Senate Bill S5458

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   5458
 
                        2017-2018 Regular Sessions
 
                             I N  S E N A T E
 
                              March 29, 2017
                                ___________
 
 Introduced  by  Sen.  PARKER -- read twice and ordered printed, and when
   printed to be committed to the Committee on Investigations and Govern-
   ment Operations
 
 AN ACT to amend the tax law, in relation  to  credits  against  tax  for
   homeowners and businesses who invest in green infrastructure

   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)  CREDIT FOR HOMEOWNERS AND BUSINESSES TO INVEST IN GREEN INFRAS-
 TRUCTURE. (1) HOMEOWNERS WHO CONSTRUCT GREEN INFRASTRUCTURE AS  PART  OF
 THEIR  REAL  PROPERTY,  DURING  THE  TAXABLE  YEAR, SHALL BE ELIGIBLE TO
 RECEIVE  A  TAX  CREDIT  FOR  UP  TO  FIFTY  PERCENT  OF  THE  COST   OF
 CONSTRUCTION, NOT EXCEEDING FIVE THOUSAND DOLLARS.
   (2)  BUSINESSES  WHO  CONSTRUCT  GREEN INFRASTRUCTURE AS PART OF THEIR
 REAL PROPERTY, DURING THE TAXABLE YEAR, SHALL BE ELIGIBLE TO  RECEIVE  A
 TAX  CREDIT  FOR  UP  TO  FIFTY PERCENT OF THE COST OF CONSTRUCTION, NOT
 EXCEEDING FIVE THOUSAND DOLLARS.
   (3) FOR PURPOSES OF THIS SUBSECTION, THE FOLLOWING  DEFINITIONS  SHALL
 APPLY:
   (A)  "HOMEOWNER"  IS DEFINED AS A NEW YORK RESIDENT FOR THE PAST TWEN-
 TY-FOUR MONTHS AND WHO OWNS A SINGLE FAMILY OR MULTI-FAMILY DWELLING FOR
 RESIDENTIAL PURPOSES WITHIN NEW YORK STATE.
   (B) "BUSINESS" SHALL MEAN ANY BUSINESS WHOSE PRINCIPAL PLACE OF  BUSI-
 NESS IS LOCATED IN NEW YORK STATE, AND HAS BEEN LOCATED IN THE STATE FOR
 THE PREVIOUS THIRTY-SIX MONTHS.
   (C)  "GREEN  INFRASTRUCTURE"  SHALL MEAN ANY COST-EFFECTIVE, RESILIENT
 APPROACH TO MANAGING WET WEATHER IMPACTS THAT  PROVIDES  MANY  COMMUNITY
 BENEFITS.  FOR EXAMPLE, WHILE SINGLE-PURPOSE GRAY STORMWATER INFRASTRUC-
 TURE, CONVENTIONAL  PIPED  DRAINAGE  AND  WATER  TREATMENT  SYSTEMS  ARE
 DESIGNED TO MOVE URBAN STORMWATER AWAY FROM THE BUILT ENVIRONMENT, GREEN
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
              

