The bill also allows for the carryover of unused credits and refunds of excess credits.

Increases the amount of residential solar tax credits in New York.

This bill amends the tax law to increase the amount of residential solar tax credits in New York. It allows an individual taxpayer a credit equal to 26% of qualified solar energy system equipment expenditures. The bill defines "solar energy system equipment" as an arrangement or combination of components utilizing solar radiation to provide heating, cooling, hot water, or electricity for use in a residence. The credit is prorated for shared residences and condominiums. The bill also allows for the carryover of unused credits and refunds of excess credits.