Relates to exemptions for improvements to real property meeting certification standards for green buildings.

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S2034-2013 Actions

• Mar 5, 2013: SUBSTITUTED BY A2080
• Mar 4, 2013: ADVANCED TO THIRD READING
• Feb 28, 2013: 2ND REPORT CAL.
• Feb 27, 2013: 1ST REPORT CAL.93
• Jan 9, 2013: REFERRED TO HOUSING, CONSTRUCTION AND COMMUNITY DEVELOPMENT

S2034-2013 Meetings

Housing, Construction and Community Development: Feb 27, 2013

S2034-2013 Calendars

Active List: Mar 5, 2013 , Floor Calendar: Feb 28, 2013 , Floor Calendar: Mar 4, 2013 , Floor Calendar: Mar 5, 2013

S2034-2013 Votes

S2034-2013 Memo

BILL NUMBER:S2034

TITLE  OF BILL:   An act to amend the real property tax law, in relation
to exemptions for improvements to real  property  meeting  certification
standards for green buildings

PURPOSE:  To  authorize  municipal  corporations  to establish a maximum
exemption amount for an exemption  for  improvements  to  real  property
meeting LEED certification standards for green buildings.

SUMMARY  OF  SPECIFIC  PROVISIONS:  This  bill would authorize municipal
corporations that adopt the provisions of Section 470 of the Real  Prop-
erty  Tax  Law to provide an exemption for improvements to real property
meeting LEED certification standards for green buildings, to  include  a
maximum exemption amount in its local law, ordinance or resolution.

JUSTIFICATION:  Section  470  of  the  Real  Property Tax Law authorizes
municipal corporations to provide an  exemption  to  certain  properties
meeting  LEED  certification standards for green buildings. This section
provides a set benefit schedule. Several localities  have  expressed  an
interest  in  adopting the provisions of this section, but are concerned
that it would be too costly. This bill would make clear  that  municipal
corporations  have  the  ability  to  limit  the exemption to a specific
dollar amount, allowing them to limit the cost of the program.

LEGISLATIVE HISTORY: New Legislation, 2013.

FISCAL IMPLICATIONS: None to the State.

EFFECTIVE DATE: Immediately.

S2034-2013 Text

                      S T A T E   O F   N E W   Y O R K
  ________________________________________________________________________

      S. 2034                                                  A. 2080

                         2013-2014 Regular Sessions

                        SENATE - ASSEMBLY

                                 (PREFILED)

                               January 9, 2013
                                 ___________

  IN SENATE -- Introduced by Sen. LAVALLE -- read twice and ordered print-
    ed,  and  when  printed  to  be committed to the Committee on Housing,
    Construction and Community Development

  IN ASSEMBLY -- Introduced by M. of A. THIELE -- read once  and  referred
    to the Committee on Real Property Taxation

  AN ACT to amend the real property tax law, in relation to exemptions for
    improvements  to  real  property  meeting  certification standards for
    green buildings

    THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
  BLY, DO ENACT AS FOLLOWS:


    Section  1. Subdivision 2 of section 470 of the real property tax law,
  as added by chapter 188 of the laws of  2012,  is  amended  to  read  as
  follows:

    2.  Such real property, or portion thereof, which is certified under a
  LEED certification standard for the  categories  of  certified,  silver,
  gold or platinum as meeting green building standards, as determined by a
  LEED  accredited  professional shall be exempt as provided below for the
  respective percentages provided that A MUNICIPAL CORPORATION MAY  ESTAB-
  LISH  A  MAXIMUM  EXEMPTION AMOUNT IN ITS LOCAL LAW, ORDINANCE OR RESOL-
  UTION, AND PROVIDED FURTHER, a copy of  the  LEED  certification  for  a
  qualified  category  is filed with the assessor's office and is approved
  by the assessor as meeting the requirements  of  this  section  and  the
  municipal   corporation's  local  law,  ordinance  or  resolution.  Such
  exemption shall be to the extent  of  any  increase  in  assessed  value
  resulting  from the construction or reconstruction of a property meeting
  LEED certification.
                               LEED EXEMPTION
  YEAR      CERTIFIED/SILVER         GOLD      PLATINUM
  1         100%                     100%      100%

   EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                        [ ] is old law to be omitted.
                                                             LBD04302-01-3

 S. 2034                             2                            A. 2080

  2         100%                     100%      100%
  3         100%                     100%      100%
  4         80%                      100%      100%
  5         60%                      80%       100%
  6         40%                      60%       100%
  7         20%                      40%       80%
  8         0%                       20%       60%
  9         0%                       0%        40%
  10        0%                       0%        20%
    S 2. This act shall take effect immediately.