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A08009 Summary:

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A08009 Text:

 
                STATE OF NEW YORK
        ________________________________________________________________________
 
            S. 5777                                                  A. 8009
 
                               2013-2014 Regular Sessions
 
                SENATE - ASSEMBLY
 
                                      June 14, 2013
                                       ___________
 
        IN SENATE -- Introduced by Sen. LAVALLE -- read twice and ordered print-
          ed, and when printed to be committed to the Committee on Local Govern-
          ment
 
        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  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. Subdivisions 1 and 2 of section 470 of  the  real  property
     2  tax  law,  subdivision 1 as added by chapter 188 of the laws of 2012 and
     3  subdivision 2 as amended by chapter 14 of the laws of 2013, are  amended
     4  to read as follows:
     5    1. Construction of improvements to real property initiated on or after
     6  the  first day of January, two thousand thirteen, meeting [LEED] certif-
     7  ication standards for green  buildings  as  provided  in  this  section,
     8  including  LEED,  the  green  building  initiative's green globes rating
     9  system, the national green building standards as approved by the  Ameri-

    10  can  National Standards Institute, or substantially equivalent standards
    11  for certification using a similar program for green buildings as  deter-
    12  mined by the municipal corporation, shall be exempt from taxation by any
    13  municipal  corporation  in  which such property is located to the extent
    14  provided in this section, provided the governing board of such municipal
    15  corporation, after conducting a public  hearing,  adopts  a  local  law,
    16  ordinance or resolution providing therefor.
    17    2.  Such real property, or portion thereof, which is certified under a
    18  LEED, green globes rating system, national green building  standards  or
    19  similar program using a certification standard [for] which is equivalent
    20  to  the  categories  of  certified,  silver, gold or platinum as meeting

    21  green building standards,  as  determined  by  [a  LEED]  an  accredited
 
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD11481-01-3
        S. 5777                             2                            A. 8009
 
     1  professional  shall  be  exempt  as  provided  below  for the respective
     2  percentages provided that a municipal corporation may establish a  maxi-
     3  mum  exemption  amount  in  its  local law, ordinance or resolution, and
     4  provided  further,  a  copy  of the [LEED] certification for a qualified
     5  category is filed with the assessor's office  and  is  approved  by  the
     6  assessor  as  meeting the requirements of this section and the municipal

     7  corporation's local law, ordinance or resolution. Such  exemption  shall
     8  be  to  the  extent of any increase in assessed value resulting from the
     9  construction or reconstruction of a property meeting LEED, green  globes
    10  rating  system,  national  green  building  standards or similar program
    11  certification.
    12                               LEED EXEMPTION
    13  YEAR      CERTIFIED/SILVER         GOLD      PLATINUM
    14  1         100%                     100%      100%
    15  2         100%                     100%      100%
    16  3         100%                     100%      100%
    17  4         80%                      100%      100%
    18  5         60%                      80%       100%
    19  6         40%                      60%       100%
    20  7         20%                      40%       80%
    21  8         0%                       20%       60%

    22  9         0%                       0%        40%
    23  10        0%                       0%        20%
    24    § 2. This act shall take effect immediately.