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--B                                            A. 1415--B
                              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  Sens. LAVALLE, DUANE, MONTGOMERY -- read
         twice and ordered printed, and when printed to  be  committed  to  the
         Committee  on  Local Government -- committee discharged, bill amended,
         ordered reprinted as amended and  recommitted  to  said  committee  --
         recommitted  to  the  Committee on Local Government in accordance with
         Senate Rule 6, sec. 8 -- committee discharged, bill  amended,  ordered
         reprinted as amended and recommitted to said committee
       IN ASSEMBLY -- Introduced by M. of A. THIELE, GALEF, ENGLEBRIGHT, ROSEN-
         THAL,  CALHOUN  --  Multi-Sponsored by -- M. of A. MURRAY -- read once
         and referred to the Committee on Real Property Taxation  --  committee
         discharged, bill amended, ordered reprinted as amended and recommitted
         to  said  committee  --  recommitted to the Committee on Real Property
         Taxation in accordance with Assembly Rule 3, sec. 2  --  reported  and
         referred  to  the Committee on Ways and Means -- 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  THIRTEEN,  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
        EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                             [ ] is old law to be omitted.
                                                                  LBD03846-04-2
       S. 1462--B                          2                         A. 1415--B
    1  EXTENT PROVIDED IN THIS SECTION, PROVIDED THE GOVERNING  BOARD  OF  SUCH
    2  MUNICIPAL CORPORATION, AFTER CONDUCTING A PUBLIC HEARING, ADOPTS A LOCAL
    3  LAW, ORDINANCE OR RESOLUTION PROVIDING THEREFOR.
    4    2.  SUCH REAL PROPERTY, OR PORTION THEREOF, WHICH IS CERTIFIED UNDER A
    5  LEED CERTIFICATION STANDARD FOR THE  CATEGORIES  OF  CERTIFIED,  SILVER,
    6  GOLD OR PLATINUM AS MEETING GREEN BUILDING STANDARDS, AS DETERMINED BY A
    7  LEED  ACCREDITED  PROFESSIONAL SHALL BE EXEMPT AS PROVIDED BELOW FOR THE
    8  RESPECTIVE PERCENTAGES PROVIDED THAT A COPY OF  THE  LEED  CERTIFICATION
    9  FOR  A  QUALIFIED  CATEGORY  IS  FILED WITH THE ASSESSOR'S OFFICE AND IS
   10  APPROVED BY THE ASSESSOR AS MEETING THE REQUIREMENTS OF THIS SECTION AND
   11  THE MUNICIPAL CORPORATION'S LOCAL LAW, ORDINANCE OR  RESOLUTION.    SUCH
   12  EXEMPTION  SHALL  BE  TO  THE  EXTENT  OF ANY INCREASE IN ASSESSED VALUE
   13  RESULTING FROM THE CONSTRUCTION OR RECONSTRUCTION OF A PROPERTY  MEETING
   14  LEED CERTIFICATION.
   15                               LEED EXEMPTION
   16  YEAR      CERTIFIED/SILVER         GOLD      PLATINUM
   17  1         100%                     100%      100%
   18  2         100%                     100%      100%
   19  3         100%                     100%      100%
   20  4         80%                      100%      100%
   21  5         60%                      80%       100%
   22  6         40%                      60%       100%
   23  7         20%                      40%       80%
   24  8         0%                       20%       60%
   25  9         0%                       0%        40%
   26  10        0%                       0%        20%
   27    3. NO SUCH EXEMPTION SHALL BE GRANTED UNLESS: (A) SUCH CONSTRUCTION OF
   28  IMPROVEMENTS  WAS  COMMENCED  ON  OR AFTER THE FIRST DAY OF JANUARY, TWO
   29  THOUSAND THIRTEEN, OR SUCH LATER DATE AS MAY BE SPECIFIED BY LOCAL  LAW;
   30  (B)  THE  VALUE  OF  SUCH  CONSTRUCTION  EXCEEDS THE SUM OF TEN THOUSAND
   31  DOLLARS; AND (C) SUCH CONSTRUCTION IS DOCUMENTED BY A  BUILDING  PERMIT,
   32  IF REQUIRED, FOR THE IMPROVEMENTS, OR OTHER APPROPRIATE DOCUMENTATION AS
   33  REQUIRED  BY  THE  ASSESSOR.  FOR  PURPOSES  OF  THIS  SECTION  THE TERM
   34  "CONSTRUCTION OF IMPROVEMENTS" SHALL NOT  INCLUDE  ORDINARY  MAINTENANCE
   35  AND REPAIRS.
   36    4.  IF  THE ASSESSOR IS SATISFIED THAT THE APPLICANT IS ENTITLED TO AN
   37  EXEMPTION PURSUANT TO THIS SECTION, HE OR SHE SHALL APPROVE THE APPLICA-
   38  TION AND SUCH REAL PROPERTY SHALL THEREAFTER BE EXEMPT FROM TAXATION  BY
   39  THE  MUNICIPAL  CORPORATION  AS PROVIDED IN THIS SECTION COMMENCING WITH
   40  THE ASSESSMENT ROLL PREPARED AFTER THE TAXABLE STATUS DATE. THE ASSESSED
   41  VALUE OF ANY EXEMPTION GRANTED PURSUANT TO THIS SECTION SHALL BE ENTERED
   42  BY THE ASSESSOR ON THE ASSESSMENT ROLL WITH THE TAXABLE  PROPERTY,  WITH
   43  THE AMOUNT OF THE EXEMPTION SHOWN IN A SEPARATE COLUMN.
   44    S 2. This act shall take effect immediately.