What's happening
This bill extends the expiration date for the solar electric generating system tax abatement program from 2021 to 2023.
Why it matters
Supports continued investment in solar energy. by allowing property owners to access tax abatements for installing solar electric systems for two additional years, potentially making solar projects more financially attractive.
Encourages job growth and local economic activity. in the renewable energy sector, as extending the program could stimulate demand for solar installation and related services.
Helps New York advance climate and clean energy goals. by incentivizing more property owners to switch to solar, contributing to reduced greenhouse gas emissions and increased use of renewable energy sources.
Provides more time for property owners and developers. who may have missed the earlier deadline, ensuring broader participation and potentially greater community-level benefits from solar adoption.
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Who cares
Headline styles
Extend Solar Tax Deadline
Plain English, a few words. Used as the page title.
Sponsors
No co-sponsors yet.
History
- Referred to cities
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.
Extend Solar Tax Abatement
In Assembly Committee · Real Property Taxation · Sponsor Robert C. Carroll
Full text
1 pageUnderlined is new[Struck] is removedOfficial text on nysenate.gov ↗
STATE OF NEW YORK
7598
IN SENATE
January 29, 2020
Introduced by Sen. PARKER -- read twice and ordered printed, and when printed to be committed to the Committee on Cities
AN ACT to amend the real property tax law, in relation to extending the expiration of the solar electric generating system tax abatement
The People of the State of New York, represented in Senate and Assembly, do enact as follows:
Section 1. Paragraph (d) of subdivision 1 of section 499-bbbb of the real property tax law, as separately amended by chapters 327 and 412 of the laws of 2018, is amended to read as follows:
(d) if the solar electric generating system is placed in service on or after January first, two thousand fourteen, and before January first, two thousand [twenty-one] twenty-three, for each year of the compliance period such tax abatement shall be the lesser of (i) five percent of eligible solar electric generating system expenditures, (ii) the amount of taxes payable in such tax year, or (iii) sixty-two thousand five hundred dollars; or
§ 2. Subdivision 1 of section 499-cccc of the real property tax law, as separately amended by chapters 327 and 412 of the laws of 2018, is amended to read as follows:
1. To obtain a tax abatement pursuant to this title, an applicant must file an application for tax abatement, which may be filed on or after January first, two thousand nine, and on or before March fifteenth, two thousand [twenty-one] twenty-three.
§ 3. This act shall take effect immediately.
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD14529-01-9
Reflowed for reading: line numbers and page breaks removed. Cite the official text.
Sponsor's memo
Title of bill
An act to amend the real property tax law, in relation to extending the expiration of the solar electric generating system tax abatement
Purpose
This bill would amend subdivision one of section 499-bbbb of the Real Property Tax Law (RPTL) by adding a new paragraph (c) and would amend subdivision one of section 499-cc6c of the RPTL.
Summary of provisions
If the solar electric generating system is placed in service on or after January 1, 2021 and before January 1, 2023, the amount of the tax abate- ment would be 5 percent of eligible solar electric generating system expenditures in each year of the four-year compliance period. However, the benefit in each tax year would be limited to the lesser of the amount of taxes payable or $62,500. "Eligible solar electric generating system expenditures" include reasonable expenditures for materials, labor costs properly allocable to on-site preparation, assembly and original installation, architectural and engineering services, and designs and plans directly related to the construction or installation of the solar electric generating system.
Justification
This legislation would extend and strengthen an existing incentive program to encourage the installation of solar electric generating systems, in connection with class one, class two and class four proper- ties in the City. This program is aligned with the longstanding commit- ment of New York State and the City of New York to reduce greenhouse gas emission reduction and providing cleaner, more reliable power for every New Yorker. These goals will be achieved through efforts to improve energy efficiency and clean our energy supply. In the near term, the City will still rely on conventional energy sources, such as natural gas. Solar power in New York City has historically cost more per kilo- watt of installed capacity than in other parts of the State of New York, primarily because of more stringent requirements of the NYC Department of Buildings and increased complexity in the building sites. Data from the New York State Energy Research and Development Authority indicates that solar energy projects in New York City cost approximately 25% more than the state average. Continuation of the property tax abatement is necessary to offset a portion of the extra costs associated with NYC solar energy installation, thus further stimulating clean energy invest- ment and job creation throughout New York City.
Legislative history
Chapter 396 of the Laws of 2014.
Chapter 393 of the Laws of 2016.
Chapter 327 of the Laws of 2018.
Fiscal implications
Undetermined.
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.