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History
- Referred to real property taxation
Companion bill
The same bill in the other chamber. A bill becomes law when one version passes both houses and the governor signs it, so either number can carry it.
Authorizes a municipal corporation to provide a real property tax exemption for improvements to real property meeting LEED certification standards for green buildings
In Senate Committee · Local Government · Sponsor Kenneth P. LaValle
Full text
The text isn't available here yet. Check nysenate.gov.
Sponsor's memo
BILL NUMBER:A9819
Title of bill
An act to amend the real property tax law, in relation to authorizing a municipal corporation to provide a real property tax exemption for improvements to real property meeting LEED certification standards for green buildings
Purpose
Authorizes a municipal corporation to provide a real property tax exemption for improvements to real property meeting LEED certification standards for green buildings.
Summary of provisions
Section 1 of the bill amends the real property tax law by adding a new section 470 which provides a property tax exemption for LEED certified buildings at local option.
Section 2 of the legislation sets forth the percentage of the exemption based on the LEED certification classification (certified/silver, gold or platinum). The percentages of exemptions are listed by year.
Section 3 lists eligibility criteria for the exemption: (a) construction of improvements must commence after January 1, 2011 or later as may be specified by local law; (b) project exceeds $10,000; and(c) proper documentation required. Further provides that "ordinary maintenance and repairs" do not qualify for this exemption.
Section 4 provides for the commencement of the exemption upon the approval of the assessor. The exemption will be effective after the taxable status date.
Justification
New York has become proactive in bolstering efforts to reduce greenhouse gas emissions by promoting energy efficiency in homes and businesses throughout the State. Significant measures have been enacted in an effort to accomplish this goal. This legislation would allow municipal corporations to adopt local laws granting a real property tax exemption for property improvements meeting LEED certification standards for energy efficient buildings. This incentive would further build upon New York's efforts by encouraging more homeowners and businesses to go "green".
Legislative history
New Legislation, 2010.
Fiscal impact on the state
To be determined.
Effective date
This act shall take effect immediately.
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.