Bill S7446-2013

Exempts property owners from tax increases due to the installation of a wind energy generating system

Exempts property owners from tax increases due to the installation of a wind energy generating system.

Details

Actions

  • May 15, 2014: REFERRED TO LOCAL GOVERNMENT

Memo

BILL NUMBER:S7446

TITLE OF BILL: An act to amend the real property tax law, in relation to exempting property owners from tax increases when installing a wind energy system on or after January 1, 2016

PURPOSE: Exempts property owners from tax increases due to the installation of a wind energy generating system

SUMMARY OF PROVISIONS:

Section 1 amends subdivision 5 of section 487 of the real property tax law, as amended by chapter 366 of the laws of 2010, to exempt tax increases when installing a wind energy system constructed on residential, commercial, or agricultural property on or after January 1, 2016

Section 2- provides that this act shall take effect immediately

JUSTIFICATION: This legislation will modify the Real Property Tax law regarding real property, which includes a wind energy system. Currently there is a fifteen-year real property tax exemption for anyone who installs a wind energy system. 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 saves residents money by providing clean free energy. This legislation will permanently eliminate the increase to real property tax, which will provide further incentive for the market of individual wind energy production and sustainability.

LEGISLATIVE HISTORY: This is a new bill.

LOCAL FISCAL IMPLICATIONS: None

EFFECTIVE DATE: This act shall take effect immediately.


Text

STATE OF NEW YORK ________________________________________________________________________ 7446 IN SENATE May 15, 2014 ___________
Introduced by Sen. GIPSON -- 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 exempting property owners from tax increases when installing a wind energy system 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) WIND ENERGY SYSTEMS CONSTRUCTED ON RESIDENTIAL, COMMERCIAL OR AGRI- CULTURAL PROPERTY ON OR AFTER JANUARY FIRST, TWO THOUSAND SIXTEEN. S 2. This act shall take effect immediately.

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