STATE OF NEW YORK
________________________________________________________________________
8012
2025-2026 Regular Sessions
IN SENATE
May 15, 2025
___________
Introduced by Sen. HARCKHAM -- read twice and ordered printed, and when
printed to be committed to the Committee on Local Government
AN ACT to amend the real property tax law, in relation to the assessment
of solar or wind energy systems
The People of the State of New York, represented in Senate and Assem-bly, do enact as follows:
1 Section 1. Paragraph (c) of subdivision 1 of section 575-b of the real
2 property tax law, as added by section 3 of part X of chapter 59 of the
3 laws of 2021, is amended and two new paragraphs (d) and (e) are added to
4 read as follows:
5 (c) In the formulation of such a model and discount rate, the New York
6 state department of taxation and finance shall consult with the New York
7 State Assessors Association. Provided, further, in the formulation of
8 such a model and discount rate, the New York state department of taxa-
9 tion and finance shall be authorized to take into account economic and
10 cost characteristics of such solar and wind energy systems located in
11 different geographic regions of the state and consider regionalized
12 market pressures in the formulation of the appraisal model and discount
13 rate required under this section[.]; and
14 (d) Host community benefit payments made pursuant to part JJJ of chap-
15 ter fifty-eight of the laws of two thousand twenty, expenses associated
16 with decommissioning of solar and wind energy systems, and community
17 solar subscriber management costs associated with solar energy systems
18 shall be included as expenses; and
19 (e) Federal investment and production tax credits granted by the
20 Internal Revenue Code and environmental values, including but not limit-
21 ed to, renewable energy credits, shall be deemed intangible assets and
22 not included as revenue streams.
23 § 2. Section 575-b of the real property tax law is amended by adding a
24 new subdivision 5 to read as follows:
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[] is old law to be omitted.
LBD11928-01-5
S. 8012 2
1 5. Any assessing unit establishing valuations on the basis of the
2 model published by the department in two thousand twenty-five, including
3 an assessing unit that has stipulated to rely on such model to settle a
4 proceeding to review an assessment of real property pursuant to article
5 seven of this chapter, shall not be subject to imposition of costs
6 pursuant to section seven hundred twenty-two of this chapter.
7 § 3. This act shall take effect immediately.
