New York S 4077: Relates to establishing instruction in financial literacy for students in sixth through eighth grade

Bill Text

Bill Search and Legislative Information | New York State Assembly 

• 

• 

• 

• 

• 

• 

• 

• 

 Skip to main content 

 New York State Assembly

 Speaker Carl E. Heastie

 --> 
 --> 

 --> 

• 
 Assembly Members 

• 
 Legislative Info 

• 
 Public Hearings 

• 
 Speaker's Press 

• 
 Assembly Reports 

• 
 Committees & More 

• Bill Search Home
• Laws
• Legislative Calendar
• Public Hearing Schedule
• Assembly Calendars
• Assembly Committee Agenda 

 Javascript must be enabled to properly view this page. 

 Bill No.: 

• Summary 
• Actions 
• Committee&nbspVotes 
• Floor&nbspVotes 
• Memo 
• Text 
• LFIN 
• Chamber&nbspVideo/Transcript 
S04077 Summary:

BILL NOS04077 

&nbsp

SAME ASSAME AS A02047

&nbsp

SPONSORPARKER

&nbsp

COSPNSRADDABBO, BAILEY, COMRIE, COONEY, FERNANDEZ, GONZALEZ, GOUNARDES, HOYLMAN-SIGAL, JACKSON, MYRIE,
 SALAZAR, SCARCELLA-SPANTON, SEPULVEDA, STAVISKY

&nbsp

MLTSPNSR

&nbsp

Add §488-b, RPT L

&nbsp

Relates to establishing an abatement and exemption from real property taxes for capital improvements to reduce carbon emissions; establishes an energy efficiency improvement board to approve the abatements and exemptions.

Go to top S04077 Actions:

BILL NOS04077 

&nbsp

01/31/2025REFERRED TO LOCAL GOVERNMENT

01/07/2026REFERRED TO LOCAL GOVERNMENT

Go to topS04077 Committee&nbspVotes:

Go to topS04077 Floor&nbspVotes:

There are no Assembly votes for this bill in this legislative session.

Go to topS04077 Text:

 STATE OF NEW YORK
 ________________________________________________________________________

 4077

 2025-2026 Regular Sessions

 IN SENATE

 January 31, 2025
 ___________

 Introduced by Sens. PARKER, ADDABBO, BAILEY, COMRIE, COONEY, FERNANDEZ,
 GONZALEZ, GOUNARDES, HOYLMAN-SIGAL, JACKSON, MYRIE, SALAZAR, SCARCEL-
 LA-SPANTON, SEPULVEDA, STAVISKY -- read twice and ordered printed, and
 when printed to be committed to the Committee on Local Government

 AN ACT to amend the real property tax law, in relation to establishing
 an abatement and exemption from real property taxes for capital
 improvements to reduce carbon emissions; and to repeal such provisions
 upon the expiration thereof

 The People of the State of New York, represented in Senate and Assem-
 bly, do enact as follows:

 1 Section 1. Legislative intent. New York's leading climate law, the
 2 climate leadership and community protection act of 2019 (CLCPA),
 3 requires the state to reduce its greenhouse gas emissions to 40 percent
 4 below 1990 levels by 2030, and 85 percent below 1990 levels by 2050,
 5 among other goals. At the same time, New York city's local law number 97
 6 for the year 2019 requires buildings over 25,000 square feet to reduce
 7 their carbon emissions to comply with increasingly stringent emissions
 8 limits. While New York's building stock accounts for more than 25
 9 percent of statewide greenhouse gas emissions and transportation is a
 10 top emitter, in New York city that ratio is reversed, with buildings
 11 accounting for approximately 70 percent of greenhouse gas emissions. As
 12 such, reaching the state and city's climate goals will require signif-
 13 icant investment to decarbonize buildings including through electrifica-
 14 tion, energy efficiency, and the use of new technologies and energy
 15 sources. The use of this targeted abatement, which would be available to
 16 support all property owners that are meaningfully engaged in reducing
 17 carbon emissions will ensure the success of the CLCPA and local law 97.
 18 This legislation will benefit all New Yorkers by ensuring that our
 19 buildings can play a vital role in decarbonization.
 20 § 2. The real property tax law is amended by adding a new section
 21 488-b to read as follows:

 EXPLANATION--Matter in italics (underscored) is new; matter in brackets
 [ ] is old law to be omitted.
 LBD00341-01-5

 S. 4077 2

 1 § 488-b. Abatement and exemption from real property taxes for capital
 2 improvements to reduce carbon emissions. 1. For the purposes of this
 3 section, the following terms shall have the meanings specified in this
 4 subdivision:
 5 a. "Eligible real property" shall mean a property located within a
 6 city of one million or more that is:
 7 (i) any class B multiple dwelling as defined in the multiple dwelling
 8 law;
 9 (ii) any class A multiple dwelling as defined in the multiple dwelling
 10 law;
 11 Notwithstanding the foregoing, eligible real property shall not
 12 include college and school dormitories, club houses, or residences whose
 13 occupancy is restricted to an institutional use such as housing intended
 14 for use primarily or exclusively by the employees of a single company or
 15 institution. A building is an eligible real property only if it quali-
 16 fies as such after completion of the eligible improvements, but need not
 17 have been an eligible real property prior to the eligible improvements;
 18 (iii) any non-residential, commercial property used primarily for the
 19 buying, s