Assembly Actions - Lowercase Senate Actions - UPPERCASE |
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Jan 05, 2022 | referred to real property taxation |
May 05, 2021 | referred to real property taxation |
Archive: Last Bill Status - In Assembly Committee
- Introduced
- In Committee
- On Floor Calendar
- Passed Senate
- Passed Assembly
- Delivered to Governor
- Signed/Vetoed by Governor
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A7343 (ACTIVE) - Details
A7343 (ACTIVE) - Bill Text download pdf
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