BILL NO A02097
SAME AS SAME AS S05013
Add S431, RPT L
Establishes a green development home tax exemption authorizing a 35% exemption
from local real property taxation for homes that are part of green developments
as LEED certified or certified by the national association of home builders.
TITLE OF BILL: An act to amend the real property tax law, in relation
to establishing a green development home tax exemption
PURPOSE: This legislation would allow a tax exemption for real
property tax exemption of thirty five percent for a period of no
longer than twenty years if authorized by the local municipality.
SUMMARY OF SPECIFIC PROVISIONS:
Section 1 creates the Green development home tax exemption which would
be a thirty five percent exemption for a period of no longer than
twenty years. This section provides that such an incentive shall be at
This section further provides that such homes shall be 1,2,3 story
homes are designated a green development or are LEED-ND certified.
Further this section specifies what national standards must be meet in
order to be eligible to qualify for the benefit. Section 2 is the
JUSTIFICATION: In order to facilitate growth in the green home market
an incentive is needed as these homes typically cost more than the
average new home. In order to qualify for this incentive a new home
will have to meet specific National Association of Home Builders
(NAHB) or Leadership in Energy and Environmental Design (LEER).
Specific of these standards that these homes will have to meet include
but are not limited: protection of high value vegetation, improved
soil, low or no VOC finishes, rain barrels at downspouts, recycled
content building materials must be used as 2 major components, built
in recycling collection space, renewable energy sources per house,
energy star rating of 3.0 or, higher, low flow showers and toilets,
green certified products must be used. These are a few examples.
PRIOR LEGISLATIVE HISTORY: 2013-2014 A.7297 - Referred to Real
FISCAL IMPLICATIONS: None.
EFFECTIVE DATE: This act shall take effect on the one hundred
twentieth day after becoming law.