Bill Text: NY A04740 | 2019-2020 | General Assembly | Introduced

NOTE: There are more recent revisions of this legislation. Read Latest Draft
Bill Title: Relates to the green roof tax abatement; authorizes a tax abatement for any tax year commencing on or after July 1, 2019 and ending on or before June 30, 2024, which shall be fifteen dollars per square foot of a green roof; provides that the amount of such tax abatement shall not exceed $200,000.

Spectrum: Partisan Bill (Democrat 7-0)

Status: (Passed) 2019-07-03 - SIGNED CHAP.79 [A04740 Detail]

Download: New_York-2019-A04740-Introduced.html


                STATE OF NEW YORK
        ________________________________________________________________________
                                          4740
                               2019-2020 Regular Sessions
                   IN ASSEMBLY
                                    February 5, 2019
                                       ___________
        Introduced  by M. of A. ROZIC -- read once and referred to the Committee
          on Real Property Taxation
        AN ACT to amend the real property tax law, in relation to the green roof
          tax abatement
          The People of the State of New York, represented in Senate and  Assem-
        bly, do enact as follows:
     1    Section  1.  Section 499-bbb of the real property tax law, as added by
     2  chapter 461 of the laws of 2008 and subdivision 1 as amended by  chapter
     3  524 of the laws of 2013, is amended to read as follows:
     4    §  499-bbb.  Real  property  tax abatement. An eligible building shall
     5  receive an abatement of real property taxes as provided  in  this  title
     6  and the rules promulgated hereunder.
     7    1.  (a)  [The amount of such tax abatement for any tax year commencing
     8  on or after July first, two thousand nine and ending on or  before  June
     9  thirtieth,  two  thousand fourteen shall be four dollars and fifty cents
    10  per square foot of a green roof pursuant to an approved application  for
    11  tax  abatement; provided, however, that the amount of such tax abatement
    12  shall not exceed the lesser of (i) one hundred thousand dollars or  (ii)
    13  the tax liability for the eligible building in the tax year in which the
    14  tax abatement is taken.
    15    (b) The amount of such tax abatement for any tax year commencing on or
    16  after  July  first,  two  thousand fourteen and ending on or before June
    17  thirtieth, two thousand nineteen, shall be five dollars and twenty-three
    18  cents per square foot of a green roof pursuant to an  approved  applica-
    19  tion  for  tax abatement; provided, however, that the amount of such tax
    20  abatement shall not exceed  the  lesser  of  (i)  two  hundred  thousand
    21  dollars  or  (ii) the tax liability for the eligible building in the tax
    22  year in which the tax abatement is taken.
    23    (c) Notwithstanding paragraph (b) of this subdivision,  the  aggregate
    24  amount of tax abatements allowed under this subdivision for the tax year
    25  commencing  July  first, two thousand fourteen and ending June thirtieth

         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD07591-01-9

        A. 4740                             2

     1  two thousand fifteen shall be a maximum of seven hundred fifty  thousand
     2  dollars,  and  the aggregate amount of tax abatements allowed under this
     3  subdivision for any tax year commencing on  or  after  July  first,  two
     4  thousand  fifteen  and  ending on or before June thirtieth, two thousand
     5  nineteen shall be a maximum of one million dollars.  No  tax  abatements
     6  shall  be  allowed under this subdivision for any tax year commencing on
     7  or after July first, two thousand nineteen.]  The  amount  of  such  tax
     8  abatement  for any tax year commencing on or after July first, two thou-
     9  sand nineteen and ending on or before June thirtieth, two thousand thir-
    10  ty-one, shall be fifteen dollars per square foot of a green roof  pursu-
    11  ant  to  an  approved  application for tax abatement; provided, however,
    12  that the amount of such tax abatement shall not exceed the lesser of (i)
    13  one million dollars or (ii) five times the tax liability for the  eligi-
    14  ble  building  recorded as of the tax year in which the tax abatement is
    15  taken.
    16    (b) Such aggregate amount of tax abatements shall be allocated by  the
    17  department  of finance on a pro rata basis among applicants whose appli-
    18  cations have been approved by a designated agency. If such allocation is
    19  not made prior to the date that the real property tax bill, statement of
    20  account or other similar bill or statement is prepared, then the depart-
    21  ment of finance shall, as necessary,  after  such  allocation  is  made,
    22  submit  an amended real property tax bill, statement of account or other
    23  similar bill or statement to  any  applicant  whose  abatement  must  be
    24  adjusted  to reflect such allocation. Nothing in this paragraph shall be
    25  deemed to affect the obligation of any  taxpayer  under  applicable  law
    26  with  respect to the payment of any installment of real property tax for
    27  the fiscal year as to which such allocation is made, which was  due  and
    28  payable prior to the date such amended real property tax bills are sent,
    29  and  the department of finance shall be authorized to determine the date
    30  on which amended bills are to be sent and the installments of real prop-
    31  erty tax which are to be reflected therein.
    32    2. Such tax abatement shall  commence  on  July  first  following  the
    33  approval of an application for tax abatement by a designated agency, and
    34  shall  not exceed [one year] five years.  The abatement should be struc-
    35  tured to account for as much  as  seventy-five  percent  of  any  fiscal
    36  year's tax liability until the total abatement is exhausted.
    37    3.  With respect to any eligible building held in the condominium form
    38  of ownership that receive a tax abatement pursuant to this  title,  such
    39  tax abatement benefits shall be apportioned among all of the condominium
    40  tax lots within such eligible building.
    41    4.  If,  as  a  result of application to the tax commission or a court
    42  order or action by the department  of  finance,  the  billable  assessed
    43  value for the fiscal year in which the tax abatement is taken is reduced
    44  after the assessment roll becomes final, the department of finance shall
    45  recalculate the abatement so that the abatement granted shall not exceed
    46  the  annual tax liability as so reduced. The amount equal to the differ-
    47  ence between the abatement originally granted and the  abatement  as  so
    48  recalculated  shall  be  deducted  from  any refund otherwise payable or
    49  remission otherwise due as  a  result  of  such  reduction  in  billable
    50  assessed value.
    51    5.  The abatement shall only be offered to buildings located within as
    52  many as three specifically designated New York city community districts,
    53  chosen by the New York city department of environmental  protection.  No
    54  building  located  outside  of  a  designated  area shall be eligible to
    55  receive an abatement. The New  York  city  department  of  environmental
    56  protection  shall  select  community  districts  on a rolling three year

        A. 4740                             3
     1  basis. In selecting community districts, the New York city department of
     2  environmental protection shall prioritize areas in the priority combined
     3  sewage overflow tributary areas identified by the city, with  particular
     4  emphasis on those portions of the city that the New York city department
     5  of environmental protection identifies as lacking green space.
     6    § 2. This act shall take effect immediately.
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