A10620 Summary:

BILL NO    A10620 

SAME AS    SAME AS S07711

SPONSOR    Rules (Farrell)

COSPNSR    Rivera P, Rivera N

MLTSPNSR   

Amd SS499-bbbb & 499-cccc, RPT L

Provides for the amount of tax abatement for solar generating systems in cities
of one million or more.
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A10620 Memo:

BILL NUMBER:A10620

TITLE  OF BILL:   An act to amend the real property tax law, in relation
to a solar electric generating system tax abatement for certain  proper-
ties in a city of one million or more persons

PURPOSE  OR  GENERAL IDEA OF BILL: This bill would amend subdivision one
of section 499-bbb of the Real Property Tax Law (RPTL) by adding  a  new
paragraph  (c) and would amend subdivision one of section 499-ccc of the
RPTL.

SUMMARY OF PROVISIONS:   If the  solar  electric  generating  system  is
placed  in  service  on  or  after January 1, 2013 and before January 1,
2015, the amount of the tax abatement would be 2.5%  of  eligible  solar
electric  generating  system  expenditures in each year of the four-year
compliance period. However, the benefit in each tax year would be limit-
ed to the lesser of the amount of taxes payable or $62,500.    "Eligible
solar   electric  generating  system  expenditures"  include  reasonable
expenditures for materials, labor costs properly  allocable  to  on-site
preparation, assembly and original installation, architectural and engi-
neering  services,  and  designs  and  plans  directly  related  to  the
construction or installation of the solar electric generating system.

JUSTIFICATION: The City of New York strongly supports this  legislation,
which  would  extend  an  existing  incentive  program  to encourage the
installation of solar electric generating systems,  in  connection  with
class one, class two and class four properties in the City.

This  program is aligned with the Mayor's long-term sustainability plan,
PlaNYC, first issued in April 2007, which set a 30% greenhouse gas emis-
sion reduction target for 2030 and committed to providing cleaner,  more
reliable  power  for  every  New  Yorker.  These  goals will be achieved
through efforts to  improve  energy  efficiency  and  clean  our  energy
supply. In the near term, the City will still rely on conventional ener-
gy sources, such as natural gas.

New  York  City's  tall buildings lead to high installation costs, while
extensive interconnection requirements and inspections delay implementa-
tion. For these reasons, installation costs for solar electric  generat-
ing  systems in the City are approximately 30% higher than in New Jersey
and 50% higher than in Long Island.

Continuation of the property tax abatement will offset some of the  high
cost  associated  with solar energy installation and enable customers to
choose solar energy at  their  home  or  business,  and  will  stimulate
further  clean  energy  investment  and job creation throughout New York
City.

PRIOR LEGISLATIVE HISTORY: New bill

FISCAL IMPLICATIONS: None to the State

EFFECTIVE DATE: This act shall take effect immediately
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A10620 Text:

                           S T A T E   O F   N E W   Y O R K
       ________________________________________________________________________

                                         10620

                                 I N  A S S E M B L Y

                                     June 8, 2012
                                      ___________

       Introduced  by COMMITTEE ON RULES -- (at request of M. of A. Farrell) --
         read once and referred to the Committee on Ways and Means

       AN ACT to amend the real property tax law, in relation to a solar  elec-
         tric  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 added by chapter 473 of the laws of 2008, is amended to read  as
    3  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, FOR EACH YEAR OF THE COMPLIANCE  PERIOD  SUCH  TAX
   22  ABATEMENT  SHALL  BE  THE  LESSER  OF (I) TWO AND FIVE-TENTHS PERCENT OF
   23  ELIGIBLE SOLAR ELECTRIC GENERATING SYSTEM EXPENDITURES, (II) THE  AMOUNT
   24  OF  TAXES  PAYABLE  IN  SUCH  TAX YEAR, OR (III) SIXTY-TWO THOUSAND FIVE
   25  HUNDRED DOLLARS.

        EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                             [ ] is old law to be omitted.
                                                                  LBD16199-01-2
       A. 10620                            2

    1    S 2. Subdivision 1 of section 499-cccc of the real property  tax  law,
    2  as  added  by  chapter  473  of  the laws of 2008, is amended to read as
    3  follows:
    4    1. To obtain a tax abatement pursuant to this title, an applicant must
    5  file  an  application  for tax abatement, which may be filed on or after
    6  January first, two thousand nine, and on or before March fifteenth,  two
    7  thousand [thirteen] FIFTEEN.
    8    S 3. This act shall take effect immediately.
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