S T A T E O F N E W Y O R K
________________________________________________________________________
6198
2025-2026 Regular Sessions
I N A S S E M B L Y
February 27, 2025
___________
Introduced by M. of A. R. CARROLL -- 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 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 (f) of subdivision 1 of section 499-bbbb of the
real property tax law, as added 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 ELECTRIC ENERGY STORAGE EQUIPMENT IS PLACED IN SERVICE ON OR
AFTER JANUARY 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
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.
LBD06565-01-5
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