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S07110 Summary:

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S07110 Text:

 
                STATE OF NEW YORK
        ________________________________________________________________________
 
                                          7110
 
                    IN SENATE
 
                                     March 29, 2016
                                       ___________
 
        Introduced  by  Sen.  LANZA  -- read twice and ordered printed, and when
          printed to be committed to the Committee on Cities
 
        AN ACT to amend the real property tax law, in relation to extending  the
          expiration of the solar electric generating system tax abatement
 
          The  People of the State of New York, represented in Senate and Assem-
        bly, do enact as follows:

     1    Section 1. Paragraph (d) of subdivision 1 of section 499-bbbb  of  the
     2  real  property  tax law, as added by chapter 396 of the laws of 2014, is
     3  amended to read as follows:
     4    (d) if the solar electric generating system is placed in service on or
     5  after January first, two thousand fourteen, and  before  January  first,
     6  two thousand [seventeen] nineteen, for each year of the compliance peri-
     7  od  such tax abatement shall be the lesser of (i) five percent of eligi-
     8  ble solar electric generating system expenditures, (ii)  the  amount  of
     9  taxes payable in such tax year, or (iii) sixty-two thousand five hundred
    10  dollars.
    11    §  2.  Subdivision 1 of section 499-cccc of the real property tax law,
    12  as amended by chapter 396 of the laws of 2014, is  amended  to  read  as
    13  follows:
    14    1. To obtain a tax abatement pursuant to this title, an applicant must
    15  file  an  application  for tax abatement, which may be filed on or after
    16  January first, two thousand nine, and on or before March fifteenth,  two
    17  thousand [seventeen] nineteen.
    18    § 3. This act shall take effect immediately.
 
 
 
 
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD14854-01-6