S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   5931
 
                        2025-2026 Regular Sessions
 
                           I N  A S S E M B L Y
 
                             February 25, 2025
                                ___________
 
 Introduced  by  M.  of  A. R. CARROLL, DINOWITZ, COLTON, EPSTEIN, SIMON,
   HYNDMAN -- Multi-Sponsored by -- M. of A.  DAVILA  --  read  once  and
   referred to the Committee on Real Property Taxation
 
 AN  ACT  to  amend the real property tax law, in relation to providing a
   tax abatement for geothermal well systems in cities of one million  or
   more

   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. The title heading of title 4-C of article  4  of  the  real
 property  tax  law,  as  amended  by chapter 412 of the laws of 2018, is
 amended to read as follows:
               SOLAR ELECTRIC GENERATING SYSTEM, GEOTHERMAL
             WELL SYSTEM AND ELECTRIC ENERGY STORAGE EQUIPMENT
   TAX ABATEMENT FOR CERTAIN PROPERTIES IN A CITY OF ONE MILLION OR MORE
                                  PERSONS
   § 2. Subdivisions 2 and 8 of section 499-aaaa of the real property tax
 law, as amended by chapter 485 of the laws of 2023, are  amended  and  a
 new subdivision 12 is added to read as follows:
   2.  "Application  for  tax  abatement" shall mean an application for a
 solar electric generating system, GEOTHERMAL WELL SYSTEM,  and/or  elec-
 tric  energy  storage  equipment  tax abatement pursuant to section four
 hundred ninety-nine-cccc of this title.
   8. "Eligible solar electric generating system expenditures", "ELIGIBLE
 GEOTHERMAL WELL SYSTEM EXPENDITURES" and "eligible electric energy stor-
 age equipment expenditures" shall mean reasonable expenditures for mate-
 rials, labor costs properly allocable to on-site  preparation,  assembly
 and  original  installation, architectural and engineering services, and
 designs and plans directly related to the construction  or  installation
 of  a  solar  electric  generating system, GEOTHERMAL WELL SYSTEM and/or
 electric energy storage equipment installed in connection with an eligi-
 ble building. Solar parking canopy  structures  shall  be  considered  a

  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD07643-01-5
              

 A. 5931                             2
 
 solar  electric  generating system for the purposes of this subdivision.
 Such eligible expenditures shall not include interest or  other  finance
 charges,  or  any  expenditures incurred using a federal, state or local
 grant.
   12.  "GEOTHERMAL  WELL  SYSTEM"  MEANS A SYSTEM WHICH USES THE EARTH'S
 NATURAL TEMPERATURE UNDER THE GROUND TO HEAT AND/OR COOL A BUILDING.
   § 3. Paragraph (f) of subdivision 1 of section 499-bbbb  of  the  real
 property  tax  law,  as  amended  by chapter 485 of the laws of 2023, is
 amended and a new paragraph (g) is added to read as follows:
   (f) if the solar electric generating  system  and/or  electric  energy
 storage system is placed in service on or after January first, two thou-
 sand  twenty-four,  and  before January first, two thousand thirty-five,
 for each year of the compliance period such tax abatement shall  be  the
 lesser  of  (i)  seven  and  one-half percent of eligible solar electric
 generating system and/or energy storage system  expenditures,  (ii)  the
 amount  of  taxes  payable in such tax year, or (iii) sixty-two thousand
 five hundred dollars[.]; OR
   (G) IF A GEOTHERMAL WELL SYSTEM IS PLACED IN SERVICE ON OR AFTER JANU-
 ARY FIRST, TWO THOUSAND TWENTY-SEVEN,  AND  BEFORE  JANUARY  FIRST,  TWO
 THOUSAND  TWENTY-NINE,  FOR  EACH YEAR OF THE COMPLIANCE PERIOD SUCH TAX
 ABATEMENT SHALL BE THE LESSER OF (I) TEN PERCENT OF ELIGIBLE  GEOTHERMAL
 WELL  SYSTEM  EXPENDITURES, (II) THE AMOUNT OF TAXES PAYABLE IN SUCH TAX
 YEAR, OR (III) SIXTY-TWO THOUSAND FIVE HUNDRED DOLLARS.
   § 4. Subdivisions 1 and 3 of section 499-cccc of the real property tax
 law, subdivision 1 as amended by chapter 485 of the  laws  of  2023  and
 subdivision 3 as amended by chapter 412 of the laws of 2018, are amended
 to read as follows:
   1. To obtain a tax abatement pursuant to this title, an applicant must
 file  an  application  for tax abatement, which may be filed on or after
 January first, two thousand nine, and on or before  January  first,  two
 thousand  thirty-six    FOR  ELIGIBLE  SOLAR  ELECTRIC GENERATING SYSTEM
 EXPENDITURES AND ELIGIBLE ELECTRIC ENERGY STORAGE EXPENDITURES AND ON OR
 AFTER JANUARY FIRST, TWO THOUSAND TWENTY-SEVEN, AND ON  OR BEFORE  MARCH
 FIFTEENTH,  TWO THOUSAND TWENTY-NINE FOR ELIGIBLE GEOTHERMAL WELL SYSTEM
 EXPENDITURES.
   3. Such application shall contain the following:
   (a) The name and address of the applicant  and  the  location  of  the
 solar electric generating system, GEOTHERMAL WELL SYSTEM or the electric
 energy storage equipment.
   (b)  Proof  that  the  applicant received all required certifications,
 permits and other approvals to construct the solar  electric  generating
 system, GEOTHERMAL WELL SYSTEM or the electric energy storage equipment.
   (c)  Certifications  in a form prescribed by a designated agency, from
 an architect, engineer or other certified or licensed professional  whom
 a designated agency designates by rule, that (i) a solar electric gener-
 ating  system,  GEOTHERMAL WELL SYSTEM or electric energy storage equip-
 ment has been placed in service in connection with an eligible  building
 in  accordance  with  this  title,  the rules promulgated hereunder, and
 local construction and fire codes, and (ii) if the solar electric gener-
 ating system, GEOTHERMAL WELL SYSTEM or electric energy  storage  equip-
 ment  has been placed on the roof of a building or other structure, that
 a structural analysis has been performed establishing that such building
 or structure can sustain the load  of  such  solar  electric  generating
 system, GEOTHERMAL WELL SYSTEM or electric energy storage equipment. All
 certifications required by this title or the rules promulgated hereunder
 shall  set  forth  the specific findings upon which the certification is
 A. 5931                             3
 
