Bill Text: NY A10146 | 2023-2024 | General Assembly | Introduced
Bill Title: Provides for an exemption from taxation for capital improvements to residential buildings to reduce carbon emissions where the governing board of the applicable county, city, town or village adopts a local law and a school district, other than a school district subject to article fifty-two of the education law, adopts a resolution to grant the exemption.
Spectrum: Partisan Bill (Democrat 1-0)
Status: (Introduced) 2024-05-14 - reported referred to ways and means [A10146 Detail]
Download: New_York-2023-A10146-Introduced.html
STATE OF NEW YORK ________________________________________________________________________ 10146 IN ASSEMBLY May 10, 2024 ___________ Introduced by COMMITTEE ON RULES -- (at request of M. of A. Barrett) -- read once and referred to the Committee on Real Property Taxation AN ACT to amend the real property tax law, in relation to providing an exemption from taxation for capital improvements to residential build- ings to reduce carbon emissions 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 421-q to read as follows: 3 § 421-q. Exemption from taxation for capital improvements to residen- 4 tial buildings to reduce carbon emissions. 1. For the purposes of this 5 section, the following terms shall have the following meanings: 6 (a) "Eligible real property" means any owner-occupied building or 7 structure designed and occupied exclusively for residential purposes by 8 not more than two families. 9 (b) "Eligible improvements" shall be limited to categories of work 10 that result in a reduction of greenhouse gas emissions for the build- 11 ing, provided further that such work shall be in conformity with all 12 applicable state and local laws. Eligible improvements shall include, 13 but not be limited to, any of the following types of improvements: 14 (i) Replacement, repair or installation of new systems for heating or 15 cooling, including domestic hot water; 16 (ii) Installation of solar, energy storage, or other mechanisms to 17 offset use of energy from the electrical grid; 18 (iii) Replacement or installation of insulation in walls, roofs, 19 flooring, windows, eaves, and around pipes; 20 (iv) Replacement or installation of thermostats to control temperature 21 and building management systems; 22 (v) Installation of energy efficient appliances, fixtures, or light- 23 ing; and 24 (vi) Repair, replacement or modification of the electrical system, 25 and/or wiring associated therewith. 26 (c) "Exemption base" means the amount of increased assessed value on 27 eligible real property resulting from eligible improvements. EXPLANATION--Matter in italics (underscored) is new; matter in brackets [] is old law to be omitted. LBD15548-01-4A. 10146 2 1 2. Eligible real property reconstructed, altered or improved as a 2 result of eligible improvements subsequent to the effective date of this 3 section shall be exempt from taxation and special ad valorem levies to 4 the extent provided in this section, provided that after a public hear- 5 ing, the governing board of the applicable county, city, town or village 6 adopts a local law and a school district, other than a school district 7 subject to article fifty-two of the education law, adopts a resolution 8 to grant the exemption authorized pursuant to this section. A copy of 9 such local law or resolution shall be filed with the commissioner and 10 the assessor of such county, city, town or village who prepares the 11 assessment roll on which the taxes of such county, city, town, village 12 or school district are levied. 13 3. Eligible real property subject to eligible improvements shall be 14 exempt from taxation for a period of twenty years. For the first ten 15 years after the eligible improvements have been completed, one hundred 16 percent of the exemption base shall be exempt from taxation. Such 17 exemption shall decrease by ten percent annually over the subsequent 18 ten years. 19 4. The exemption established in this section shall be granted only 20 upon application by the owner of such building on a form prescribed by 21 the commissioner. The application shall be filed with the assessor of 22 the city, town, village or county having the power to assess the 23 applicable eligible real property for taxation on or before the appro- 24 priate taxable status date of such city, town, village or county. 25 5. If satisfied that the applicant is entitled to an exemption 26 pursuant to this section, the assessor shall approve the application and 27 such eligible real property shall thereafter be exempt from taxation 28 and special ad valorem levies as herein provided commencing with the 29 assessment roll prepared on the basis of the taxable status 30 date referred to in subdivision four of this section. The assessed value 31 of any exemption granted pursuant to this section shall be entered by 32 the assessor on the assessment roll with the eligible property, 33 with the amount of the exemption shown in a separate column. 34 6. In the event that eligible real property granted an exemption 35 pursuant to this section ceases to be used primarily for residen- 36 tial purposes or title thereto is transferred to other than the heirs or 37 distributees of the owner, the exemption granted pursuant to this 38 section shall cease. 39 7. (a) A county, city, town or village may, by its local law, or 40 school district, by its resolution may: 41 (i) reduce the per centum of exemption otherwise allowed pursuant to 42 this section; or 43 (ii) limit or expand eligible improvements eligible for exemption 44 pursuant to this section. 45 (b) No such local law or resolution shall reduce or repeal an 46 exemption granted pursuant to this section until the expiration of the 47 period for which such exemption was granted. 48 § 2. This act shall take effect immediately and shall apply to assess- 49 ment rolls based on taxable status dates occurring on or after such 50 effective date.
