New York A01832 authorizes a personal income tax credit for solar energy systems installed on residential properties owned by taxpayers.

New York A01832 amends the tax law to allow a personal income tax credit for solar energy systems purchased and installed on residential properties owned by taxpayers. The credit is equal to 25% of the qualified solar energy system equipment expenditures. The credit is capped at $3,750 for equipment placed in service before September 1, 2006, and $5,000 for equipment placed in service on or after that date. The bill also allows for a proportionate share of the credit for taxpayers in condominiums or cooperative housing corporations.

New York A01832 authorizes a personal income tax credit for solar energy systems installed on residential properties owned by taxpayers.

New York A01832 amends the tax law to allow a personal income tax credit for solar energy systems purchased and installed on residential properties owned by taxpayers. The credit is equal to 25% of the qualified solar energy system equipment expenditures. The credit is capped at $3,750 for equipment placed in service before September 1, 2006, and $5,000 for equipment placed in service on or after that date. The bill also allows for a proportionate share of the credit for taxpayers in condominiums or cooperative housing corporations.