The New York State Senate

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

                                  10739

                          I N  A S S E M B L Y

                              June 18, 2012
                               ___________

Introduced  by  COMMITTEE ON RULES -- (at request of M. of A. Cahill) --
  read once and referred to the Committee on Real Property Taxation

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

A. 10739                            2

  (B) AN EXEMPTION GRANTED PURSUANT TO THIS SECTION SHALL COMMENCE AS OF
THE  DATE  OF  THE NOTIFICATION OF THE TAX ASSESSOR, AND SHALL TERMINATE
UPON THE EXPIRATION OR TERMINATION OF THE CERTIFICATIONS REQUIRED PURSU-
ANT TO SUBDIVISION TWO OF THIS SECTION.
  5.  FOR  THE  PURPOSES OF THIS SECTION, THE FOLLOWING TERMS SHALL HAVE
THE FOLLOWING MEANINGS:
  (A) "CERTIFIED SILVER" SHALL MEAN (I) CERTIFIED BY THE  NAHB  NATIONAL
GREEN  BUILDING  CERTIFICATION  PROGRAM  AT A PERFORMANCE POINT LEVEL OF
SILVER OR BETTER, OR (II) LEED FOR NEW CONSTRUCTION CERTIFIED SILVER  OR
BETTER.
  (B)  "DEVELOPMENT"  SHALL MEAN A NEIGHBORHOOD OR COMMUNITY OF NEW ONE,
TWO OR THREE FAMILY RESIDENCES WHICH SHALL INCLUDE ALL STREETS, LOTS AND
COMMON AREAS.
  (C) "GREEN DEVELOPMENT" SHALL MEAN A DEVELOPMENT  WITH  A  PERFORMANCE
POINT LEVEL OF FOUR STARS AS RATED BY THE NAHB.
  (D) "LEED" SHALL MEAN THE UNITED STATES GREEN BUILDING COUNCIL LEADER-
SHIP IN ENERGY AND ENVIRONMENTAL DESIGN RATING SYSTEM.
  (E) "LEED-ND" SHALL MEAN LEED FOR NEIGHBORHOOD DEVELOPMENT.
  (F) "NAHB" SHALL MEAN THE NATIONAL ASSOCIATION OF HOME BUILDERS.
  S 2. This act shall take effect on the one hundred twentieth day after
it  shall have become a law. Effective immediately, the addition, amend-
ment and/or repeal of any rule or regulation necessary for the implemen-
tation of this act on its effective date is authorized to be made on  or
before such date.