S T A T E O F N E W Y O R K
________________________________________________________________________
8355
2023-2024 Regular Sessions
I N A S S E M B L Y
December 13, 2023
___________
Introduced by M. of A. CARROLL -- read once and referred to the Commit-
tee on Real Property Taxation
AN ACT to amend the real property tax law, in relation to providing for
a direct-pay tax abatement credit for solar electric generating
systems and electric energy storage systems in connection with eligi-
ble buildings
THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:
Section 1. Section 499-bbbb of the real property tax law is amended by
adding a new subdivision 5 to read as follows:
5. NOTWITHSTANDING ANY LIMITATIONS OR RESTRICTIONS ESTABLISHED WITHIN
THIS SECTION OR ANY LOCAL LAW OR RESOLUTION, ANY ELIGIBLE BUILDING THAT
IS OWNED BY A CORPORATION, ASSOCIATION, ORGANIZATION OR TRUST DESCRIBED
IN SECTION 501(C)(3) OF THE UNITED STATES INTERNAL REVENUE CODE, INCOR-
PORATED UNDER ARTICLE TWO, FOUR, FIVE, OR ELEVEN OF THE PRIVATE HOUSING
FINANCE LAW, OR IS AN INCOME-RESTRICTED AFFORDABLE HOUSING PROPERTY,
INCLUDING BUT NOT LIMITED TO PROPERTIES WITH REGULATORY AGREEMENTS WITH
THE NEW YORK CITY DEPARTMENT OF HOUSING PRESERVATION AND DEVELOPMENT,
NEW YORK CITY HOUSING DEVELOPMENT CORPORATION, NEW YORK STATE DEPARTMENT
OF HOUSING AND COMMUNITY RENEWAL, OR THE UNITED STATES DEPARTMENT OF
HOUSING AND URBAN DEVELOPMENT, SHALL BE ELIGIBLE FOR A DIRECT-PAY CREDIT
EQUAL TO THE MONETARY VALUE OF THE ABATEMENT AS CALCULATED IN PARAGRAPH
(F) OF SUBDIVISION ONE OF THIS SECTION. SUCH DIRECT-PAY CREDIT SHALL BE
ISSUED TO THE ELIGIBLE BUILDING OWNER BY THE DEPARTMENT OF FINANCE IN
THE FORM OF A CHECK IRRESPECTIVE OF THE AMOUNT OF TAXES PAYABLE IN SUCH
TAX YEAR.
§ 2. The section heading and subdivisions 1, 4, 5 and 6 of section
499-cccc of the real property tax law, the section heading and subdivi-
sions 4, 5 and 6 as added by chapter 473 of the laws of 2008, subdivi-
sion 1 as amended by chapter 485 of the laws of 2023, are amended to
read as follows:
EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD13650-01-3
A. 8355 2
Application for tax abatement OR DIRECT-PAY CREDIT. 1. To obtain a tax
abatement OR DIRECT-PAY CREDIT pursuant to this title, an applicant must
file an application for tax abatement, which may be filed on or after
January first, two thousand nine, and on or before January first, two
thousand thirty-six.
4. An application for tax abatement OR DIRECT-PAY CREDIT shall be in
any format prescribed by a designated agency, including electronic form.
5. An application for tax abatement OR DIRECT-PAY CREDIT shall be
approved by a designated agency upon determining that the applicant has
submitted proof acceptable to such agency that the requirements for
obtaining a tax abatement OR DIRECT-PAY CREDIT pursuant to this title
and the rules promulgated hereunder have been met. The burden of proof
shall be on the applicant to show by clear and convincing evidence that
the requirements for granting a tax abatement OR DIRECT-PAY CREDIT have
been satisfied.
6. Upon notification from a designated agency that an application for
tax abatement OR DIRECT-PAY CREDIT has been approved, the department of
finance shall apply the tax abatement OR DIRECT-PAY CREDIT, provided
there are no outstanding real estate taxes, water and sewer charges,
payments in lieu of taxes or other municipal charges with respect to the
eligible building.
§ 3. This act shall take effect immediately.