QUESTION
What new categories of work beyond Local Law 97 will be eligible for the J51 tax exemption program?
1:34:19
·
48 sec
The major building system work that owners have traditionally used the J51 program for will remain eligible.
- Replacement systems must meet efficiency requirements, like prohibiting single pane windows
- For roof replacements, insulation will also be required
- While major system eligibility remains, there is an additive focus on enhancing energy efficiency
Pierina Ana Sanchez
1:34:19
In addition to local law 97 related work, are there other new categories of work that are going to be eligible for J51?
Kim Darga
1:34:27
I think the major systems work that has been there, that has been commonly used, by building owners will remain.
1:34:35
I think what we're really we've been looking to do is make sure that the requirements for the replace system are also efficient, meaning you can't do a single pane window.
1:34:48
Right?
1:34:48
Like, that's a that's a very good example.
1:34:50
When you're doing the roof, we're looking at insulation as well.
1:34:53
So it's really additive, but the standard the big systems that building owners have that they have to replace or repair over a long period of time will remain.
Pierina Ana Sanchez
1:35:04
Got it.
1:35:06
Thank you.