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Senate Bill S6664

2011-2012 Legislative Session

Establishes a green development home tax exemption

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Archive: Last Bill Status - In Assembly Committee

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2011-S6664 (ACTIVE) - Details

See Assembly Version of this Bill:
A10739
Current Committee:
Assembly Real Property Taxation
Law Section:
Real Property Tax Law
Laws Affected:
Add ยง431, RPT L
Versions Introduced in Other Legislative Sessions:
2013-2014: S1710, A1253
2015-2016: S5013
2017-2018: S874
2019-2020: S2900
2021-2022: S49

2011-S6664 (ACTIVE) - Summary

Establishes a green development home tax exemption authorizing a 35% exemption from local real property taxation for homes that are part of green developments as LEED certified or certified by the national association of home builders.

2011-S6664 (ACTIVE) - Sponsor Memo

2011-S6664 (ACTIVE) - Bill Text download pdf 

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

                                  6664

                            I N  S E N A T E

                              March 8, 2012
                               ___________

Introduced  by Sen. GRISANTI -- read twice and ordered printed, and when
  printed to be committed to the Committee on Local Government

AN ACT to amend the real property tax law, in relation to establishing a
  green development home tax exemption

  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 431 to read as follows:
  S 431. GREEN DEVELOPMENT HOME TAX EXEMPTION. 1. THE LOCAL  LEGISLATIVE
BODY  OF ANY CITY, TOWN OR VILLAGE IS HEREBY AUTHORIZED AND EMPOWERED TO
ADOPT AND AMEND A LOCAL LAW TO PROVIDE  THAT  ANY  REAL  PROPERTY  WHICH
SATISFIES  THE  REQUIREMENTS OF SUBDIVISION TWO OF THIS SECTION SHALL BE
GRANTED A REDUCED REAL PROPERTY TAX RATE AS  SET  FORTH  IN  SUBDIVISION
THREE OF THIS SECTION.
  2.  SUCH LOCAL LAW SHALL PROVIDE THAT FOR REAL PROPERTY TO QUALIFY FOR
THE EXEMPTION SET FORTH IN SUBDIVISION THREE OF THIS SECTION, SUCH  REAL
PROPERTY  SHALL  BE  A  ONE, TWO OR THREE FAMILY RESIDENCE AND PART OF A
DEVELOPMENT THAT:
  (A) IS EITHER (I) A GREEN DEVELOPMENT OR (II) LEED-ND CERTIFIED; AND
  (B) CONTAINS  HOMES,  SEVENTY-FIVE  PERCENT  OF  WHICH  ARE  CERTIFIED
SILVER.
  3.  SUCH LOCAL LAW SHALL PROVIDE THAT REAL PROPERTY THAT SATISFIES THE
CRITERIA SET FORTH IN SUBDIVISION TWO OF THIS SECTION SHALL BE PARTIALLY
EXEMPT FROM LOCAL REAL PROPERTY TAXATION FOR  A  PERIOD  NOT  TO  EXCEED
TWENTY  YEARS IN THE AGGREGATE AFTER THE TAXABLE STATUS DATE IMMEDIATELY
FOLLOWING  THE  SATISFACTION  THEREOF,  AS   FOLLOWS:   EXEMPTION   FROM
THIRTY-FIVE PERCENT OF SUCH TAXATION.
  4.  (A)  UPON  SUCCESSFUL  LEED CERTIFICATION OR NAHB CERTIFICATION, A
DEVELOPER SHALL NOTIFY THE TAX ASSESSOR OF ANY ASSESSING UNIT THAT  SUCH
DEVELOPMENT  SATISFIES  THE REQUIREMENTS SET FORTH IN SUBDIVISION TWO OF
THIS SECTION AND THAT ALL REAL PROPERTY LOCATED WITHIN SUCH  DEVELOPMENT
SHALL BE GRANTED A REDUCED REAL PROPERTY TAX RATE AS SET FORTH IN SUBDI-
VISION THREE OF THIS SECTION.

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD14826-01-2

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