2023-2024 Regular Sessions

                   IN ASSEMBLY

                                    December 13, 2023

        Introduced  by M. of A. CARROLL -- read once and referred to the Commit-
          tee on Real Property Taxation

        AN ACT to amend the real property tax law, in relation to providing  for
          a  direct-pay  tax  abatement  credit  for  solar  electric generating
          systems and electric energy storage systems in connection with  eligi-
          ble buildings

          The  People of the State of New York, represented in Senate and Assem-
        bly, do enact as follows:

     1    Section 1. Section 499-bbbb of the real property tax law is amended by
     2  adding a new subdivision 5 to read as follows:
     3    5. Notwithstanding any limitations or restrictions established  within
     4  this  section or any local law or resolution, any eligible building that
     5  is owned by a corporation, association, organization or trust  described
     6  in  section 501(c)(3) of the United States internal revenue code, incor-
     7  porated under article two, four, five, or eleven of the private  housing
     8  finance  law,  or  is  an income-restricted affordable housing property,
     9  including but not limited to properties with regulatory agreements  with
    10  the  New  York  city department of housing preservation and development,
    11  New York city housing development corporation, New York state department
    12  of housing and community renewal, or the  United  States  department  of
    13  housing and urban development, shall be eligible for a direct-pay credit
    14  equal  to the monetary value of the abatement as calculated in paragraph
    15  (f) of subdivision one of this section. Such direct-pay credit shall  be
    16  issued  to  the  eligible building owner by the department of finance in
    17  the form of a check irrespective of the amount of taxes payable in  such
    18  tax year.
    19    §  2.  The  section  heading and subdivisions 1, 4, 5 and 6 of section
    20  499-cccc of the real property tax law, the section heading and  subdivi-
    21  sions  4,  5 and 6 as added by chapter 473 of the laws of 2008, subdivi-
    22  sion 1 as amended by chapter 485 of the laws of  2023,  are  amended  to
    23  read as follows:

         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.

        A. 8355                             2

     1    Application for tax abatement or direct-pay credit. 1. To obtain a tax
     2  abatement or direct-pay credit pursuant to this title, an applicant must
     3  file  an  application  for tax abatement, which may be filed on or after
     4  January first, two thousand nine, and on or before  January  first,  two
     5  thousand thirty-six.
     6    4.  An  application for tax abatement or direct-pay credit shall be in
     7  any format prescribed by a designated agency, including electronic form.
     8    5. An application for tax abatement  or  direct-pay  credit  shall  be
     9  approved  by a designated agency upon determining that the applicant has
    10  submitted proof acceptable to such  agency  that  the  requirements  for
    11  obtaining  a  tax  abatement or direct-pay credit pursuant to this title
    12  and the rules promulgated hereunder have been met. The burden  of  proof
    13  shall  be on the applicant to show by clear and convincing evidence that
    14  the requirements for granting a tax abatement or direct-pay credit  have
    15  been satisfied.
    16    6.  Upon notification from a designated agency that an application for
    17  tax abatement or direct-pay credit has been approved, the department  of
    18  finance  shall  apply  the  tax abatement or direct-pay credit, provided
    19  there are no outstanding real estate taxes,  water  and  sewer  charges,
    20  payments in lieu of taxes or other municipal charges with respect to the
    21  eligible building.
    22    § 3. This act shall take effect immediately.