Bill Text: NY S06640 | 2023-2024 | General Assembly | Introduced

NOTE: There are more recent revisions of this legislation. Read Latest Draft

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Bill Title: Updates and modifies the tax abatements for certain solar and electric storage systems; grants real property tax abatements for solar parking canopy structures.

Spectrum: Partisan Bill (Democrat 2-0)

Status: (Introduced - Dead) 2023-06-07 - SUBSTITUTED BY A6113B [S06640 Detail]

Download: New_York-2023-S06640-Introduced.html

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                STATE OF NEW YORK
        ________________________________________________________________________

                                          6640

                               2023-2024 Regular Sessions

                    IN SENATE

                                       May 3, 2023
                                       ___________

        Introduced  by Sen. KAVANAGH -- read twice and ordered printed, and when
          printed to be committed to the Committee on Cities 1

        AN ACT to amend the real property tax law, in relation to  updating  and
          modifying  the  tax  abatements for certain solar and electric storage
          systems

          The People of the State of New York, represented in Senate and  Assem-
        bly, do enact as follows:

     1    Section  1.  Subdivisions  2, 7, and 8 of section 499-aaaa of the real
     2  property tax law, subdivisions 2 and 8 as amended by chapter 412 of  the
     3  laws  of  2018  and subdivision 7 as added by chapter 473 of the laws of
     4  2008, are amended to read as follows:
     5    2. "Application for tax abatement" shall mean  an  application  for  a
     6  solar  electric  generating  system  [or] and/or electric energy storage
     7  equipment tax abatement pursuant to section  four  hundred  ninety-nine-
     8  cccc of this title.
     9    7. "Eligible building" shall mean a class one, class two or class four
    10  real property, as defined in subdivision one of section eighteen hundred
    11  two  of  this  chapter, located within a city having a population of one
    12  million or more persons. [No building shall be eligible  for  more  than
    13  one tax abatement pursuant to this title.]
    14    8.  "Eligible  solar  electric  generating  system  expenditures"  and
    15  "eligible electric energy storage  equipment  expenditures"  shall  mean
    16  reasonable expenditures for materials, labor costs properly allocable to
    17  on-site  preparation,  assembly and original installation, architectural
    18  and engineering services, and designs and plans directly related to  the
    19  construction  or installation of a solar electric generating system [or]
    20  and/or electric energy storage equipment installed in connection with an
    21  eligible building. Solar parking canopy structures shall be considered a
    22  solar electric generating system for the purposes of  this  subdivision.
    23  Such  eligible  expenditures shall not include interest or other finance

         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD10389-01-3
        S. 6640                             2

     1  charges, or any expenditures incurred using a federal,  state  or  local
     2  grant.
     3    §  2.  Paragraph  (e) of subdivision 1 of section 499-bbbb of the real
     4  property tax law, as amended by section 1 of item B of subpart H of part
     5  XXX of chapter 58 of the laws of 2020, is amended and a new  subdivision
     6  5 is added to read as follows:
     7    (e)  if  electric  energy storage equipment is placed in service on or
     8  after January first, two thousand nineteen, and  before  January  first,
     9  two  thousand  twenty-four,  for each year of the compliance period such
    10  tax abatement shall be the lesser of (i) ten percent of  eligible  elec-
    11  tric  energy  storage  equipment  expenditures, (ii) the amount of taxes
    12  payable in such tax year,  or  (iii)  sixty-two  thousand  five  hundred
    13  dollars; or
    14    (f)  if  the  solar  electric generating system and/or electric energy
    15  storage system is placed in service on or after January first, two thou-
    16  sand twenty-four, and before January first,  two  thousand  thirty-five,
    17  for  each  year of the compliance period such tax abatement shall be the
    18  lesser of (i) seven and one-half  percent  of  eligible  solar  electric
    19  generating  system  and/or  energy storage system expenditures, (ii) the
    20  amount of taxes payable in such tax year, or  (iii)  sixty-two  thousand
    21  five hundred dollars.
    22    5.  Notwithstanding  any limitations or restrictions noted within this
    23  section or local law or resolution, eligible buildings that are owned by
    24  a corporation, association, organization or trust described  in  section
    25  501  (c)  (3)  of  the United States internal revenue code, incorporated
    26  under articles two, five, or nine of the private housing finance law, or
    27  are income-restricted affordable housing properties, including  but  not
    28  limited  to properties with regulatory agreements with the New York city
    29  department of housing preservation and development, New York city  hous-
    30  ing  development  corporation,  New York state department of housing and
    31  community renewal, or the United States department of housing and  urban
    32  development,  shall  be  eligible  for  a direct-pay credit equal to the
    33  monetary value of the abatement as calculated in paragraph (f) of subdi-
    34  vision one of this section. Such direct-pay credit shall  be  issued  to
    35  the  eligible building owner by the department of finance in the form of
    36  a check irrespective of the amount of taxes payable in such tax year.
    37    § 3. Subdivision 1 of section 499-cccc of the real property  tax  law,
    38  as amended by section 2 of item B of subpart H of part XXX of chapter 58
    39  of the laws of 2020, is amended to read as follows:
    40    1. To obtain a tax abatement pursuant to this title, an applicant must
    41  file  an  application  for tax abatement, which may be filed on or after
    42  January first, two thousand nine, and on or before March fifteenth,  two
    43  thousand [twenty-four] thirty-five.
    44    § 4. This act shall take effect immediately.