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Who cares
Headline styles
Sponsors
1 Co-sponsor
History
- Referred to real property taxation
- Delivered to assembly
- Passed senateVote 59–0
- Advanced to third reading
- 2nd report cal.
- 1st report cal.959
- 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.
Establishes a green development home tax exemption
In Assembly Committee · Real Property Taxation · Sponsor Kevin Cahill
Full text
The text isn't available here yet. Check nysenate.gov.
Sponsor's memo
BILL NUMBER:S6664
Title of bill
An act to amend the real property tax law, in relation to establishing a green development home tax exemption
Purpose
This legislation would allow a tax exemption for real property tax exemption of thirty five percent for a period of no longer than twenty years if authorized by the local municipality.
Summary of specific provisions
Section 1 creates the Green development home tax exemption which would be a thirty five percent exemption for a period of no longer than twenty years. This section provides that such an incentive shall be at local option. This section further provides that such homes shall be 1, 2, 3 story homes are designated a green development or are LEED-ND certified. Further this section specifies what national standards must be meet in order to be eligible to qualify for the benefit. Section 2 is the effective date.
Justification
In order to facilitate growth in the green home market an incentive is needed as these homes typically cost more than the average new home. In order to qualify for this incentive a new home will have to meet specific National Association of Home Builders (NAHB) or Leadership in Energy and Environmental Design (LEED). Specific of these standards that these homes will have to meet include but are not limited: protection of high value vegetation, improved soil, low or no VOC finishes, rain barrels at down spouts, recycled content building materials must be used as 2 major components, built in recycling collection space, renewable energy sources per house, energy star rating of 3.0 or higher, low flow showers and toilets, green certified products must be used. These are a few examples.
Prior legislative history
New Bill.
Fiscal implications
None.
Effective date
This act shall take effect on the one hundred twentieth day after it shall have become a law. Effective immediately, the addition, amendment and/or repeal of any rule or regulation necessary for the implementation of this act on its effective date is authorized to be made on or before such date.
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.