4 September 2012 — New York Governor Andrew Cuomo has signed legislation which allows municipal corporations to provide a real property tax exemption for improvements to Leadership in Energy and Environmental Design or other green initiative certified buildings. Under the new law, the exemption would apply to construction projects starting on, or after, 1 January next year. The real property improvement needs to be documented by a building report and the project must have a value of more than US$10,000.  Individual municipal corporations can now decide whether to adopt the exemption. Read more at: www.ryan.com/Tax-Developments-2012.aspx?newsid=1475