senate Bill S2034

Relates to exemptions for improvements to real property meeting certification standards for green buildings

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Bill Status


  • Introduced
  • In Committee
  • On Floor Calendar
    • Passed Senate
    • Passed Assembly
  • Delivered to Governor
  • Signed/Vetoed by Governor
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actions

  • 09 / Jan / 2013
    • REFERRED TO HOUSING, CONSTRUCTION AND COMMUNITY DEVELOPMENT
  • 27 / Feb / 2013
    • 1ST REPORT CAL.93
  • 28 / Feb / 2013
    • 2ND REPORT CAL.
  • 04 / Mar / 2013
    • ADVANCED TO THIRD READING
  • 05 / Mar / 2013
    • SUBSTITUTED BY A2080

Summary

Relates to exemptions for improvements to real property meeting certification standards for green buildings.

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Bill Details

See Assembly Version of this Bill:
A2080
Versions:
S2034
Legislative Cycle:
2013-2014
Law Section:
Real Property Tax Law
Laws Affected:
Amd ยง470, RPT L

Votes

Sponsor Memo

BILL NUMBER:S2034

TITLE OF BILL: An act to amend the real property tax law, in relation
to exemptions for improvements to real property meeting certification
standards for green buildings

PURPOSE: To authorize municipal corporations to establish a maximum
exemption amount for an exemption for improvements to real property
meeting LEED certification standards for green buildings.

SUMMARY OF SPECIFIC PROVISIONS: This bill would authorize municipal
corporations that adopt the provisions of Section 470 of the Real Prop-
erty Tax Law to provide an exemption for improvements to real property
meeting LEED certification standards for green buildings, to include a
maximum exemption amount in its local law, ordinance or resolution.

JUSTIFICATION: Section 470 of the Real Property Tax Law authorizes
municipal corporations to provide an exemption to certain properties
meeting LEED certification standards for green buildings. This section
provides a set benefit schedule. Several localities have expressed an
interest in adopting the provisions of this section, but are concerned
that it would be too costly. This bill would make clear that municipal
corporations have the ability to limit the exemption to a specific
dollar amount, allowing them to limit the cost of the program.

LEGISLATIVE HISTORY: New Legislation, 2013.

FISCAL IMPLICATIONS: None to the State.

EFFECTIVE DATE: Immediately.

view bill text
                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

    S. 2034                                                  A. 2080

                       2013-2014 Regular Sessions

                      S E N A T E - A S S E M B L Y

                               (PREFILED)

                             January 9, 2013
                               ___________

IN SENATE -- Introduced by Sen. LAVALLE -- read twice and ordered print-
  ed,  and  when  printed  to  be committed to the Committee on Housing,
  Construction and Community Development

IN ASSEMBLY -- Introduced by M. of A. THIELE -- read once  and  referred
  to the Committee on Real Property Taxation

AN ACT to amend the real property tax law, in relation to exemptions for
  improvements  to  real  property  meeting  certification standards for
  green buildings

  THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section  1. Subdivision 2 of section 470 of the real property tax law,
as added by chapter 188 of the laws of  2012,  is  amended  to  read  as
follows:
  2.  Such real property, or portion thereof, which is certified under a
LEED certification standard for the  categories  of  certified,  silver,
gold or platinum as meeting green building standards, as determined by a
LEED  accredited  professional shall be exempt as provided below for the
respective percentages provided that A MUNICIPAL CORPORATION MAY  ESTAB-
LISH  A  MAXIMUM  EXEMPTION AMOUNT IN ITS LOCAL LAW, ORDINANCE OR RESOL-
UTION, AND PROVIDED FURTHER, a copy of  the  LEED  certification  for  a
qualified  category  is filed with the assessor's office and is approved
by the assessor as meeting the requirements  of  this  section  and  the
municipal   corporation's  local  law,  ordinance  or  resolution.  Such
exemption shall be to the extent  of  any  increase  in  assessed  value
resulting  from the construction or reconstruction of a property meeting
LEED certification.
                             LEED EXEMPTION
YEAR      CERTIFIED/SILVER         GOLD      PLATINUM
1         100%                     100%      100%

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD04302-01-3

S. 2034                             2                            A. 2080

2         100%                     100%      100%
3         100%                     100%      100%
4         80%                      100%      100%
5         60%                      80%       100%
6         40%                      60%       100%
7         20%                      40%       80%
8         0%                       20%       60%
9         0%                       0%        40%
10        0%                       0%        20%
  S 2. This act shall take effect immediately.

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