Law.com Subscribers SAVE 30%
Call 855-808-4530 or email [email protected] to receive your discount on a new subscription.
The Impact of Local Law 97
Local Law Number 97 of 2019 (as amended by Local Law Number 147 of 2019, "Local Law 97") was enacted by the City of New York to amend the New York City Charter and Administrative Code to achieve reductions in greenhouse gas emissions by 2050 (See, §28-320 and §28-321 of the Administrative Code). The specific goal of Local 97 is to reduce city-wide carbon emissions by forty percent (40%) by 2030 and a total of eighty percent (80%) by 2050. This is accomplished by requiring buildings to retrofit their systems with more energy efficient systems or purchase certain permitted carbon offsets.
Requirements
Local Law 97 includes specific carbon limits depending on a building's size, property type and the compliance year. Starting in the 2024 calendar year, the law assigns emissions limits for sixty (60) different property types that reflect the wide variation in energy use among buildings. Carbon caps become more stringent over a series of compliance periods, so each building will be allowed to emit less carbon over time in the following periods: 2024-2029, 2030-2034, 2035-2039, 2040-2049, and 2050 and thereafter.
As of Jan. 19, 2023, the New York City Department of Buildings added new rule 103-14 to implement Local Law 97 by establishing the procedures for reporting on complying with annual greenhouse gas emissions limits for buildings. The rules establishes the building emission limits, or emission factors, for different property types and provides the formula for calculating a building's annual emissions limit. The law assigns a "carbon coefficient" to specify the carbon content for each fuel type. A building's annual emissions are determined by combining total energy use for each fuel type multiplied by its corresponding carbon coefficient.
This premium content is locked for Entertainment Law & Finance subscribers only
ENJOY UNLIMITED ACCESS TO THE SINGLE SOURCE OF OBJECTIVE LEGAL ANALYSIS, PRACTICAL INSIGHTS, AND NEWS IN ENTERTAINMENT LAW.
- Stay current on the latest information, rulings, regulations, and trends
- Includes practical, must-have information on copyrights, royalties, AI, and more
- Tap into expert guidance from top entertainment lawyers and experts
Already a have an account? Sign In Now Log In Now
For enterprise-wide or corporate acess, please contact Customer Service at [email protected] or 877-256-2473
Major Differences In UK, U.S. Copyright Laws
This article highlights how copyright law in the United Kingdom differs from U.S. copyright law, and points out differences that may be crucial to entertainment and media businesses familiar with U.S law that are interested in operating in the United Kingdom or under UK law. The article also briefly addresses contrasts in UK and U.S. trademark law.
The Article 8 Opt In
The Article 8 opt-in election adds an additional layer of complexity to the already labyrinthine rules governing perfection of security interests under the UCC. A lender that is unaware of the nuances created by the opt in (may find its security interest vulnerable to being primed by another party that has taken steps to perfect in a superior manner under the circumstances.
Strategy vs. Tactics: Two Sides of a Difficult Coin
With each successive large-scale cyber attack, it is slowly becoming clear that ransomware attacks are targeting the critical infrastructure of the most powerful country on the planet. Understanding the strategy, and tactics of our opponents, as well as the strategy and the tactics we implement as a response are vital to victory.
Removing Restrictive Covenants In New York
In Rockwell v. Despart, the New York Supreme Court, Third Department, recently revisited a recurring question: When may a landowner seek judicial removal of a covenant restricting use of her land?
Legal Possession: What Does It Mean?
Possession of real property is a matter of physical fact. Having the right or legal entitlement to possession is not "possession," possession is "the fact of having or holding property in one's power." That power means having physical dominion and control over the property.