Exempts a homeowner from any tax increases when installing a solar energy system on their home.
BILL NUMBER:S2529A REVISED 6/7/13
TITLE OF BILL: An act to amend the real property tax law, in relation to exempting a homeowner from tax increases when installing a solar energy system on certain homes on or after January 1, 2016
PURPOSE: To exempt a homeowner from any property tax increase after installation of a solar energy system on their home, if the locality concurs
SUMMARY OF PROVISIONS: Section 1 of the Real Property Tax law is amended to allow solar energy systems constructed on one, two, three or four family homes on or after January 1, 2016.
Section 2- contains the effective date
JUSTIFICATION: This legislation would modify the Real Property Tax law regarding real property which includes a solar energy system, wind energy system and farm waste system. Currently, there is a fifteen year real property tax increase exemption for anyone who installs the aforementioned systems. These structures provide positive benefits to the environment, a reduction in pollution caused by power plants striving to meet the needs of the local energy demand, reduces the demand of foreign oil and save residents money by providing clean free energy. This legislation will permanently eliminate the increase to real property taxes which will provide further incentive for the market of individual alternative energy production and sustainability. Localities are still allowed the right to not provide this exemption.
LEGISLATIVE HISTORY: 2011-12: A. 3544 Real Property; S. 3409 Local Governments 2009-10: A.4896/Real Property; S.4915/Local Govt/Finance/Rules 2008:A.11203/Real Property
FISCAL IMPLICATIONS: None
EFFECTIVE DATE: This act shall take immediately.
STATE OF NEW YORK ________________________________________________________________________ 2529--A 2013-2014 Regular Sessions IN SENATE January 18, 2013 ___________Introduced by Sens. MARCELLINO, GIPSON -- read twice and ordered print- ed, and when printed to be committed to the Committee on Local Govern- ment -- committee discharged, bill amended, ordered reprinted as amended and recommitted to said committee AN ACT to amend the real property tax law, in relation to exempting a homeowner from tax increases when installing a solar energy system on certain homes on or after January 1, 2016 THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Subdivision 5 of section 487 of the real property tax law, as amended by chapter 366 of the laws of 2010, is amended to read as follows: 5. The exemption granted pursuant to this section shall only be appli- cable to solar or wind energy systems or farm waste energy systems which are (a) existing or constructed prior to July first, nineteen hundred eighty-eight
[or], (b) constructed subsequent to January first, nineteen hundred ninety-one and prior to January first, two thousand fifteen OR (C) SOLAR ENERGY SYSTEMS CONSTRUCTED ON ONE, TWO, THREE OR FOUR FAMILY HOMES ON OR AFTER JANUARY FIRST, TWO THOUSAND SIXTEEN. S 2. This act shall take effect immediately.EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD04147-02-3