What's happening
This bill exempts tax levies for renewable energy pilot programs from New York's municipal tax cap calculations.
Why it matters
Encourages Local Investment in Renewables. By allowing municipalities to raise funds for renewable energy pilot programs without counting those funds against the tax cap, the bill could make it easier for local governments to invest in clean energy initiatives without facing budget constraints or requiring voter override.
Potential for Lower Long-Term Costs. Supporting pilot programs for renewable energy could help municipalities reduce their reliance on fossil fuels and, over time, lower utility costs for public facilities and taxpayers as new technologies are implemented and scaled.
Promotes Innovation and Climate Action. Exempting renewable energy pilot program funding from tax cap calculations gives local governments more flexibility to experiment with and accelerate innovative solutions to climate change, potentially positioning New York as a leader in municipal-level clean energy projects.
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Exclude Renewables From Tax Cap
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Sponsors
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History
- Referred to local governments
- Referred to local governments
Full text
1 pageUnderlined is new[Struck] is removedOfficial text on nysenate.gov ↗
STATE OF NEW YORK
8819
2019-2020 Regular Sessions
IN ASSEMBLY
November 25, 2019
Introduced by M. of A. FAHY -- read once and referred to the Committee on Local Governments
AN ACT to amend the general municipal law, in relation to excluding renewable energy pilot projects from the tax cap
The People of the State of New York, represented in Senate and Assembly, do enact as follows:
Section 1. Subparagraph (iv) of paragraph (g) of subdivision 2 of section 3-c of the general municipal law, as added by section 1 of part A of chapter 97 of the laws of 2011, is amended and a new subparagraph (v) is added to read as follows:
(iv) in years in which the normal contribution rate of the New York state teachers' retirement system, as defined by paragraph a of subdivision two of section five hundred seventeen of the education law, increases by more than two percentage points from the previous year, a tax levy necessary for expenditures for the coming fiscal year for local government employer contributions to the New York state teachers' retirement system caused by growth in the normal contribution rate minus two percentage points[.];
(v) a tax levy necessary for expenditures for renewable energy pilot programs.
§ 2. This act shall take effect immediately.
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD13838-01-9
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.