NY Governor Signs Bill
By Caitlin Jones & A. J. Johnson
1 min read
New York State Gov. David Patterson recently signed legislation (A.11226/S.7553) that authorizes a new tax abatement for the construction of “green” roofs on buildings in New York City. Under the pilot, which runs until 3/15/13, building owners who install green roofs on at least 50% of available rooftop space can apply for a one-year property tax credit from the city. The abatement amount is $4.50 per square foot of green roof, up to a maximum $100,000.
Separately, the governor on 9/15/08 received a recently passed bill that would modify and enhance the state’s historic rehabilitation tax credit program. The governor had 10 days to sign the measure; preservation advocates were urging him to do so.
