This bill has been amended

Bill S7464-2013

Provides for the amount of tax abatement for solar generating systems in cities of one million or more

Relates to extending the compliance period during which to obtain a tax abatement for solar electric generating systems.

Details

Actions

  • May 29, 2014: 1ST REPORT CAL.1040
  • May 15, 2014: REFERRED TO CITIES

Meetings

Calendars

Votes

VOTE: COMMITTEE VOTE: - Cities - May 29, 2014
Ayes (6): Lanza, Ball, DeFrancisco, Grisanti, Squadron, Breslin

Memo

BILL NUMBER:S7464

TITLE OF BILL: An act to amend the real property tax law, in relation to the solar electric generating system tax abatement for certain properties in a city of one million or more persons

PURPOSE: This bill would amend subdivision one of section 499-bbbb of the Real Property Tax Law (RPTL) by adding a new paragraph (c) and would amend subdivision one of section 499-ccc of the RPTL.

SUMMARY OF PROVISIONS: If the solar electric generating system is placed in service on or after January 1, 2014 and before January 1, 2017, the amount of the tax abatement would be 5% of eligible solar electric generating system expenditures in each year of the four-year compliance period. However, the benefit in each tax year would be limited to the lesser of the amount of taxes payable or $62,500. "Eligible solar electric generating system expenditures" include reasonable expenditures for materials, labor costs properly allocable to on-site preparation, assembly and original installation, architectural and engineering services, and designs and plans directly related to the construction or installation of the solar electric generating system.

JUSTIFICATION: This legislation would extend and strengthen an existing incentive program to encourage the installation of solar electric generating systems, in connection with class one, class two and class four properties in the City.

This program is aligned with the longstanding commitment of New York State and the City of New York to reduce greenhouse gas emission reduction and providing cleaner, more reliable power for every New Yorker. These goals will be achieved through efforts to improve energy efficiency and clean our energy supply. In the near term, the City will still rely on conventional energy sources, such as natural gas.

Solar power in New York City has historically cost 15 - 20% more per kilowatt of installed capacity than in other parts of the State of New York, primarily because of more stringent requirements of the NYC Department of Buildings and increased complexity in the building sites. Data from the New York State Energy Research and Development Authority indicates that solar energy projects in New York City cost approximately 18% more in 2013 than in the rest of the state. Continuation of the property tax abatement is necessary to offset a portion of the extra costs associated with NYC solar energy installation, thus further stimulating clean energy investment and job creation throughout New York City.

PRIOR LEGISLATIVE HISTORY: New bill

FISCAL IMPLICATIONS: None to the State

EFFECTIVE DATE: This act shall take effect immediately


Text

STATE OF NEW YORK ________________________________________________________________________ 7464 IN SENATE May 15, 2014 ___________
Introduced by Sen. LANZA -- read twice and ordered printed, and when printed to be committed to the Committee on Cities AN ACT to amend the real property tax law, in relation to the solar electric generating system tax abatement for certain properties in a city of one million or more persons THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Subdivision 1 of section 499-bbbb of the real property tax law, as amended by chapter 401 of the laws of 2012, is amended to read as follows: 1. The amount of such tax abatement shall be as follows: (a) if the solar electric generating system is placed in service on or after the effective date of this title and before January first, two thousand eleven, for each year of the compliance period such tax abate- ment shall be the lesser of (i) eight and three-fourths percent of eligible solar electric generating system expenditures, (ii) the amount of taxes payable in such tax year, or (iii) sixty-two thousand five hundred dollars; or (b) if the solar electric generating system is placed in service on or after January first, two thousand eleven, and before January first, two thousand thirteen, for each year of the compliance period such tax abatement shall be the lesser of (i) five percent of eligible solar electric generating system expenditures, (ii) the amount of taxes paya- ble in such tax year, or (iii) sixty-two thousand five hundred dollars; or (c) if the solar electric generating system is placed in service on or after January first, two thousand thirteen, and before January first, two thousand [fifteen] FOURTEEN, for each year of the compliance period such tax abatement shall be the lesser of (i) two and five-tenths percent of eligible solar electric generating system expenditures, (ii) the amount of taxes payable in such tax year, or (iii) sixty-two thou- sand five hundred dollars[.]; OR (D) IF THE SOLAR ELECTRIC GENERATING SYSTEM IS PLACED IN SERVICE ON OR AFTER JANUARY FIRST, TWO THOUSAND FOURTEEN, AND BEFORE JANUARY FIRST,
TWO THOUSAND SEVENTEEN, FOR EACH YEAR OF THE COMPLIANCE PERIOD SUCH TAX ABATEMENT SHALL BE THE LESSER OF (I) FIVE PERCENT OF ELIGIBLE SOLAR ELECTRIC GENERATING SYSTEM EXPENDITURES, (II) THE AMOUNT OF TAXES PAYA- BLE IN SUCH TAX YEAR, OR (III) SIXTY-TWO THOUSAND FIVE HUNDRED DOLLARS. S 2. Subdivision 1 of section 499-cccc of the real property tax law, as amended by chapter 401 of the laws of 2012, is amended to read as follows: 1. To obtain a tax abatement pursuant to this title, an applicant must file an application for tax abatement, which may be filed on or after January first, two thousand nine, and on or before March fifteenth, two thousand [fifteen] SEVENTEEN. S 3. This act shall take effect immediately.

Comments

Open Legislation comments facilitate discussion of New York State legislation. All comments are subject to moderation. Comments deemed off-topic, commercial, campaign-related, self-promotional; or that contain profanity or hate speech; or that link to sites outside of the nysenate.gov domain are not permitted, and will not be published. Comment moderation is generally performed Monday through Friday.

By contributing or voting you agree to the Terms of Participation and verify you are over 13.

Discuss!

blog comments powered by Disqus