In addition to mandatory green public buildings, there are many ways in which states can promote the use of green building standards for private developers.

Some states, like Maryland and Oregon, offer a tax credit as an incentives for developers to adopt green building standards.

Other states, like Nevada, offer tax abatement for property which adheres to a specific LEED rating and offers tax exemptions for products or materials used in the construction of LEED Silver buildings.

In this session:

• Hawaii SB 598 would provide a general excise tax exemption for buildings or facilities that conform to the LEED rating system.
     
• Maryland HB 778 would allow green building tax credits to be transferred from one individual or business to another individual or business under specified circumstances.

Successful Incentives: New York State's Green Building tax credit has helped create incentives for green building. In New York City, famous for its sky-high buildings, construction has begun on a 55-story tower, the most prominent addition to New York's skyline in a generation.  The Bank of America Tower at One Bryant Park will be the most energy-efficient, water-saving, and healthful office tower ever built.  The green skyscraper will also be the second-highest structure in the city. The building will have on-site energy generation, which will slash losses from long-distance transmission of power.  It will also eliminate about 40 percent of the fresh water a regular building would need by collecting rainwater and recycling non-tainted water, resulting in annual savings of 10.3 million gallons of fresh water.

Adding to the cost savings, the building will have floor to ceiling windows and maximize sunlight.  Cleaner air and more daylight have been proven to increase worker productivity. Better air quality decreases the incidence of illness.  It's estimated that a 1 percent reduction in employee-illness will result in a $10 million boost in productivity every year.

New York City also hosts a Green Building Competition to encourage further development in green engineering and design.  The winning projects get displayed and ideas that come out of the competition are integrated into the city's green building principles.

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