Bill Text: NY S01462 | 2011-2012 | General Assembly | Amended

NOTE: There are more recent revisions of this legislation. Read Latest Draft

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Bill Title: Authorizes a municipal corporation to provide a real property tax exemption for improvements to real property meeting LEED certification standards for green buildings.

Spectrum: Slight Partisan Bill (Democrat 2-1)

Status: (Passed) 2012-07-18 - SIGNED CHAP.188 [S01462 Detail]

Download: New_York-2011-S01462-Amended.html

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                           S T A T E   O F   N E W   Y O R K
       ________________________________________________________________________
           S. 1462--A                                            A. 1415--A
                              2011-2012 Regular Sessions
                             S E N A T E - A S S E M B L Y
                                    January 7, 2011
                                      ___________
       IN SENATE -- Introduced by Sen. LAVALLE -- read twice and ordered print-
         ed, and when printed to be committed to the Committee on Local Govern-
         ment  --  committee  discharged,  bill  amended,  ordered reprinted as
         amended and recommitted to said committee
       IN ASSEMBLY -- Introduced by M. of A. THIELE -- read once  and  referred
         to  the  Committee  on Real Property Taxation -- committee discharged,
         bill amended, ordered reprinted as amended  and  recommitted  to  said
         committee
       AN  ACT to amend the real property tax law, in relation to authorizing a
         municipal corporation to provide a real  property  tax  exemption  for
         improvements to real property meeting LEED certification standards for
         green buildings
         THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
       BLY, DO ENACT AS FOLLOWS:
    1    Section 1. The real property tax  law  is  amended  by  adding  a  new
    2  section 470 to read as follows:
    3    S  470.  EXEMPTION  FOR  IMPROVEMENTS  TO  REAL  PROPERTY MEETING LEED
    4  CERTIFICATION STANDARDS FOR GREEN BUILDINGS. 1. CONSTRUCTION OF IMPROVE-
    5  MENTS TO REAL PROPERTY INITIATED ON OR AFTER THE FIRST DAY  OF  JANUARY,
    6  TWO  THOUSAND  TWELVE,  MEETING  LEED  CERTIFICATION STANDARDS FOR GREEN
    7  BUILDINGS AS PROVIDED IN THIS SECTION, SHALL BE EXEMPT FROM TAXATION  BY
    8  ANY  MUNICIPAL  CORPORATION  IN  WHICH  SUCH  PROPERTY IS LOCATED TO THE
    9  EXTENT PROVIDED IN THIS SECTION, PROVIDED THE GOVERNING  BOARD  OF  SUCH
   10  MUNICIPAL CORPORATION, AFTER CONDUCTING A PUBLIC HEARING, ADOPTS A LOCAL
   11  LAW, ORDINANCE OR RESOLUTION PROVIDING THEREFOR.
   12    2.  SUCH REAL PROPERTY, OR PORTION THEREOF, WHICH IS CERTIFIED UNDER A
   13  LEED CERTIFICATION STANDARD FOR THE  CATEGORIES  OF  CERTIFIED,  SILVER,
   14  GOLD OR PLATINUM AS MEETING GREEN BUILDING STANDARDS, AS DETERMINED BY A
   15  LEED  ACCREDITED  PROFESSIONAL SHALL BE EXEMPT AS PROVIDED BELOW FOR THE
   16  RESPECTIVE PERCENTAGES PROVIDED THAT A COPY OF  THE  LEED  CERTIFICATION
        EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                             [ ] is old law to be omitted.
                                                                  LBD03846-03-1
       S. 1462--A                          2                         A. 1415--A
    1  FOR  A  QUALIFIED  CATEGORY  IS  FILED WITH THE ASSESSOR'S OFFICE AND IS
    2  APPROVED BY THE ASSESSOR AS MEETING THE REQUIREMENTS OF THIS SECTION AND
    3  THE MUNICIPAL CORPORATION'S LOCAL LAW, ORDINANCE OR  RESOLUTION.    SUCH
    4  EXEMPTION  SHALL  BE  TO  THE  EXTENT  OF ANY INCREASE IN ASSESSED VALUE
    5  RESULTING FROM THE CONSTRUCTION OR RECONSTRUCTION OF A PROPERTY  MEETING
    6  LEED CERTIFICATION.
    7                               LEED EXEMPTION
    8  YEAR      CERTIFIED/SILVER         GOLD      PLATINUM
    9  1         100%                     100%      100%
   10  2         100%                     100%      100%
   11  3         100%                     100%      100%
   12  4         80%                      100%      100%
   13  5         60%                      80%       100%
   14  6         40%                      60%       100%
   15  7         20%                      40%       80%
   16  8         0%                       20%       60%
   17  9         0%                       0%        40%
   18  10        0%                       0%        20%
   19    3. NO SUCH EXEMPTION SHALL BE GRANTED UNLESS: (A) SUCH CONSTRUCTION OF
   20  IMPROVEMENTS  WAS  COMMENCED  ON  OR AFTER THE FIRST DAY OF JANUARY, TWO
   21  THOUSAND TWELVE, OR SUCH LATER DATE AS MAY BE SPECIFIED  BY  LOCAL  LAW;
   22  (B)  THE  VALUE  OF  SUCH  CONSTRUCTION  EXCEEDS THE SUM OF TEN THOUSAND
   23  DOLLARS; AND (C) SUCH CONSTRUCTION IS DOCUMENTED BY A  BUILDING  PERMIT,
   24  IF REQUIRED, FOR THE IMPROVEMENTS, OR OTHER APPROPRIATE DOCUMENTATION AS
   25  REQUIRED  BY  THE  ASSESSOR.  FOR  PURPOSES  OF  THIS  SECTION  THE TERM
   26  "CONSTRUCTION OF IMPROVEMENTS" SHALL NOT  INCLUDE  ORDINARY  MAINTENANCE
   27  AND REPAIRS.
   28    4.  IF  THE ASSESSOR IS SATISFIED THAT THE APPLICANT IS ENTITLED TO AN
   29  EXEMPTION PURSUANT TO THIS SECTION, HE OR SHE SHALL APPROVE THE APPLICA-
   30  TION AND SUCH REAL PROPERTY SHALL THEREAFTER BE EXEMPT FROM TAXATION  BY
   31  THE  MUNICIPAL  CORPORATION  AS PROVIDED IN THIS SECTION COMMENCING WITH
   32  THE ASSESSMENT ROLL PREPARED AFTER THE TAXABLE STATUS DATE. THE ASSESSED
   33  VALUE OF ANY EXEMPTION GRANTED PURSUANT TO THIS SECTION SHALL BE ENTERED
   34  BY THE ASSESSOR ON THE ASSESSMENT ROLL WITH THE TAXABLE  PROPERTY,  WITH
   35  THE AMOUNT OF THE EXEMPTION SHOWN IN A SEPARATE COLUMN.
   36    S 2. This act shall take effect immediately.