S T A T E O F N E W Y O R K
________________________________________________________________________
7343
2021-2022 Regular Sessions
I N A S S E M B L Y
May 5, 2021
___________
Introduced by M. of A. CARROLL -- read once and referred to the Commit-
tee on Real Property Taxation
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:
Section 1. Paragraph (e) of subdivision 1 of section 499-bbbb of the
real property tax law, as amended by section 1 of item B of subpart H of
part XXX of chapter 58 of the laws of 2020, is amended and a new para-
graph (f) is added to read as follows:
(e) if electric energy storage equipment is placed in service on or
after January first, two thousand nineteen, and before January first,
two thousand twenty-four, for each year of the compliance period such
tax abatement shall be the lesser of (i) ten percent of eligible elec-
tric energy storage equipment expenditures, (ii) the amount of taxes
payable in such tax year, or (iii) sixty-two thousand five hundred
dollars[.]; OR
(F) IF ELECTRIC ENERGY STORAGE EQUIPMENT IS PLACED IN SERVICE ON OR
AFTER JANUARY FIRST, TWO THOUSAND TWENTY-FOUR, AND BEFORE JANUARY FIRST,
TWO THOUSAND TWENTY-SIX, FOR EACH YEAR OF THE COMPLIANCE PERIOD SUCH TAX
ABATEMENT SHALL BE THE LESSER OF (I) TEN PERCENT OF ELIGIBLE ELECTRIC
ENERGY STORAGE EQUIPMENT EXPENDITURES, (II) THE AMOUNT OF TAXES PAYABLE
IN SUCH TAX YEAR, OR (III) SIXTY-TWO THOUSAND FIVE HUNDRED DOLLARS.
§ 2. This act shall take effect immediately.
EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD05591-03-1