Senate Bill S10365

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   10365
 
                             I N  S E N A T E
 
                               May 15, 2026
                                ___________
 
 Introduced  by  Sen.  LIU  --  read  twice and ordered printed, and when
   printed to be committed to the Committee on Cities 1
 
 AN ACT to amend the real property tax  law,  in  relation  to  extending
   certain  deadlines for   purposes   of  the  green  roof tax abatement
   for certain properties in a city of one  million or more persons

   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section  1.  Paragraphs  (b),  (c) and (d) of subdivision 1 of section
 499-bbb of the real property tax law, as amended by chapter 154  of  the
 laws of 2024, are amended to read as follows:
   (b) The total amount of such tax abatement commencing on or after July
 first, two thousand fourteen and ending on or before June thirtieth, two
 thousand [twenty-seven] THIRTY-ONE, shall be ten dollars per square foot
 of  a  green roof pursuant to an approved application for tax abatement;
 provided, however, that the amount  of  such  tax  abatement  shall  not
 exceed  two  hundred  thousand dollars. To the extent the amount of such
 tax abatement exceeds the total tax  liability  in  any  tax  year,  any
 remaining  amount  may be applied to the tax liability in succeeding tax
 years, provided that such abatement must be applied within five years of
 the tax year in which the tax abatement was initially taken.
   (c)  Notwithstanding  paragraph  (b)  of  this  subdivision,  property
 located   within   specifically   designated  New  York  city  community
 districts, selected by an agency designated by the mayor of the city  of
 New  York pursuant to subdivision five of this section, shall receive an
 enhanced tax abatement for any green roof.  The  total  amount  of  such
 enhanced  tax  abatement commencing on or after July first, two thousand
 nineteen and ending on or before June thirtieth, two  thousand  [twenty-
 seven]  THIRTY-ONE,  shall be fifteen dollars per square foot of a green
 roof pursuant to an approved application  for  enhanced  tax  abatement:
 provided,  however, that the amount of such enhanced tax abatement shall
 not exceed two hundred thousand dollars. To the  extent  the  amount  of
 such  enhanced  tax abatement exceeds the total tax liability in any tax
 year, any remaining amount may  be  applied  to  the  tax  liability  in
 succeeding tax years, provided that such abatement must be applied with-
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
              

                                                            LBD15889-01-6
 S. 10365                            2
 
 in  five  years of the tax year in which the tax abatement was initially
 taken.
   (d)  Notwithstanding  paragraph  (b)  or  (c) of this subdivision, the
 aggregate amount of tax abatements allowed under  this  subdivision  for
 the  tax  year  commencing  July first, two thousand fourteen and ending
 June thirtieth, two thousand fifteen shall be a maximum of seven hundred
 fifty thousand dollars, and  the  aggregate  amount  of  tax  abatements
 allowed  under  this subdivision for any tax year commencing on or after
 July first, two thousand fifteen and ending on or before June thirtieth,
 two thousand [twenty-seven]  THIRTY-ONE  shall  be  a  maximum  of  four
 million  dollars. No tax abatements shall be allowed under this subdivi-
 sion for any tax year commencing on or after July  first,  two  thousand
 [twenty-seven] THIRTY-ONE.
   § 2. Subdivision 1 of section 499-ccc of the real property tax law, as
 amended  by  chapter  154  of  the  laws  of 2024, is amended to read as
 follows:
   1. To obtain a tax abatement 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 March fifteenth, two
 thousand [twenty-six] THIRTY.
   § 3. This act shall take effect immediately.