Assembly Actions - Lowercase Senate Actions - UPPERCASE |
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Jun 11, 2012 | referred to real property taxation delivered to assembly passed senate |
Jun 04, 2012 | advanced to third reading |
May 31, 2012 | 2nd report cal. |
May 30, 2012 | 1st report cal.959 |
May 02, 2012 | reported and committed to finance |
Mar 08, 2012 | referred to local government |
senate Bill S6664
Sponsored By
Mark Grisanti
(R, IP) 0 Senate District
Archive: Last Bill Status - Passed Senate
- Introduced
- In Committee
- On Floor Calendar
- Passed Senate
- Passed Assembly
- Delivered to Governor
- Signed/Vetoed by Governor
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Votes
Co-Sponsors
Michael H. Ranzenhofer
(R, C, IP) 0 Senate District
S6664 (ACTIVE) - Details
S6664 (ACTIVE) - Sponsor Memo
BILL NUMBER:S6664 TITLE OF BILL: An act to amend the real property tax law, in relation to establishing a green development home tax exemption PURPOSE: This legislation would allow a tax exemption for real property tax exemption of thirty five percent for a period of no longer than twenty years if authorized by the local municipality. SUMMARY OF SPECIFIC PROVISIONS: Section 1 creates the Green development home tax exemption which would be a thirty five percent exemption for a period of no longer than twenty years. This section provides that such an incentive shall be at local option. This section further provides that such homes shall be 1, 2, 3 story homes are designated a green development or are LEED-ND certified. Further this section specifies what national standards must be meet in order to be eligible to qualify for the benefit. Section 2 is the effective date. JUSTIFICATION: In order to facilitate growth in the green home market an incentive is needed as these homes typically cost more than the
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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