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S3644Senate2015-2016 Session

Establishes a green development home tax exemption in certain counties

Sponsor Marc PanepintoSD-60+3 co-sponsorsAffects Housing
Status
In Assembly Committee
Real Property Taxation
Impact
Pending
Passage
Pending

Bill progress

Step 5 of 7

In Assembly · Real Property Taxation

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Sponsors

Primary sponsor
Marc Panepinto

Senator · Senate District 60

History

  1. Referred to real property taxation
  2. Delivered to assembly
  3. Passed senateVote 58–0
  4. Advanced to third reading
  5. 2nd report cal.
  6. 1st report cal.326
  7. Print number 3644a
  8. Amend (t) and recommit to local government
  9. Referred to local government
  10. Returned to senate
  11. Died in assembly
  12. Referred to real property taxation
Show 6 earlier actions
  1. Delivered to assembly
  2. Passed senateVote 61–0
  3. Advanced to third reading
  4. 2nd report cal.
  5. 1st report cal.262
  6. Referred to local government

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 establishing a green development home tax exemption in certain counties

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 certain counties

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 at local option in counties with a population between 900,000 and 1,000,000 residents. This section further provides that such homes shall be 1, 2, 3 story homes and are designated a green development or are LEED-ND certified.

Further this section specifies what national standards must be met in order to be eligible to qualify for the benefit.

Section 2 provides 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 (LEER). 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 downspouts, 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

2015: Passed Senate 2014: S6117A, Passed Senate

Fiscal implications

None.

Effective date

This act shall take effect on the one hundred twentieth day after becoming law.

Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.