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History
- Referred to investigations and government operations
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 the multiple dwelling carbon emissions reduction tax abatement.
In Assembly Committee · Real Property Taxation · Sponsor Dan Quart
Full text
The text isn't available here yet. Check nysenate.gov.
Sponsor's memo
BILL NUMBER:S7317
Title of bill
An act to amend the tax law and the real property tax law, in relation to establishing the carbon emissions reduction credit and the multiple dwelling carbon emissions reduction tax abatement
Purpose
To provide a tax abatement to homeowners where the heating system has been converted from one that burns number six fuel oil to one that burns certain less carbon-intense fuel or utilizes certain renewable energy sources.
Summary of provisions
Section 1 amends the tax law to provide a tax incentive to owners of a single family dwelling to convert its heating system from one that burns number six fuel oil to one that burns certain less carbon-intense fuel or utilizes certain renewable energy sources.
Section 2 amends the real property tax law to provide a tax incentive to owners of a multi-family dwelling to convert its heating system from one that burns number six fuel oil to one that burns certain less carbon-intense fuel or utilizes certain renewable energy sources.
Section 3 of the bill is the effective date.
Justification
Currently, some dwellings use fuel sources that are more carbon--intense than others. Although dwelling owners may want to convert their heating system to a less carbon-intense alternative, the cost of doing so is a deterrent. By providing a tax incentive, this bill would encourage the conversion to less carbon-intense fuels.
Legislative history
New Bill.
Fiscal implications
To be determined.
Effective date
Immediately.
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.