s is occurring in many idea, our country is based on
states, New York is trying capitalist methods. If green
to promote Green Building building isn't cost efficient, no
practices. The state is doing it developer is going to pursue it
by offering tax credits as because doing so will give their
financial incentives. competition a price advantage.
This is where the New York Green
New York Green Building Building Initiative comes in.
Initiative
The Initiative addresses the cost
The concept of green building impact of green building by
isn't particularly old and has creating financial incentives to
arisen as a result of a better promote the process. By going
understanding of the impact of green, developers are given
buildings on people and the breaks through tax credits. The
environment. Ideally, green state is one of the first in the
buildings are designed to use nation to provide such an
non-polluting energy, recyclable incentive system, which is a
resources and systems that avoid major incentive. The advantage of
health impacting elements. These tax credits over other incentives
buildings are extremely is they are incredibly useful in
environmentally friendly, provide reducing tax liability. Unlike a
healthier environments for tax deduction which comes off of
workers and decrease the heat and gross revenues, tax credits are
pollutant situations found in used to reduce the actual amount
tightly packed structure and of tax owed. For instance, if is
population areas such as New York a developer owes $5 million in
City. taxes and gets a $2 million
dollar tax credit, it has to pay
While green building is a nice $3 million in taxes.
program and the application
The New York Green Building process.
Initiative offers developers tax
credits of up to $2 million The New York Green Building
dollars for using green building Initiative represents another
techniques when building step in the recognition of the
structures. The program is in impact our society has on the
place until 2014. The Initiative environment. By promoting better
is run by the New York State building practices with tax
Department of Environmental credits, New York is the model
Conservation, which can provide for promoting green building.
you with more information on the
About the Author:
Rick Chapo is with http://www.solarcompanies.com - a directory of solar energy and solar power companies. Visit http://www.solarcompanies.com/articles to read more solar electricity articles.
Source: www.isnare.com
