Establishes a tax credit for construction or rehabilitation of residential property meeting energy efficiency standards.

New York A02040 amends the tax law to establish a green building credit for taxpayers who construct or rehabilitate qualifying residential real property in conformity with energy efficiency standards set by the National Association of Home Builders or the Leadership in Energy and Environmental Design rating system. The credit is limited to $10,000 and can only be awarded once every ten years.

Establishes a tax credit for construction or rehabilitation of residential property meeting energy efficiency standards.

New York A02040 amends the tax law to establish a green building credit for taxpayers who construct or rehabilitate qualifying residential real property in conformity with energy efficiency standards set by the National Association of Home Builders or the Leadership in Energy and Environmental Design rating system. The credit is limited to $10,000 and can only be awarded once every ten years.