Adam’s 2008 Green Policy Round-up: NY State

Today I’m looking at this past year’s notable green home related bills from the state legislature – all of which are financial incentive programs that New Yorkers should be aware of.  The legislature reconvenes in ’09, and the possibility of a November transfer of power in the State Senate to Democratic control should be noted (Not as an endorsement of one political party over another, but rather as recognition that the only bills that pass in New York are sponsored by members of each house’s majority party).  A Democratic Legislature and Governor may ease the passage of more green legislation in ’09. A. 10684 / S. 8134 Sponsors: Cahill (D-Ulster, Dutchess) / Maziarz (R-Niagara) Signed Into Law: 9/25/08 Creates a new NYSERDA grant program to provide incentives for green residential construction and renovation.  Grant amounts will be based on a number of considerations, and may not exceed $7,500 for one-family and two-family homes, $11,250 for buildings with three to six dwelling units, and $15,000 for buildings with more than six units.  No owner can receive more than $120,000 in a calendar year.  The program is still under development. A. 11202 / S. 8145 Sponsors: Farrell (D-New York) / Padavan (R-Queens) Signed Into Law: 8/5/08 Creates a four-year tax abatement for the construction of a solar electric generating system in connection with a class one, two or four building in NYC.  Systems in service before January 1, 2011 are eligible for a tax abatement of 8-3/4% of eligible expenditures per year for four years, systems in service between January 1, 2011 and January 1, 2013, are eligible for 5% abatement.  Abatements are limited to the lesser of the amount of taxes payable or $62,500 per year. A. 8669 / S. 2000 Sponsors: Jeffries (D-Kings) / Parker (D-Kings) No action in committee Would amend the NYS Green Building Tax Credit to further extend its provisions to residential construction.  The existing tax credits range from 5% to 8% of the cost of construction or renovation, with additional incentives for photovoltaics and fuel cells. A. 7365 Sponsor: Sweeney (D-Suffolk) Passed the Assembly, no action in the Senate Would dedicate any funds raised from auctioning CO emissions allowances through RGGI to support a range of energy efficiency programs, including those to reduce residential electric utility costs and to utilize renewable energy. Quite a bit….the state also took steps to further incentivize generation of renewable energy, build green affordable housing, and incentivize green roofs (described in an earlier post). Next week I’ll take a look at the City Council’s efforts. – Adam