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:

NEW YORK STATE ASSEMBLY
MEMORANDUM IN SUPPORT OF LEGISLATION
submitted in accordance with Assembly Rule III, Sec 1(f)
 
BILL NUMBER: A10620
 
SPONSOR: Rules (Farrell)
  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 legis- lation, 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:



 
                STATE OF NEW YORK
        ________________________________________________________________________
 
                                          10620
 
                   IN ASSEMBLY
 
                                      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    § 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    § 3. This act shall take effect immediately.
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