Bill Text: NY A09680 | 2013-2014 | General Assembly | Introduced

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

Spectrum: Partisan Bill (Democrat 2-0)

Status: (Introduced - Dead) 2014-06-19 - substituted by s7464a [A09680 Detail]

Download: New_York-2013-A09680-Introduced.html

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                           S T A T E   O F   N E W   Y O R K
       ________________________________________________________________________
                                         9680
                                 I N  A S S E M B L Y
                                     May 15, 2014
                                      ___________
       Introduced  by  M.  of  A.  ROSENTHAL  --  read once and referred to the
         Committee on Real Property Taxation
       AN ACT to amend the real property tax law, in relation to a solar  elec-
         tric generating system tax abatement
         THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
       BLY, DO ENACT AS FOLLOWS:
    1    Section 1. Paragraph (c) of subdivision 1 of section 499-bbbb  of  the
    2  real property tax law, as amended by chapter 401 of the laws of 2012, is
    3  amended and a new paragraph (d) is added to read as follows:
    4    (c) if the solar electric generating system is placed in service on or
    5  after  January  first,  two thousand thirteen, and before January first,
    6  two thousand [fifteen] FOURTEEN, for each year of the compliance  period
    7  such  tax  abatement  shall  be  the  lesser  of (i) two and five-tenths
    8  percent of eligible solar electric generating system expenditures,  (ii)
    9  the  amount  of taxes payable in such tax year, or (iii) sixty-two thou-
   10  sand five hundred dollars.
   11    (D) IF THE SOLAR ELECTRIC GENERATING SYSTEM IS PLACED IN SERVICE ON OR
   12  AFTER JANUARY FIRST, TWO THOUSAND FOURTEEN, AND  BEFORE  JANUARY  FIRST,
   13  TWO  THOUSAND SEVENTEEN, FOR EACH YEAR OF THE COMPLIANCE PERIOD SUCH TAX
   14  ABATEMENT SHALL BE THE LESSER OF (I)  FIVE  PERCENT  OF  ELIGIBLE  SOLAR
   15  ELECTRIC  GENERATING SYSTEM EXPENDITURES, (II) THE AMOUNT OF TAXES PAYA-
   16  BLE IN SUCH TAX YEAR, OR (III) SIXTY-TWO THOUSAND FIVE HUNDRED DOLLARS.
   17    S 2. Subdivision 1 of section 499-cccc of the real property  tax  law,
   18  as  amended  by  chapter  401 of the laws of 2012, is amended to read as
   19  follows:
   20    1. To obtain a tax abatement pursuant to this title, an applicant must
   21  file an application for tax abatement, which may be filed  on  or  after
   22  January  first, two thousand nine, and on or before March fifteenth, two
   23  thousand [fifteen] SEVENTEEN.
   24    S 3. This act shall take effect immediately.
        EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                             [ ] is old law to be omitted.
                                                                  LBD15241-01-4