S T A T E   O F   N E W   Y O R K
       ________________________________________________________________________
                                         10620
                                 I N  A S S E M B L Y
                                     June 8, 2012
                                      ___________
       Introduced  by COMMITTEE ON RULES -- (at request of M. of A. Farrell) --
         read once and referred to the Committee on Ways and Means
       AN ACT to amend the real property tax law, in relation to a solar  elec-
         tric  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:
    1    Section  1. Subdivision 1 of section 499-bbbb of the real property tax
    2  law, as added by chapter 473 of the laws of 2008, is amended to read  as
    3  follows:
    4    1. The amount of such tax abatement shall be as follows:
    5    (a) if the solar electric generating system is placed in service on or
    6  after  the  effective  date  of this title and before January first, two
    7  thousand eleven, for each year of the compliance period such tax  abate-
    8  ment  shall  be  the  lesser  of  (i) eight and three-fourths percent of
    9  eligible solar electric generating system expenditures, (ii) the  amount
   10  of  taxes  payable  in  such  tax year, or (iii) sixty-two thousand five
   11  hundred dollars; or
   12    (b) if the solar electric generating system is placed in service on or
   13  after January first, two thousand eleven, and before January first,  two
   14  thousand  thirteen,  for  each  year  of  the compliance period such tax
   15  abatement shall be the lesser of (i)  five  percent  of  eligible  solar
   16  electric  generating system expenditures, (ii) the amount of taxes paya-
   17  ble in such tax year, or (iii) sixty-two thousand five hundred  dollars;
   18  OR
   19    (C) IF THE SOLAR ELECTRIC GENERATING SYSTEM IS PLACED IN SERVICE ON OR
   20  AFTER  JANUARY  FIRST,  TWO THOUSAND THIRTEEN, AND BEFORE JANUARY FIRST,
   21  TWO THOUSAND FIFTEEN, FOR EACH YEAR OF THE COMPLIANCE  PERIOD  SUCH  TAX
   22  ABATEMENT  SHALL  BE  THE  LESSER  OF (I) TWO AND FIVE-TENTHS PERCENT OF
   23  ELIGIBLE SOLAR ELECTRIC GENERATING SYSTEM EXPENDITURES, (II) THE  AMOUNT
   24  OF  TAXES  PAYABLE  IN  SUCH  TAX YEAR, OR (III) SIXTY-TWO THOUSAND FIVE
   25  HUNDRED DOLLARS.
        EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                             [ ] is old law to be omitted.
                                                                  LBD16199-01-2
       A. 10620                            2
    1    S 2. Subdivision 1 of section 499-cccc of the real property  tax  law,
    2  as  added  by  chapter  473  of  the laws of 2008, is amended to read as
    3  follows:
    4    1. To obtain a tax abatement pursuant to this title, an applicant must
    5  file  an  application  for tax abatement, which may be filed on or after
    6  January first, two thousand nine, and on or before March fifteenth,  two
    7  thousand [thirteen] FIFTEEN.
    8    S 3. This act shall take effect immediately.