Provides that the period of probable usefulness of the installation or reconstruction of a boiler system is 15 years for purposes of local financing.
STATE OF NEW YORK ________________________________________________________________________ 10052 IN ASSEMBLY June 10, 2014 ___________Introduced by COMMITTEE ON RULES -- (at request of M. of A. McDonald, Stec) -- read once and referred to the Committee on Local Governments AN ACT to amend the local finance law, in relation to the period of probable usefulness of boiler systems THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Subdivision 13 of paragraph a of section 11.00 of the local finance law, as amended by chapter 837 of the laws of 1945, is amended to read as follows: 13. Certain building alterations. The installation or reconstruction of a heating, lighting, plumbing, ventilating, elevator or power plant or system in a building when not in connection with the original construction or the reconstruction of such building, in a class "A" or "B" building, ten years; in a class "C" building, five years. The terms "class 'A' building," "class 'B' building" and "class 'C' building," as used in this subdivision, shall mean such buildings as they are described in subdivision eleven of this paragraph. PROVIDED, HOWEVER, THAT THE INSTALLATION OR RECONSTRUCTION OF A BOILER SYSTEM IN A BUILD- ING, REGARDLESS OF THE CLASS THEREOF, WHEN NOT IN CONNECTION WITH THE ORIGINAL CONSTRUCTION OR RECONSTRUCTION OF SUCH BUILDING, FIFTEEN YEARS. S 2. This act shall take effect immediately.EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD15064-03-4