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History
- Referred to local government
- Referred to local government
Companion bill
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Increases the value of the exemption for certain renewable energy systems or farm waste energy systems
In Assembly Committee · Real Property Taxation · Sponsor Fred Thiele
Full text
The text isn't available here yet. Check nysenate.gov.
Sponsor's memo
BILL NUMBER:S3465
Title of bill
An act to amend the real property tax law, in relation to increasing the value of the exemption for certain renewable energy systems or farm waste energy systems
Purpose
To increase the value of the exemption for certain renewable energy systems or farm-waste energy systems.
Summary of provisions
This legislation amends Section 487 of the Real Property Tax Law.
Justification
As a way to address problems associated with increased energy costs and the general dependency on fossil fuels, several states and local governments have adopted programs to gauge the feasibility of renewable energy sources and to provide financial subsidies to encourage the adoption of those sources deemed to be sustainable energy resources. For example, the Town of Southampton on Long Island, New York, has realized the long-term value that solar and geothermal energy utilization can have on the entire community. As such, the Town has implemented a program which offers a rebate to both residents and local businesses that utilize said alternative energy methods, This effective program provides in incentive for those individuals and entities that might not have otherwise chosen to utilize an alternative energy source.
Further incentives are necessary to attract more New Yorkers to utilize alternative energy measures. This legislation would increase the value of the real property tax exemption for certain renewable energy or farm waste energy systems.
Legislative history
2013-14 S.2359-A/A.2609-A; 2011-12 S.3516A; 2009 S 4971A
Fiscal implications
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.