NEW YORK STATE ASSEMBLY MEMORANDUM IN SUPPORT OF LEGISLATION submitted in accordance with Assembly Rule III, Sec 1(f)
BILL NUMBER: A2080
TITLE OF BILL: An act to amend the real property tax law, in relation
to exemptions for improvements to real property meeting certification
standards for green buildings
PURPOSE: To authorize municipal corporations to establish a maximum
exemption amount for an exemption for improvements to real property
meeting LEED certification standards for green buildings.
SUMMARY OF SPECIFIC PROVISIONS: This bill would authorize municipal
corporations that adopt the provisions of Section 470 of the Real Prop-
erty Tax Law to provide an exemption for improvements to real property
meeting LEED certification standards for green buildings, to include a
maximum exemption amount in its local law, ordinance or resolution.
JUSTIFICATION: Section 470 of the Real Property Tax Law authorizes
municipal corporations to provide an exemption to certain properties
meeting LEED certification standards for green buildings. This section
provides a set benefit schedule. Several localities have expressed an
interest in adopting the provisions of this section, but are concerned
that it would be too costly. This bill would make clear that municipal
corporations have the ability to limit the exemption to a specific
dollar amount, allowing them to limit the cost of the program.
LEGISLATIVE HISTORY: New legislation, 2013.
FISCAL IMPLICATIONS: None to the State.
EFFECTIVE DATE: Immediately.
STATE OF NEW YORK
S. 2034 A. 2080
2013-2014 Regular Sessions
SENATE - ASSEMBLY(Prefiled)
January 9, 2013
IN SENATE -- Introduced by Sen. LAVALLE -- read twice and ordered print-
ed, and when printed to be committed to the Committee on Housing,
Construction and Community Development
IN ASSEMBLY -- Introduced by M. of A. THIELE -- read once and referred
to the Committee on Real Property Taxation
AN ACT to amend the real property tax law, in relation to exemptions for
improvements to real property meeting certification standards for
The People of the State of New York, represented in Senate and Assem-bly, do enact as follows:
1 Section 1. Subdivision 2 of section 470 of the real property tax law,
2 as added by chapter 188 of the laws of 2012, is amended to read as
4 2. Such real property, or portion thereof, which is certified under a
5 LEED certification standard for the categories of certified, silver,
6 gold or platinum as meeting green building standards, as determined by a
7 LEED accredited professional shall be exempt as provided below for the
8 respective percentages provided that a municipal corporation may estab-
9 lish a maximum exemption amount in its local law, ordinance or resol-
10 ution, and provided further, a copy of the LEED certification for a
11 qualified category is filed with the assessor's office and is approved
12 by the assessor as meeting the requirements of this section and the
13 municipal corporation's local law, ordinance or resolution. Such
14 exemption shall be to the extent of any increase in assessed value
15 resulting from the construction or reconstruction of a property meeting
16 LEED certification.
17 LEED EXEMPTION
18 YEAR CERTIFIED/SILVER GOLD PLATINUM
19 1 100% 100% 100%
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
 is old law to be omitted.