What's happening
This bill expands eligibility for the green building tax credit to all residential buildings in New York State.
Why it matters
Increases accessibility and incentives for green construction. By expanding the green building tax credit to all residential buildings, more homeowners, developers, and landlords across New York State can benefit from tax breaks, making eco-friendly upgrades and construction more financially attractive.
Encourages broader adoption of sustainable practices. The change can drive higher demand for green building materials, energy-efficient designs, and sustainable technologies in the residential sector, potentially accelerating the state's progress on climate and energy goals.
Potentially impacts housing markets and affordability. Making the credit available to all residential buildings could influence property values, rental costs, and development trends, especially if green-certified homes become more desirable or if initial upgrade costs are offset by tax incentives.
Maintains environmental safeguards. The amendment preserves exclusions for buildings on certain protected wetlands, ensuring that environmental protections remain in place even as the tax credit’s scope widens.
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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
2 Multi-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
3624
2019-2020 Regular Sessions
IN ASSEMBLY
January 29, 2019
Introduced by M. of A. GUNTHER, JAFFEE, PEOPLES-STOKES, MOSLEY, COLTON, STIRPE, OTIS, CAHILL, PERRY, L. ROSENTHAL, RAIA -- Multi-Sponsored by -- M. of A. BENEDETTO, COOK -- 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.
LBD00421-01-9
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.