BILL NUMBER:A9819
TITLE OF BILL:
An act
to amend the real property tax law, in relation to authorizing a
municipal corporation to provide a real property tax exemption for
improvements to real property meeting LEED certification standards for
green buildings
PURPOSE: Authorizes a municipal corporation to
provide a real property
tax exemption for improvements to real property meeting LEED
certification standards for green buildings.
SUMMARY OF PROVISIONS: Section 1 of the bill amends
the real
property tax law by adding a new section 470 which provides a
property tax exemption for LEED certified buildings at local
option.
Section 2 of the legislation sets forth the percentage of the
exemption based on the LEED certification classification
(certified/silver, gold or platinum). The percentages of
exemptions are listed by year.
Section 3 lists eligibility criteria for the exemption:
S T A T E O F N E W Y O R K
________________________________________________________________________
9819
I N A S S E M B L Y
January 29, 2010
___________
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 authorizing a
municipal corporation to provide a real property tax exemption for
improvements to real property meeting LEED 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. The real property tax law is amended by adding a new
section 470 to read as follows:
S 470. EXEMPTION FOR IMPROVEMENTS TO REAL PROPERTY MEETING LEED
CERTIFICATION STANDARDS FOR GREEN BUILDINGS. 1. CONSTRUCTION OF IMPROVE-
MENTS TO REAL PROPERTY INITIATED ON OR AFTER THE FIRST DAY OF JANUARY,
TWO THOUSAND ELEVEN MEETING LEED CERTIFICATION STANDARDS FOR GREEN
BUILDINGS AS PROVIDED IN THIS SECTION, SHALL BE EXEMPT FROM TAXATION BY
ANY MUNICIPAL CORPORATION IN WHICH LOCATED TO THE EXTENT PROVIDED IN
THIS SECTION, PROVIDED THE GOVERNING BOARD OF SUCH MUNICIPALITY, AFTER
PUBLIC HEARING, ADOPTS A LOCAL LAW, ORDINANCE OR RESOLUTION PROVIDING
THEREFOR.
2. SUCH REAL PROPERTY OR PORTION THEREOF WHICH IS CERTIFIED UNDER A
CERTIFICATION STANDARD APPROVED BY THE MUNICIPAL CORPORATION WHICH IS
DETERMINED TO BE EQUIVALENT TO THE LEED CERTIFICATION FOR THE CATEGORIES
OF CERTIFIED, SILVER, GOLD OR PLATINUM AS MEETING GREEN BUILDING STAND-
ARDS SHALL BE EXEMPT AS PROVIDED BELOW FOR THE RESPECTIVE PERCENTAGES
PROVIDED THAT A COPY OF THE CERTIFICATION FOR A QUALIFIED CATEGORY IS
FILED WITH THE ASSESSOR OF THE MUNICIPAL CORPORATION AND THE ASSESSOR
APPROVES THE APPLICATION FOR THE APPLICABLE CATEGORY AS MEETING THE
REQUIREMENTS OF THIS SECTION AND THE MUNICIPAL CORPORATION'S LOCAL LAW,
ORDINANCE OR RESOLUTION.
LEED EXEMPTION
YEAR CERTIFIED/SILVER GOLD PLATINUM
1 100% 100% 100%
2 100% 100% 100%
3 100% 100% 100%
EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
[ ] is old law to be omitted.
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