STATE OF NEW YORK
________________________________________________________________________
639--A
2023-2024 Regular Sessions
IN ASSEMBLY
January 11, 2023
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Introduced by M. of A. CARROLL -- read once and referred to the Commit-
tee on Real Property Taxation -- recommitted to the Committee on Real
Property Taxation in accordance with Assembly Rule 3, sec. 2 --
committee discharged, bill amended, ordered reprinted as amended and
recommitted to said committee
AN ACT to amend the real property tax law, in relation to providing a
tax abatement for electric energy storage equipment
The People of the State of New York, represented in Senate and Assem-bly, do enact as follows:
1 Section 1. Paragraph (f) of subdivision 1 of section 499-bbbb of the
2 real property tax law, as added by chapter 485 of the laws of 2023, is
3 amended and a new paragraph (g) is added to read as follows:
4 (f) if the solar electric generating system and/or electric energy
5 storage system is placed in service on or after January first, two thou-
6 sand twenty-four, and before January first, two thousand thirty-five,
7 for each year of the compliance period such tax abatement shall be the
8 lesser of (i) seven and one-half percent of eligible solar electric
9 generating system and/or energy storage system expenditures, (ii) the
10 amount of taxes payable in such tax year, or (iii) sixty-two thousand
11 five hundred dollars[.]; or
12 (g) if electric energy storage equipment is placed in service on or
13 after January first, two thousand twenty-six, and before January first,
14 two thousand twenty-eight, for each year of the compliance period such
15 tax abatement shall be the lesser of (i) ten percent of eligible elec-
16 tric energy storage equipment expenditures, (ii) the amount of taxes
17 payable in such tax year, or (iii) sixty-two thousand five hundred
18 dollars.
19 § 2. This act shall take effect immediately.
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[] is old law to be omitted.
LBD00553-03-4
