Establishes tax abatements and exemptions for capital improvements aimed at reducing carbon emissions in eligible properties.

The bill creates an abatement and exemption from real property taxes for capital improvements designed to reduce carbon emissions. It establishes an Energy Efficiency Improvement Board to approve these abatements and exemptions. Eligible properties include class A and B multiple dwellings in cities with a population of one million or more, excluding institutional residences. Eligible improvements include insulation, heating and cooling systems, and energy-efficient appliances. The board sets the duration and amount of tax abatements based on the reduction in greenhouse gas emissions.

Establishes tax abatements and exemptions for capital improvements aimed at reducing carbon emissions in eligible properties.

The bill creates an abatement and exemption from real property taxes for capital improvements designed to reduce carbon emissions. It establishes an Energy Efficiency Improvement Board to approve these abatements and exemptions. Eligible properties include class A and B multiple dwellings in cities with a population of one million or more, excluding institutional residences. Eligible improvements include insulation, heating and cooling systems, and energy-efficient appliances. The board sets the duration and amount of tax abatements based on the reduction in greenhouse gas emissions.