GREEN ROOF TAX CREDIT
A.5449-a (Dinowitz, et al.)
S.4362-a (Marcellino, et al.)
Summary
This
bill would provide a green roof installation tax credit for of up to 55
percent of the cost of qualified installation expenditures on
residential property, not exceeding $5,000. The measure would require
the Commissioner of the New York State Department of Environmental
Conservation (DEC) to set standards for the plant material used in green
roof construction and require the inspection of green roof installations
against these standards.
Explanation
Green roof technology provides a
number of environmental benefits. Green roofs can help reduce building
cooling needs, thus saving electricity and preventing air pollution.
Green roofs can help cool air temperatures and provide a check against
the urban heat island effect, which occurs when hard surfaces, such as
asphalt and concrete, radiate the sun’s energy and keep urban areas
several degrees warmer than surrounding areas. Cooler air temperatures
can have important health benefits for urban residents most vulnerable
to extreme heat, especially children and the elderly. Green roof
technology can also reduce the amount of runoff into sewer systems.
Due to all
these environmental and energy-saving benefits, increased installations
of green roofs will result in benefits to all New Yorkers. However, the
cost of such projects often prevents residential building owners from
exploring such improvements. By creating a green roof tax credit, this
bill would provide a strong financial incentive that would encourage
more New Yorkers to consider installing this beneficial infrastructure.
Environmental
Advocates of New York supports this bill.
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