Expands the solar energy system equipment tax credit to include equipment in community solar arrays.

New York S05846 amends the tax law to expand the solar energy system equipment tax credit to cover equipment installed in a community solar array. This bill defines a "community solar array" as a location other than a person's principal residence where solar energy system equipment is owned and installed for use in such residence. The credit is prorated among multiple taxpayers sharing a residence or a community solar array. The changes apply to taxable years beginning on and after January 1 following the date the act becomes law.

Expands the solar energy system equipment tax credit to include equipment in community solar arrays.

New York S05846 amends the tax law to expand the solar energy system equipment tax credit to cover equipment installed in a community solar array. This bill defines a "community solar array" as a location other than a person's principal residence where solar energy system equipment is owned and installed for use in such residence. The credit is prorated among multiple taxpayers sharing a residence or a community solar array. The changes apply to taxable years beginning on and after January 1 following the date the act becomes law.