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Sponsors
Senator · Senate District 5
No co-sponsors yet.
History
- Referred to local government
- 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 William Colton
Full text
The text isn't available here yet. Check nysenate.gov.
Sponsor's memo
BILL NUMBER:S3409
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
To exempt a homeowner from any tax increase after installation of a solar energy system on their home.
Summary of provisions
Section 1- amends subdivisions 2 of section 487 of the real property law to remove the current limitation of 15 years on any increased assessment for wind, solar and farm waste to energy systems. Section 5 is amended to allow any home solar energy systems constructed after January 1,2014 to receive this incentive. Section 8 is repealed to clarify that this tax exemption applies to county city, town, village and school taxes.
Section 2- contains the effective date
Justification
This legislation would modify the real property law regarding real property which includes a solar energy system, wind energy system and farm waste system. Currently there is a fifteen year real property tax increase 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
2009-10: A.4896/Real Property; S.4915/Local Govt/Finance/Rules 2008: A.11203/Real Property
Fiscal implications
None.
Effective date
This act shall take immediately.
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.