Relates to the assessment of solar or wind energy systems, the official text

S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   8012
 
                        2025-2026 Regular Sessions
 
                             I N  S E N A T E
 
                               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:
 
   Section 1. Paragraph (c) of subdivision 1 of section 575-b of the real
 property  tax  law, as added by section 3 of part X of chapter 59 of the
 laws of 2021, is amended and two new paragraphs (d) and (e) are added to
 read as follows:
   (c) In the formulation of such a model and discount rate, the New York
 state department of taxation and finance shall consult with the New York
 State Assessors Association. Provided, further, in  the  formulation  of
 such  a  model and discount rate, the New York state department of taxa-
 tion and finance shall be authorized to take into account  economic  and
 cost  characteristics  of  such solar and wind energy systems located in
 different geographic regions of  the  state  and  consider  regionalized
 market  pressures in the formulation of the appraisal model and discount
 rate required under this section[.]; AND
   (D) HOST COMMUNITY BENEFIT PAYMENTS MADE PURSUANT TO PART JJJ OF CHAP-
 TER FIFTY-EIGHT OF THE LAWS OF TWO THOUSAND TWENTY, EXPENSES  ASSOCIATED
 WITH  DECOMMISSIONING  OF  SOLAR  AND WIND ENERGY SYSTEMS, AND COMMUNITY
 SOLAR SUBSCRIBER MANAGEMENT COSTS ASSOCIATED WITH SOLAR  ENERGY  SYSTEMS
 SHALL BE INCLUDED AS EXPENSES; AND
   (E)  FEDERAL  INVESTMENT  AND  PRODUCTION  TAX  CREDITS GRANTED BY THE
 INTERNAL REVENUE CODE AND ENVIRONMENTAL VALUES, INCLUDING BUT NOT LIMIT-
 ED TO, RENEWABLE ENERGY CREDITS, SHALL BE DEEMED INTANGIBLE  ASSETS  AND
 NOT INCLUDED AS REVENUE STREAMS.
   § 2. Section 575-b of the real property tax law is amended by adding a
 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
 
   5.  ANY  ASSESSING  UNIT  ESTABLISHING  VALUATIONS ON THE BASIS OF THE
 MODEL PUBLISHED BY THE DEPARTMENT IN TWO THOUSAND TWENTY-FIVE, INCLUDING
 AN ASSESSING UNIT THAT HAS STIPULATED TO RELY ON SUCH MODEL TO SETTLE  A
 PROCEEDING  TO REVIEW AN ASSESSMENT OF REAL PROPERTY PURSUANT TO ARTICLE
 SEVEN  OF  THIS  CHAPTER,  SHALL  NOT  BE SUBJECT TO IMPOSITION OF COSTS
 PURSUANT TO SECTION SEVEN HUNDRED TWENTY-TWO OF THIS CHAPTER.
   § 3. This act shall take effect immediately.