NY S06169

Authorizes cities with populations of one million or more (New York City) to provide property tax abatements and exemptions for building improvements that reduce carbon emissions

Eligible improvements include building electrification, envelope improvements, onsite clean energy generation, energy storage, and electric vehicle charging infrastructure, with work commencing on or after January 1, 2023 and completed by December 31, 2030

Property tax exemptions on increased assessed value from eligible improvements may last up to 20 years, and abatements may also extend up to 20 years but cannot exceed the cost of improvements

Benefits may be revoked for false applications, unpaid taxes or municipal charges exceeding one year, failure to submit required reports to NYC Department of Buildings, or uncured deficiencies after 90-day notice

The law expires and is repealed on December 31, 2030, and benefits can be combined with other state, local, or federal programs