Under this law, building owners in New York City who install green roofs on at least 50 percent of available rooftop space can apply for a one-year property tax credit of up to $100,000. The credit would be equal to $4.50 per square-foot of roof area that is planted with vegetation, or approximately 25 percent of the typical costs associated with the materials, labor, installation and design of the green roof.

The legislation was championed by the S.W.I.M. (Storm Water Infrastructure Matters) Coalition, comprised of more than 50 city, state and national organizations dedicated to ensuring fishable and swimmable waters around New York through natural, sustainable storm water management practices. The S.W.I.M. Coalition, building off of its recent success in the passage of New York City Local Law 5, advocated for the passage of this green roof tax abatement. Advocacy included working with Assembly Member Diaz, Jr. to sponsor the bill, and meeting with key elected officials in Albany this May to recommend that it be passed this session.

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Building owners will be able to apply for the credit starting Jan. 1, 2009. This is a pilot program that will expire after March 15, 2013, unless it is extended.

Find out more about the S.W.I.M. Coalition at: www.swimmablenyc.info.