Bill Text: NY S07464 | 2013-2014 | General Assembly | Introduced


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

Spectrum: Moderate Partisan Bill (Democrat 4-1)

Status: (Passed) 2014-09-23 - SIGNED CHAP.396 [S07464 Detail]

Download: New_York-2013-S07464-Introduced.html
                           S T A T E   O F   N E W   Y O R K
       ________________________________________________________________________
                                         7464
                                   I N  S E N A T E
                                     May 15, 2014
                                      ___________
       Introduced  by  Sen.  LANZA  -- read twice and ordered printed, and when
         printed to be committed to the Committee on Cities
       AN ACT to amend the real property tax law,  in  relation  to  the  solar
         electric  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 amended by chapter 401 of the laws of 2012, is amended  to  read
    3  as 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] FOURTEEN, for each year of the compliance  period
   22  such  tax  abatement  shall  be  the  lesser  of (i) two and five-tenths
   23  percent of eligible solar electric generating system expenditures,  (ii)
   24  the  amount  of taxes payable in such tax year, or (iii) sixty-two thou-
   25  sand five hundred dollars[.]; OR
   26    (D) IF THE SOLAR ELECTRIC GENERATING SYSTEM IS PLACED IN SERVICE ON OR
   27  AFTER JANUARY FIRST, TWO THOUSAND FOURTEEN, AND  BEFORE  JANUARY  FIRST,
        EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                             [ ] is old law to be omitted.
                                                                  LBD15083-01-4
       S. 7464                             2
    1  TWO  THOUSAND SEVENTEEN, FOR EACH YEAR OF THE COMPLIANCE PERIOD SUCH TAX
    2  ABATEMENT SHALL BE THE LESSER OF (I)  FIVE  PERCENT  OF  ELIGIBLE  SOLAR
    3  ELECTRIC  GENERATING SYSTEM EXPENDITURES, (II) THE AMOUNT OF TAXES PAYA-
    4  BLE IN SUCH TAX YEAR, OR (III) SIXTY-TWO THOUSAND FIVE HUNDRED DOLLARS.
    5    S  2.  Subdivision 1 of section 499-cccc of the real property tax law,
    6  as amended by chapter 401 of the laws of 2012, is  amended  to  read  as
    7  follows:
    8    1. To obtain a tax abatement pursuant to this title, an applicant must
    9  file  an  application  for tax abatement, which may be filed on or after
   10  January first, two thousand nine, and on or before March fifteenth,  two
   11  thousand [fifteen] SEVENTEEN.
   12    S 3. This act shall take effect immediately.
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