 based, and shall include information sufficient to identify the eligible
 building, the certifying engineer, architect or other professional,  and
 such other information as may be prescribed by a designated agency.
   (d)  An  agreement  to  permit  a designated agency or its designee to
 inspect the solar electric generating system, GEOTHERMAL WELL SYSTEM  or
 electric  energy storage equipment and any related structures and equip-
 ment upon reasonable notice.
   (e) Any other information or certifications required by  a  designated
 agency pursuant to this title and the rules promulgated hereunder.
   §  5.  Subdivision 1 of section 499-dddd of the real property tax law,
 as amended by chapter 412 of the laws of 2018, is  amended  to  read  as
 follows:
   1.  continuing compliance during the compliance period with all appli-
 cable  provisions  of  law,  including  without  limitation  the   local
 construction  and  fire codes, maintaining the solar electric generating
 system or electric energy storage equipment in such  a  manner  that  it
 continuously  constitutes a solar electric generating system, GEOTHERMAL
 WELL SYSTEM or electric energy storage equipment within the  meaning  of
 this  title and the rules promulgated hereunder, and permitting a desig-
 nated agency or its designee to inspect the  solar  electric  generating
 system,  GEOTHERMAL WELL SYSTEM or electric energy storage equipment and
 any related structures and equipment upon reasonable notice; and
   § 6. Paragraphs (c) and (d) of subdivision 1 of  section  499-eeee  of
 the  real  property  tax  law,  as amended by chapter 412 of the laws of
 2018, are amended to read as follows:
   (c) the solar electric generating system, GEOTHERMAL  WELL  SYSTEM  or
 electric  energy storage equipment for which a tax abatement was granted
 has at any time during the compliance period failed to meet any require-
 ment for a solar electric generating system, GEOTHERMAL WELL  SYSTEM  or
 electric  energy  storage  equipment  pursuant to this title or any rule
 promulgated hereunder;
   (d) the solar electric generating system, GEOTHERMAL  WELL  SYSTEM  or
 electric  energy storage equipment has become a fire or safety hazard at
 any time during the compliance period; or
   § 7. Paragraphs (b), (c) and (d) of subdivision 2 of section  499-ffff
 of  the  real property tax law, as amended by chapter 412 of the laws of
 2018, are amended to read as follows:
   (b) to inspect solar  electric  generating  systems,  GEOTHERMAL  WELL
 SYSTEMS  or electric energy storage equipment and any related structures
 and equipment;
   (c) to establish permit or  certification  requirements  to  determine
 when  the  solar  electric  generating system, GEOTHERMAL WELL SYSTEM or
 electric energy storage equipment has been placed in  service,  such  as
 certification  by  an architect, engineer or other certified or licensed
 professional whom a designated agency designates by rule;
   (d) to establish guidance and procedures for determining or certifying
 eligible solar electric generating system,  GEOTHERMAL  WELL  SYSTEM  or
 electric energy storage equipment expenditures;
   § 8. This act shall take effect immediately.