Provides that residential buildings shall be deemed eligible buildings for the green building tax credit.
Summary
This bill amends the New York tax law governing the green building tax credit to make residential buildings eligible for the credit. Under current law, the credit applies to certain qualifying green buildings; this bill adds “any residential building” to the list of eligible buildings, while also preserving an exclusion for buildings located on certain freshwater wetlands, tidal wetlands, or other wetlands requiring specified environmental permits. The bill takes effect immediately if enacted.
In practical terms, the measure would expand access to the green building tax credit beyond the types of buildings already covered, allowing owners or developers of residential projects to seek the credit if the project otherwise meets the program’s requirements. The bill does not create a new credit amount or change the mechanics of the tax credit itself; rather, it broadens the class of properties that may qualify under existing law.
Impact
The bill would amend section 19 of the Tax Law, specifically the eligibility provisions for the green building tax credit, by adding residential buildings as eligible buildings. This would affect residential property owners, developers, and potentially builders seeking tax incentives for environmentally beneficial construction or renovation. The wetlands-related exclusions remain in place, so projects in sensitive environmental areas would still be barred if they require the listed permits.
Sentiment
Based on the bill text and available context, the measure appears to be framed as a pro-development, pro-green-building incentive with an environmental policy rationale. There are no recorded committee transcripts or votes provided, so there is no documented opposition or support in the available materials. The sponsor’s choice to expand eligibility suggests a generally favorable posture toward encouraging greener residential construction through tax policy.
Contention
The main point of potential contention is the expansion of a tax credit to residential buildings, which could raise concerns about state revenue loss, program cost, or whether the credit should be limited to certain commercial or mixed-use projects. Another possible issue is whether the credit would be sufficiently targeted to ensure environmental benefits rather than subsidizing projects that would have been built anyway. The bill also preserves environmental exclusions for wetlands, indicating that environmental protection remains a boundary on eligibility.
Providing for testing for dangerous levels of radon and remediation measures in school buildings, residential buildings, residential homes and commercial buildings; and imposing penalties.
Creates an exception in the uniform fire prevention and building code for zero on-site greenhouse gas emissions for buildings whose building permit was issued prior to a certain date.