Breakthrough Technologies Institute - Fuel Cells 2000

4. INCENTIVES/MARKET STIMULATION
POWER GENERATION
Fuel Cell Electric Generating Equipment Tax Credit
www.tax.state.ny.us/pdf/2005/inc/it259i_2005.pdf
The New York Tax Law allows a credit for the purchase and installation of eligible fuel
cell electric generating equipment. The credit is 20% of the qualified fuel cell electric
generating equipment expenditures for the purchase and installation of fuel cell electric
generating equipment. However, the credit cannot exceed $1,500 for each unit
purchased. The equipment must be installed and used in New York State and must be
placed in service on or after July 1, 2005. A qualifying fuel cell is defined as an on-site
electricity generation system that utilizes PEM technology with a rated system capacity
between 1 kW and 100 kW.
Contact:
New York State Department of Taxation and Finance
Phone: (800) 225-5829 (individual taxpayer) or (800) 972-1233 (business taxpayer)
E-mail: http://tax.custhelp.com/cgibin/tax.cfg/php/enduser/ask.php?p_sid=tX6itU1i&p_lva=&p_sp=&p_li=
(individual
taxpayer) or http://nystax.custhelp.com/cgibin/nystax.cfg/php/enduser/ask.php?p_sid=4DUvtU1i&p_lva=&p_sp=&p_li=
(business
taxpayer)
Web: www.tax.state.ny.us
New York Green Building Tax Credit
http://www.dec.state.ny.us/website/ppu/grnbldg/index.html
http://www.dec.state.ny.us/website/ppu/grnbldg/legis.html
The Green Building Tax Credit program was signed into law in 2000, allowing a credit for
a percentage of "Allowable Costs" (generally, those costs properly chargeable to capital
account, other than for land) and paid or incurred by a taxpayer. The Department of
Environmental Conservation (DEC) began accepting applications in 2002 and $25
million in Green Building Tax Credits were allocated to seven buildings.
New legislation was passed in 2005 to amend the Green Building Tax Credit Program to
provide an additional $25 million in credits, with the aggregate amount of credit
components permitted for each such building being $2 million. DEC has five years, from
2005 through 2009, to accept applications for and issue initial credit component
certificates for the additional allocation. The existing Green Building Tax Credit
regulations are being updated and applications for credit component certificates for
Period Two will not be accepted until the updated regulations are promulgated.
The Green Building Tax Credit program is divided into six components:
• Green Whole Building credit component;
• Green Base Building credit component;
• Green Tenant Space credit component;
146