BILL NUMBER: S10365
SPONSOR: LIU
 
TITLE OF BILL:
An act to amend the real property tax law, in relation to extending
certain deadlines for purposes of the green roof tax abatement for
certain properties in a city of one million or more persons
 
PURPOSE:
This bill extends the tax abatement program for green roofs.
 
SUMMARY OF PROVISIONS:
Section 1 amends section 499-bbb of the real property tax law to extend
the sunset date of the program from 6/30/2027 to 6/30/2031.
Section 2 amends the real property tax law to extend the application
date from 3/15/2026 to 3/15/2030.
Section 3 sets the effective date.
 
JUSTIFICATION:
Green roofs provide multiple important benefits for municipalities.
They can help address flash flooding and sewage overflow by retaining
stormwater runoff. This is especially important now due to the increas-
ing frequency of severe weather events such as Hurricane Sandy, Isaias,
and Ida. They help improve air quality, reduce greenhouse gas emissions,
mitigate the urban heat island effect, and increase biodiversity. These
effects provide a significant benefit to the city, easing the strain on
the city's storm-water and sewage systems, lowering energy demand and
enhancing quality of life.
This bill would extend the Green Roof Tax abatement program for 4 addi-
tional years.
 
PRIOR LEGISLATIVE HISTORY:
This is a new bill.
 
FISCAL IMPLICATIONS:
None to the state
 
EFFECTIVE DATE:
This act shall take effect immediately.

Statutes affected:
S10365: 499-ccc real property tax law, 499-ccc(1) real property tax law