NY S05663

Establishes an affordable residential green building program administered by the authority with incentives for owners constructing new residential buildings meeting affordability requirements.

Defines "affordable" as homebuyer household income not exceeding income limits set by the State of New York Mortgage Agency Low Interest Rate Mortgage Program for non-target, one- and two-person household categories in the county where the property is located.

Requires incentives be based on design and building techniques that promote smart growth, reduce greenhouse gas emissions, achieve energy efficiency, incorporate environmentally responsible products, and create healthy indoor living environments.

Directs the authority to promulgate rules and regulations establishing affordable green residential building standards, criteria, and administrative implementation procedures.

Requires the authority to prepare and post an annual report on the program to its website.