senate Bill S7711

Signed By Governor
2011-2012 Legislative Session

Provides for the amount of tax abatement for solar generating systems in cities of one million or more

download bill text pdf

Sponsored By

Archive: Last Bill Status Via A10620 - Signed by Governor


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

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Actions

view actions (9)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Aug 17, 2012 signed chap.401
Aug 06, 2012 delivered to governor
Jun 21, 2012 returned to assembly
passed senate
3rd reading cal.1519
substituted for s7711
Jun 21, 2012 substituted by a10620
ordered to third reading cal.1519
Jun 14, 2012 referred to rules

S7711 - Details

See Assembly Version of this Bill:
A10620
Law Section:
Real Property Tax Law
Laws Affected:
Amd ยงยง499-bbbb & 499-cccc, RPT L

S7711 - Summary

Provides for the amount of tax abatement for solar generating systems in cities of one million or more.

S7711 - Sponsor Memo

S7711 - Bill Text download pdf

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

                                  7711

                            I N  S E N A T E

                              June 14, 2012
                               ___________

Introduced  by  Sen.  LANZA  -- read twice and ordered printed, and when
  printed to be committed to the Committee on Rules

AN ACT to amend the real property tax law, in relation to a solar  elec-
  tric  generating system tax abatement for certain properties in a city
  of one million or more persons

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

  Section  1. Subdivision 1 of section 499-bbbb of the real property tax
law, as added by chapter 473 of the laws of 2008, is amended to read  as
follows:
  1. The amount of such tax abatement shall be as follows:
  (a) if the solar electric generating system is placed in service on or
after  the  effective  date  of this title and before January first, two
thousand eleven, for each year of the compliance period such tax  abate-
ment  shall  be  the  lesser  of  (i) eight and three-fourths 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
  (b) if the solar electric generating system is placed in service on or
after January first, two thousand eleven, and before January first,  two
thousand  thirteen,  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 paya-
ble in such tax year, or (iii) sixty-two thousand five hundred  dollars;
OR
  (C) IF THE SOLAR ELECTRIC GENERATING SYSTEM IS PLACED IN SERVICE ON OR
AFTER  JANUARY  FIRST,  TWO THOUSAND THIRTEEN, AND BEFORE JANUARY FIRST,
TWO THOUSAND FIFTEEN, FOR EACH YEAR OF THE COMPLIANCE  PERIOD  SUCH  TAX
ABATEMENT  SHALL  BE  THE  LESSER  OF (I) TWO AND FIVE-TENTHS 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.

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD16199-01-2

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