                                                            LBD01557-01-7

 S. 5458                             2
 
 INFRASTRUCTURE  REDUCES AND TREATS STORMWATER AT ITS SOURCE WHILE DELIV-
 ERING ENVIRONMENTAL, SOCIAL AND ECONOMIC BENEFITS.  GREEN INFRASTRUCTURE
 SHALL INCLUDE BUT NOT BE LIMITED TO DOWNSPOUT  DISCONNECTION,  RAINWATER
 HARVESTING,  RAIN GARDENS, PLANTER BOXES, PERMEABLE PAVEMENTS, AND GREEN
 ROOFS.
   (D) "DOWNSPOUT DISCONNECTION" SHALL MEAN  A  PRACTICE  WHICH  REROUTES
 ROOFTOP  DRAINAGE  PIPES FROM DRAINING RAINWATER INTO THE STORM SEWER TO
 DRAINING IT INTO RAIN BARRELS, CISTERNS, OR PERMEABLE AREAS.
   (E) "RAINWATER HARVESTING" SHALL MEAN  A  SYSTEM  WHICH  COLLECTS  AND
 STORES  RAINFALL  FOR LATER USE.  WHEN DESIGNED APPROPRIATELY, THEY SLOW
 AND REDUCE RUNOFF AND PROVIDE A SOURCE OF WATER.
   (F) "RAIN GARDENS" SHALL MEAN VERSATILE FEATURES THAT CAN BE INSTALLED
 IN ALMOST ANY UNPAVED SPACE. ALSO KNOWN AS BIORETENTION OR  BIOINFILTRA-
 TION  CELLS, RAIN GARDENS ARE SHALLOW, VEGETATED BASINS THAT COLLECT AND
 ABSORB RUNOFF FROM  ROOFTOPS,  SIDEWALKS,  AND  STREETS.  THIS  PRACTICE
 MIMICS  NATURAL HYDROLOGY BY INFILTRATING, AND EVAPORATING AND TRANSPIR-
 ING, OR "EVAPOTRANSPIRING," STORMWATER RUNOFF.
   (G) "PLANTER BOXES" SHALL MEAN URBAN RAIN GARDENS WITH VERTICAL  WALLS
 AND  EITHER  OPEN OR CLOSED BOTTOMS. THEY COLLECT AND ABSORB RUNOFF FROM
 SIDEWALKS, PARKING LOTS AND STREETS  AND  ARE  IDEAL  FOR  SPACE-LIMITED
 SITES IN DENSE URBAN AREAS AND AS A STREETSCAPING ELEMENT.
   (H) "PERMEABLE PAVEMENTS" SHALL MEAN PAVEMENTS WHICH INFILTRATE, TREAT
 AND/OR  STORE  RAINWATER  WHERE  IT FALLS. SUCH PAVEMENTS CAN BE MADE OF
 PERVIOUS CONCRETE, POROUS ASPHALT,  OR  PERMEABLE  INTERLOCKING  PAVERS.
 THIS PRACTICE COULD BE PARTICULARLY COST EFFECTIVE WHERE LAND VALUES ARE
 HIGH AND FLOODING OR ICING IS A PROBLEM.
   (I)  "GREEN  ROOFS"  SHALL  MEAN  ROOFS COVERED WITH GROWING MEDIA AND
 VEGETATION THAT ENABLE RAINFALL INFILTRATION AND  EVAPOTRANSPIRATION  OF
 STORED  WATER. SUCH ROOFS ARE PARTICULARLY COST-EFFECTIVE IN DENSE URBAN
 AREAS WHERE LAND VALUES ARE HIGH  AND  ON  LARGE  INDUSTRIAL  OR  OFFICE
 BUILDINGS WHERE STORMWATER MANAGEMENT COSTS ARE LIKELY TO BE HIGH.
   §  2. Section 210-B of the tax law is amended by adding a new subdivi-
 sion 52 to read as follows:
   52. GREEN INFRASTRUCTURE TAX  CREDIT.  (A)  A  QUALIFIED  BUSINESS  AS
 DEFINED  BY  SUBSECTION (CCC) OF SECTION SIX HUNDRED SIX OF THIS CHAPTER
 SHALL BE ENTITLED TO A CREDIT AGAINST TAX IMPOSED BY THIS ARTICLE.   THE
 AMOUNT  OF  THE  CREDIT  SHALL  BE  UP  TO  FIFTY PERCENT OF THE COST OF
 CONSTRUCTION, NOT EXCEEDING FIVE THOUSAND DOLLARS.
   (B) CARRYOVER. THE CREDIT ALLOWED UNDER THIS SUBDIVISION FOR ANY TAXA-
 BLE YEAR SHALL NOT REDUCE THE TAX DUE FOR THAT YEAR  TO  LESS  THAN  THE
 AMOUNT  PRESCRIBED  IN  PARAGRAPH  (D) OF SUBDIVISION ONE OF SECTION TWO
 HUNDRED TEN OF THIS ARTICLE. HOWEVER, IF THE AMOUNT  OF  CREDIT  ALLOWED
 UNDER  THIS  SUBDIVISION  FOR  ANY  TAXABLE YEAR REDUCES THE TAX TO SUCH
 AMOUNT, OR IF THE TAXPAYER OTHERWISE PAYS TAX BASED ON THE FIXED  DOLLAR
 MINIMUM AMOUNT, ANY AMOUNT OF CREDIT THUS NOT DEDUCTIBLE IN THAT TAXABLE
 YEAR WILL BE TREATED AS AN OVERPAYMENT OF TAX TO BE CREDITED OR REFUNDED
 IN  ACCORDANCE WITH THE PROVISIONS OF SECTION ONE THOUSAND EIGHTY-SIX OF
 THIS CHAPTER.  PROVIDED, HOWEVER, THE PROVISIONS OF  SUBSECTION  (C)  OF
 SECTION  ONE  THOUSAND  EIGHTY-EIGHT OF THIS CHAPTER NOTWITHSTANDING, NO
 INTEREST WILL BE PAID THEREON.
   § 3. This act shall take effect immediately and shall apply to taxable
 years commencing on and after such date.