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History
- Reported and committed to rules
- Reported and committed to finance
- Referred to local government
- Reported and committed to finance
- Referred to local government
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.
Exempts a homeowner from any tax increases when installing a solar energy system on their home
In Assembly Committee · Real Property Taxation · Sponsor Marc Alessi
Full text
The text isn't available here yet. Check nysenate.gov.
Sponsor's memo
Title of bill
An act to amend the real property tax law, in relation to permanently exempting a homeowner from tax increases when installing a solar energy system on their home
Purpose or general idea
Exempts a homeowner for any tax increase when installing a solar energy system on their home
Summary of provisions
Section 1- amends subdivisions 2, 8, of section 487 of the real property law by chapter 515 of the laws of 2002, and subdivision 9 as added by chapter 608 of the laws of 2002.
Section 2- contains the effective date.
Justification
This legislation will modify the real property law regarding real property which includes a solar energy system, wind energy system or farm waste system. Currently there is a fifteen year real property tax exemption for anyone who installs the aforementioned systems. These structures provide positive benefits to the environment, a reduction in pollution caused by power plants striving to meet the needs of the local energy demand, reduces the demand of foreign oil and save residents money by providing clean free energy. The current exemption for fifteen years provides an incentive for the installation of such system however after the expiration of this exemption (15 years) the increase to real property tax is a discouragement for the upgrade. This legislation will permanently eliminate the increase to real property tax which will provide further incentive for the market of individual alternative energy production and sustainability.
Legislative history
05/21/08 - Referred to Real Property Taxation
Fiscal implications
None.
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.