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New York State Green Building Initiative, NYS Green Building Tax Credit (GBTC) Program Receives an Additional Funding of $25,000,000
The New York State has asked the NY State Department of Environmental Conservation (NYSDEC) to embrace new changes it has recently legislated to 6NYCRR Part 638 -the regulations that govern New York State's Green Building Tax Credit program. The new legislation now makes available an additional $25 million for (green building) tax credit certificates to be issued from the years 2005-2009, puts a cap of $2 million per building, allows for re-allocation of any unused funds, and makes a few other important changes to the program.