Extends from January 1, 2011 until January 1, 2015, the expiration of certain provisions of law relating to tax exemptions for solar, wind, or farm waste energy systems.
Ayes (6): Stewart-Cousins, Oppenheimer, Valesky, Johnson C, Little, Bonacic
Ayes W/R (1): Thompson
Excused (1): Morahan
Ayes (33): Kruger, Krueger, Stachowski, Oppenheimer, Montgomery, Duane, Parker, Stavisky, Dilan, Stewart-Cousins, Thompson, Breslin, Diaz, Espada, Klein, Perkins, Valesky, Peralta, DeFrancisco, Johnson O, Volker, Padavan, LaValle, Seward, Saland, Farley, Hannon, Larkin, Nozzolio, Leibell, Maziarz, Marcellino, Robach
BILL NUMBER: S7730
TITLE OF BILL : An act to amend the real property tax law, in relation to extending certain energy exemptions
PURPOSE : To extend certain energy exemption for more years.
SUMMARY OF PROVISIONS : Section one amends subdivision (5) of §487 of the Real Property Tax Law by extending the ability of local governments and school districts to provide a tax exemption for certain alternative and renewable energy generating systems from January 1, 2006 to January 1, 2015.
EXISTING LAW : Expires January 1, 2011.
JUSTIFICATION : The State has a1lowed localities and school districts to provide exemptions for property containing wind, solar and farm waste energy systems since January 1, 1991. The ability to grant these exemptions sunsets at the end of this year. This bill would extend this worthwhile program for another four years.
LEGISLATIVE HISTORY : New Bill.
FISCAL IMPLICATIONS : None to the state.
LOCAL FISCAL IMPLICATIONS : Local fiscal implications are to be determined, however they will be subject to a vote by local government.
EFFECTIVE DATE : This act shall take effect immediately.
STATE OF NEW YORK ________________________________________________________________________ 7730 IN SENATE May 5, 2010 ___________Introduced by Sen. FLANAGAN -- 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 extending certain energy exemptions 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 129 of the laws of 2006, 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
[eleven]FIFTEEN. S 2. This act shall take effect immediately.EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD17037-01-0