Provides an exemption for the sale and installation of residential and commercial geothermal heat pump systems equipment

This bill creates a tax exemption for sales and installation of geothermal heat pump systems in both residential and commercial buildings. It exempts from sales tax the equipment and installation services for systems that use ground or groundwater for heating, cooling, and hot water - excluding recreational facilities. The exemption applies to residential systems (defined in new paragraph 47) and commercial systems (defined in new subdivision mm) under New York's tax law. Local governments may choose whether to apply these exemptions, as the bill modifies existing tax code provisions to include them.