NY governor weighs RE tax break
The New York legislature has sent a bill to Governor Andrew Cuomo that would extend a property tax exemption for solar and wind until 2025.
His office could not immediately confirm that Cuomo will sign the bill into law. Since taking office in January 2011, he has championed renewable energy development, most notably with the NY-Sun Incentive Program.
To take advantage of the 15-year exemption, owners of apartment buildings and homes would need to install qualified renewable energy systems.
Given the potential revenue loss, the bill does allow local and county governments to waive the exemption at their discretion. Cuomo’s office did not return phone calls seeking comment on the bill’s provisions.
Under New York law, a governor must act on the bill within 10 days or it becomeslaw by default.
The bill was sponsored by Democrat Amy Paulin, whose district includes downstate Westchester County.