N.Y. Real Property Tax Law 499-AAAA – Definitions
§ 499-aaaa. Definitions. When used in this title, the following terms shall have the following meanings:
Terms Used In N.Y. Real Property Tax Law 499-AAAA
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Department of finance: shall mean the department of finance of a city having a population of one million or more persons. See N.Y. Real Property Tax Law 499-AAAA
- Designated agency: shall mean one or more agencies or departments of a city having a population of one million or more persons that are designated by the mayor of such city to exercise the functions, powers and duties of a designated agency pursuant to this title. See N.Y. Real Property Tax Law 499-AAAA
- Electric energy storage equipment: means a set of technologies capable of storing electric energy and releasing that energy as electric power at a later time. See N.Y. Real Property Tax Law 499-AAAA
- Eligible building: shall mean a class one, class two or class four real property, as defined in subdivision one of section eighteen hundred two of this chapter, located within a city having a population of one million or more persons. See N.Y. Real Property Tax Law 499-AAAA
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
- Solar electric generating system: shall mean a system that uses solar energy to generate electricity. See N.Y. Real Property Tax Law 499-AAAA
1. "Applicant" shall mean (a) with respect to an eligible building held in the cooperative or condominium form of ownership, the board of managers of a condominium or the board of directors of a cooperative apartment corporation, or (b) with respect to any other eligible building, the owner of such building.
2. "Application for tax abatement" shall mean an application for a solar electric generating system and/or electric energy storage equipment tax abatement pursuant to section four hundred ninety-nine-cccc of this title.
3. "Architect" shall mean a person licensed and registered to practice the profession of architecture under the education law.
4. "Compliance period" shall mean the tax year in which a tax abatement commences and the three tax years immediately thereafter.
5. "Department of finance" shall mean the department of finance of a city having a population of one million or more persons.
6. "Designated agency" shall mean one or more agencies or departments of a city having a population of one million or more persons that are designated by the mayor of such city to exercise the functions, powers and duties of a designated agency pursuant to this title.
7. "Eligible building" shall mean a class one, class two or class four real property, as defined in subdivision one of section eighteen hundred two of this chapter, located within a city having a population of one million or more persons. No building shall be eligible for more than one tax abatement pursuant to this title prior to January first, two thousand twenty-four.
8. "Eligible solar electric generating system expenditures" and "eligible electric energy storage equipment expenditures" shall mean reasonable expenditures for materials, labor costs properly allocable to on-site preparation, assembly and original installation, architectural and engineering services, and designs and plans directly related to the construction or installation of a solar electric generating system and/or electric energy storage equipment installed in connection with an eligible building. Solar parking canopy structures shall be considered a solar electric generating system for the purposes of this subdivision. Such eligible expenditures shall not include interest or other finance charges, or any expenditures incurred using a federal, state or local grant.
9. "Engineer" shall mean a person licensed and registered to practice the profession of engineering under the education law.
10. "Solar electric generating system" shall mean a system that uses solar energy to generate electricity. Such system shall not include any equipment connected to a solar electric generating system that is a component of part or parts of a non-solar electric generating system or that uses any sort of recreational facility or equipment as a storage medium.
11. "Electric energy storage equipment" means a set of technologies capable of storing electric energy and releasing that energy as electric power at a later time. Electric energy storage technologies may store energy as potential, kinetic, chemical or thermal energy that can be released as electric power, and include, but are not limited to, various types of batteries, flywheels, electrochemical capacitors, compressed air storage and thermal storage devices.