NY A02219

Establishes the "New York state green economic development zones act" to create designated areas that provide tax incentives and economic development benefits for green businesses, with coordination to federal green enterprise zones.

Defines green businesses as those primarily operating in production, service and repair, research and development, or application and installation of green technologies including renewable energy, energy efficiency, clean-fueled vehicles, and greenhouse gas emission reduction technologies.

Provides real property tax exemptions for 10 years (100% for first 7 years, then 75%, 50%, and 25% for years 8-10) on construction and improvements in designated green economic development zones upon local law adoption.

Authorizes multiple tax credits for certified green businesses including investment tax credits (10% of tangible property costs), employment incentive credits (30% of investment credit), wage tax credits ($3,000-$3,500 per employee annually), and utility rate reductions of 3%.

Specifies a green zone in Staten Island bounded by detailed geographic coordinates, allowing eligible green businesses relocating into the zone after July 1, 2011 to receive tax benefits; zones automatically expire after 10 years unless terminated earlier by the Commissioner of Economic Development for failure to implement development plans or achieve business growth.