Assembly Bill A6466

2017-2018 Legislative Session

Establishes the green building credit for construction or rehabilitation of property in conformity with certain energy efficiency standards

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Archive: Last Bill Status - In Assembly Committee


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

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2017-A6466 (ACTIVE) - Details

See Senate Version of this Bill:
S1929
Current Committee:
Assembly Ways And Means
Law Section:
Tax Law
Laws Affected:
Amd §606, Tax L
Versions Introduced in Other Legislative Sessions:
2015-2016: S6560
2019-2020: A1319
2021-2022: A4425
2023-2024: A4561

2017-A6466 (ACTIVE) - Summary

Establishes the green building credit for construction or rehabilitation of property in conformity with certain energy efficiency standards.

2017-A6466 (ACTIVE) - Bill Text download pdf

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   6466
 
                        2017-2018 Regular Sessions
 
                           I N  A S S E M B L Y
 
                               March 7, 2017
                                ___________
 
 Introduced by M. of A. STIRPE -- read once and referred to the Committee
   on Ways and Means
 
 AN  ACT  to  amend  the  tax  law, in relation to establishing the green
   building credit
 
   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:

   Section  1.  Section  606  of  the  tax law is amended by adding a new
 subsection (ccc) to read as follows:
   (CCC) GREEN BUILDING CREDIT. (1) ALLOWANCE OF CREDIT. A TAXPAYER SHALL
 BE ALLOWED A CREDIT AGAINST THE TAX IMPOSED  BY  THIS  ARTICLE  PROVIDED
 THAT  SUCH  TAXPAYER  CONSTRUCTS OR REHABILITATES QUALIFYING RESIDENTIAL
 REAL PROPERTY IN CONFORMITY WITH ENERGY EFFICIENCY STANDARDS ESTABLISHED
 BY THE NATIONAL ASSOCIATION OF HOME BUILDERS OR THE LEADERSHIP IN ENERGY
 AND ENVIRONMENTAL DESIGN RATING SYSTEM DEVELOPED BY  THE  UNITED  STATES
 GREEN  BUILDING  COUNCIL  AND  FASHIONS PROOF THEREOF IN ACCORDANCE WITH
 RULES AND REGULATIONS PROMULGATED BY THE COMMISSIONER OF THE  DEPARTMENT
 OF ENVIRONMENTAL CONSERVATION IN CONJUNCTION WITH THE COMMISSIONER.
   (2)  AMOUNT  OF CREDIT. THE AMOUNT OF THE CREDIT SHALL BE EQUAL TO THE
 ALLOWABLE COSTS PAID OR INCURRED BY THE  TAXPAYER,  IF  THE  OWNER,  FOR
 EITHER THE CONSTRUCTION OR REHABILITATION OF QUALIFYING RESIDENTIAL REAL
 PROPERTY  IN  CONFORMITY WITH ENERGY EFFICIENCY STANDARDS ESTABLISHED BY
 THE NATIONAL ASSOCIATION OF HOME BUILDERS OR THE  LEADERSHIP  IN  ENERGY
 AND  ENVIRONMENTAL  DESIGN  RATING SYSTEM DEVELOPED BY THE UNITED STATES
 GREEN BUILDING COUNCIL; PROVIDED, HOWEVER, THAT SUCH  CREDIT  SHALL  NOT
 EXCEED TEN THOUSAND DOLLARS AND SHALL NOT BE AWARDED MORE THAN ONCE IN A
 PERIOD OF TEN YEARS.
   (3)  FOR  THE  PURPOSE  OF  THIS  SUBSECTION,  "ALLOWABLE COSTS" MEANS
 AMOUNTS PROPERLY CHARGEABLE TO AN ACCOUNT (OTHER THAN FOR  LAND),  WHICH
 ARE  PAID OR INCURRED ON OR AFTER JANUARY FIRST, TWO THOUSAND SEVENTEEN,
 FOR:  CONSTRUCTION OR REHABILITATION; COMMISSIONING COSTS; INTEREST PAID
 OR INCURRED DURING THE CONSTRUCTION  OR  REHABILITATION  PERIOD;  LEGAL,
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
              

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