Bill S6664-2011

Establishes a green development home tax exemption

Establishes a green development home tax exemption authorizing a 35% exemption from local real property taxation for homes that are part of green developments as LEED certified or certified by the national association of home builders.

Details

Actions

  • Jun 11, 2012: referred to real property taxation
  • Jun 11, 2012: DELIVERED TO ASSEMBLY
  • Jun 11, 2012: PASSED SENATE
  • Jun 4, 2012: ADVANCED TO THIRD READING
  • May 31, 2012: 2ND REPORT CAL.
  • May 30, 2012: 1ST REPORT CAL.959
  • May 2, 2012: REPORTED AND COMMITTED TO FINANCE
  • Mar 8, 2012: REFERRED TO LOCAL GOVERNMENT

Votes

VOTE: COMMITTEE VOTE: - Local Government - May 2, 2012
Ayes (7): Martins, Ball, McDonald, Ritchie, Stewart-Cousins, Oppenheimer, Klein
Ayes W/R (1): Little

Memo

BILL NUMBER:S6664

TITLE OF BILL: An act to amend the real property tax law, in relation to establishing a green development home tax exemption

PURPOSE: This legislation would allow a tax exemption for real property tax exemption of thirty five percent for a period of no longer than twenty years if authorized by the local municipality.

SUMMARY OF SPECIFIC PROVISIONS: Section 1 creates the Green development home tax exemption which would be a thirty five percent exemption for a period of no longer than twenty years. This section provides that such an incentive shall be at local option. This section further provides that such homes shall be 1, 2, 3 story homes are designated a green development or are LEED-ND certified. Further this section specifies what national standards must be meet in order to be eligible to qualify for the benefit. Section 2 is the effective date.

JUSTIFICATION: In order to facilitate growth in the green home market an incentive is needed as these homes typically cost more than the average new home. In order to qualify for this incentive a new home will have to meet specific National Association of Home Builders (NAHB) or Leadership in Energy and Environmental Design (LEED). Specific of these standards that these homes will have to meet include but are not limited: protection of high value vegetation, improved soil, low or no VOC finishes, rain barrels at down spouts, recycled content building materials must be used as 2 major components, built in recycling collection space, renewable energy sources per house, energy star rating of 3.0 or higher, low flow showers and toilets, green certified products must be used. These are a few examples.

PRIOR LEGISLATIVE HISTORY: New Bill.

FISCAL IMPLICATIONS: None.

EFFECTIVE DATE: This act shall take effect on the one hundred twentieth day after it shall have become a law. Effective immediately, the addition, amendment and/or repeal of any rule or regulation necessary for the implementation of this act on its effective date is authorized to be made on or before such date.


Text

STATE OF NEW YORK ________________________________________________________________________ 6664 IN SENATE March 8, 2012 ___________
Introduced by Sen. GRISANTI -- read twice and ordered printed, and when printed to be committed to the Committee on Local Government AN ACT to amend the real property tax law, in relation to establishing a green development home tax exemption THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. The real property tax law is amended by adding a new section 431 to read as follows: S 431. GREEN DEVELOPMENT HOME TAX EXEMPTION. 1. THE LOCAL LEGISLATIVE BODY OF ANY CITY, TOWN OR VILLAGE IS HEREBY AUTHORIZED AND EMPOWERED TO ADOPT AND AMEND A LOCAL LAW TO PROVIDE THAT ANY REAL PROPERTY WHICH SATISFIES THE REQUIREMENTS OF SUBDIVISION TWO OF THIS SECTION SHALL BE GRANTED A REDUCED REAL PROPERTY TAX RATE AS SET FORTH IN SUBDIVISION THREE OF THIS SECTION. 2. SUCH LOCAL LAW SHALL PROVIDE THAT FOR REAL PROPERTY TO QUALIFY FOR THE EXEMPTION SET FORTH IN SUBDIVISION THREE OF THIS SECTION, SUCH REAL PROPERTY SHALL BE A ONE, TWO OR THREE FAMILY RESIDENCE AND PART OF A DEVELOPMENT THAT: (A) IS EITHER (I) A GREEN DEVELOPMENT OR (II) LEED-ND CERTIFIED; AND (B) CONTAINS HOMES, SEVENTY-FIVE PERCENT OF WHICH ARE CERTIFIED SILVER. 3. SUCH LOCAL LAW SHALL PROVIDE THAT REAL PROPERTY THAT SATISFIES THE CRITERIA SET FORTH IN SUBDIVISION TWO OF THIS SECTION SHALL BE PARTIALLY EXEMPT FROM LOCAL REAL PROPERTY TAXATION FOR A PERIOD NOT TO EXCEED TWENTY YEARS IN THE AGGREGATE AFTER THE TAXABLE STATUS DATE IMMEDIATELY FOLLOWING THE SATISFACTION THEREOF, AS FOLLOWS: EXEMPTION FROM THIRTY-FIVE PERCENT OF SUCH TAXATION. 4. (A) UPON SUCCESSFUL LEED CERTIFICATION OR NAHB CERTIFICATION, A DEVELOPER SHALL NOTIFY THE TAX ASSESSOR OF ANY ASSESSING UNIT THAT SUCH DEVELOPMENT SATISFIES THE REQUIREMENTS SET FORTH IN SUBDIVISION TWO OF THIS SECTION AND THAT ALL REAL PROPERTY LOCATED WITHIN SUCH DEVELOPMENT SHALL BE GRANTED A REDUCED REAL PROPERTY TAX RATE AS SET FORTH IN SUBDI- VISION THREE OF THIS SECTION.
(B) AN EXEMPTION GRANTED PURSUANT TO THIS SECTION SHALL COMMENCE AS OF THE DATE OF THE NOTIFICATION OF THE TAX ASSESSOR, AND SHALL TERMINATE UPON THE EXPIRATION OR TERMINATION OF THE CERTIFICATIONS REQUIRED PURSU- ANT TO SUBDIVISION TWO OF THIS SECTION. 5. FOR THE PURPOSES OF THIS SECTION, THE FOLLOWING TERMS SHALL HAVE THE FOLLOWING MEANINGS: (A) "CERTIFIED SILVER" SHALL MEAN (I) CERTIFIED BY THE NAHB NATIONAL GREEN BUILDING CERTIFICATION PROGRAM AT A PERFORMANCE POINT LEVEL OF SILVER OR BETTER, OR (II) LEED FOR NEW CONSTRUCTION CERTIFIED SILVER OR BETTER. (B) "DEVELOPMENT" SHALL MEAN A NEIGHBORHOOD OR COMMUNITY OF NEW ONE, TWO OR THREE FAMILY RESIDENCES WHICH SHALL INCLUDE ALL STREETS, LOTS AND COMMON AREAS. (C) "GREEN DEVELOPMENT" SHALL MEAN A DEVELOPMENT WITH A PERFORMANCE POINT LEVEL OF FOUR STARS AS RATED BY THE NAHB. (D) "LEED" SHALL MEAN THE UNITED STATES GREEN BUILDING COUNCIL LEADER- SHIP IN ENERGY AND ENVIRONMENTAL DESIGN RATING SYSTEM. (E) "LEED-ND" SHALL MEAN LEED FOR NEIGHBORHOOD DEVELOPMENT. (F) "NAHB" SHALL MEAN THE NATIONAL ASSOCIATION OF HOME BUILDERS. S 2. This act shall take effect on the one hundred twentieth day after it shall have become a law. Effective immediately, the addition, amend- ment and/or repeal of any rule or regulation necessary for the implemen- tation of this act on its effective date is authorized to be made on or before such date.

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