Actually, I like what he wants to accomplish, but I thought that this bill really does go too far. 
The heat island is caused by our roofs, parking lots and roads. Roofs and Parking lots are IDEAL for covering. But, going after the tall buildings, really is not that useful. 

Instead, a far better idea is to do 2 things:
1) require that any leased residence,office, building, upon having a tenant turn-over, to convert all of their lights to having at LEAST 65 lumens / watt. For residence indoors, they are not allowed to use hazmat bulbs (i.e. not CFL/fluorescent). Also, this needs to apply to all buildings below 5 stories that change owners (including new owners).  
2) require that all new buildings of 5 stories and under to have enough on-site UNSUBSIDIZED AE to equal/exceed the amount of energy used by the HVAC (on a monthly basis). This will encourage builders to build efficient buildings, use geo-thermal HVAC, and then have small amounts of solar. Costs are minor and are recouped.