Authorizes a municipal corporation to provide a real property tax exemption for improvements to real property meeting LEED certification standards for green buildings.
STATE OF NEW YORK
________________________________________________________________________
1462--D
2011-2012 Regular Sessions
IN SENATE
January 7, 2011
___________
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 -- committee discharged, bill
amended, ordered reprinted as amended and recommitted to said commit-
tee -- 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 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 § 470. Exemption for improvements to real property meeting certif-
4 ication standards for green buildings. 1. Construction of improvements
5 to real property initiated on or after the first day of January, two
6 thousand thirteen, meeting LEED certification standards for green build-
7 ings as provided in this section, the green building initiative's green
8 globes rating system, the American National Standards Institute, or
9 substantially equivalent standards for certification using a similar
10 program for green buildings as determined by the municipal corporation,
11 shall be exempt from taxation by any municipal corporation in which such
12 property is located to the extent provided in this section, provided the
13 governing board of such municipal corporation, after conducting a public
14 hearing, adopts a local law, ordinance or resolution providing therefor.
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[] is old law to be omitted.
LBD03846-07-2
S. 1462--D 2
1 2. Such real property, or portion thereof, which is certified under a
2 LEED certification standard for the categories of certified, silver,
3 gold or platinum as meeting green building standards, as determined by a
4 LEED accredited professional shall be exempt as provided below for the
5 respective percentages provided that a copy of the LEED certification
6 for a qualified category is filed with the assessor's office and is
7 approved by the assessor as meeting the requirements of this section and
8 the municipal corporation's local law, ordinance or resolution. Such
9 exemption shall be to the extent of any increase in assessed value
10 resulting from the construction or reconstruction of a property meeting
11 LEED certification.
12 LEED EXEMPTION
13 YEARCERTIFIED/SILVERGOLDPLATINUM
14 1100%100%100%
15 2100%100%100%
16 3100%100%100%
17 480%100%100%
18 560%80%100%
19 640%60%100%
20 720%40%80%
21 80%20%60%
22 90%0%40%
23 100%0%20%
24 3. No such exemption shall be granted unless: (a) such construction of
25 improvements was commenced on or after the first day of January, two
26 thousand thirteen, or such later date as may be specified by local law;
27 (b) the value of such construction exceeds the sum of ten thousand
28 dollars; and (c) such construction is documented by a building permit,
29 if required, for the improvements, or other appropriate documentation as
30 required by the assessor. For purposes of this section the term
31 "construction of improvements" shall not include ordinary maintenance
32 and repairs.
33 4. If the assessor is satisfied that the applicant is entitled to an
34 exemption pursuant to this section, he or she shall approve the applica-
35 tion and such real property shall thereafter be exempt from taxation by
36 the municipal corporation as provided in this section commencing with
37 the assessment roll prepared after the taxable status date. The assessed
38 value of any exemption granted pursuant to this section shall be entered
39 by the assessor on the assessment roll with the taxable property, with
40 the amount of the exemption shown in a separate column.
41 § 2. This act shall take effect immediately.
