What's happening
This bill expands the green building tax credit to include all residential buildings in New York.
Why it matters
Broader access to incentives. By including all residential buildings, the bill allows a much wider range of homeowners and landlords to qualify for the green building tax credit, not just those in previously eligible categories (such as certain multifamily or commercial buildings).
Encouragement for sustainable housing. Expanding the credit could lead to more widespread adoption of green building practices in the residential sector, potentially reducing energy consumption and environmental impact across New York's housing stock.
Potential cost savings for residents. Homeowners and tenants in newly qualifying buildings may benefit from lower utility bills and improved living conditions as a result of energy-efficient upgrades incentivized by the tax credit.
Public investment trade-offs. The expansion could increase the overall cost of the tax credit program for the state, affecting budget allocations and possibly influencing funding for other initiatives.
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Who cares
Headline styles
Expand Green Tax Credit
Plain English, a few words. Used as the page title.
Sponsors
10 Co-sponsors
History
- Referred to ways and means
- Referred to ways and means
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.
Expand Green Tax Credit
In Senate Committee · Investigations And Government Operations · Sponsor Kevin S. Parker
Full text
1 pageUnderlined is new[Struck] is removedOfficial text on nysenate.gov ↗
STATE OF NEW YORK
512
2017-2018 Regular Sessions
IN ASSEMBLY
January 9, 2017
Introduced by M. of A. GUNTHER, JAFFEE, PEOPLES-STOKES, MOSLEY, COLTON, STIRPE, OTIS, CAHILL, PERRY, ROSENTHAL, RAIA -- Multi-Sponsored by -- M. of A. BENEDETTO, COOK, DINOWITZ, FAHY, HOOPER, LOPEZ, SCHIMMINGER, STECK, TITONE -- read once and referred to the Committee on Ways and Means
AN ACT to amend the tax law, in relation to providing a green building credit to all residential buildings
The People of the State of New York, represented in Senate and Assembly, do enact as follows:
Section 1. Subparagraphs (D) and (E) of paragraph 6 of subdivision (b) of section 19 of the tax law, as added by section 2 of part II of chapter 63 of the laws of 2000, are amended to read as follows:
(D) any combination of buildings described in subparagraphs (A), (B) and (C) of this paragraph, [and] or
(E) any residential building, and
(F) is not a building located on freshwater wetlands or tidal wetlands the construction of which requires a permit under section 24-0701 or 25-0403, respectively, of the environmental conservation law, or on wetlands such that the construction thereof requires a permit pursuant to section 404 of the federal clean water act (33 U.S.C. § 1344).
§ 2. This act shall take effect immediately.
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD03541-01-7
Reflowed for reading: line numbers and page breaks removed. Cite the official text.
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.