Bill > S06169

This bill establishes a tax abatement and exemption program specifically designed to incentivize carbon emissions reduction in cities with a population of one million or more, such as New York City. The legislation allows local governments to provide property tax benefits for capital improvements that reduce greenhouse gas emissions, such as building electrification, energy efficiency upgrades, installation of clean energy generation, storage systems, and electric vehicle charging infrastructure. Eligible properties can receive up to a 20-year exemption or abatement on property taxes, not exceeding the cost of the improvements, for projects completed between 2023 and 2030. The bill is part of New York's broader climate strategy, including the Climate Leadership and Community Protection Act (CLCPA), which aims to reduce greenhouse gas emissions by 40% by 2030 and 85% by 2050. Notably, the legislation allows these tax benefits to be used in conjunction with other state, local, or federal incentives, and includes provisions for revoking the benefits if property owners violate building codes or fail to submit required documentation. The goal is to encourage significant investment in decarbonizing buildings, which in New York City account for approximately 70% of greenhouse gas emissions.

Government Affairs

https://www.nysenate.gov/legislation/bills/2025/S6169