Assembly Actions - Lowercase Senate Actions - UPPERCASE |
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Jan 11, 2023 | referred to real property taxation |
Current 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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A639 (ACTIVE) - Details
A639 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 639 2023-2024 Regular Sessions I N A S S E M B L Y January 11, 2023 ___________ 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-SIX, AND BEFORE JANUARY FIRST, TWO THOUSAND TWENTY-EIGHT, 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. § 2. This act shall take effect immediately. EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD00553-01-3