S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   8332
 
                        2025-2026 Regular Sessions
 
                           I N  A S S E M B L Y
 
                               May 13, 2025
                                ___________
 
 Introduced by M. of A. LASHER -- read once and referred to the Committee
   on Real Property Taxation
 
 AN ACT to amend the real property tax law, in relation to the assessment
   of solar or wind energy systems
 
   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:

   Section 1. Paragraph (c) of subdivision 1 of section 575-b of the real
 property tax law, as added by section 3 of part X of chapter 59  of  the
 laws of 2021, is amended and two new paragraphs (d) and (e) are added to
 read as follows:
   (c) In the formulation of such a model and discount rate, the New York
 state department of taxation and finance shall consult with the New York
 State  Assessors  Association.  Provided, further, in the formulation of
 such a model and discount rate, the New York state department  of  taxa-
 tion  and  finance shall be authorized to take into account economic and
 cost characteristics of such solar and wind energy  systems  located  in
 different  geographic  regions  of  the  state and consider regionalized
 market pressures in the formulation of the appraisal model and  discount
 rate required under this section[.]; AND
   (D) HOST COMMUNITY BENEFIT PAYMENTS MADE PURSUANT TO PART JJJ OF CHAP-
 TER  FIFTY-EIGHT OF THE LAWS OF TWO THOUSAND TWENTY, EXPENSES ASSOCIATED
 WITH DECOMMISSIONING OF SOLAR AND WIND  ENERGY  SYSTEMS,  AND  COMMUNITY
 SOLAR  SUBSCRIBER  MANAGEMENT COSTS ASSOCIATED WITH SOLAR ENERGY SYSTEMS
 SHALL BE INCLUDED AS EXPENSES; AND
   (E) FEDERAL INVESTMENT AND  PRODUCTION  TAX  CREDITS  GRANTED  BY  THE
 INTERNAL REVENUE CODE AND ENVIRONMENTAL VALUES, INCLUDING BUT NOT LIMIT-
 ED  TO,  RENEWABLE ENERGY CREDITS, SHALL BE DEEMED INTANGIBLE ASSETS AND
 NOT INCLUDED AS REVENUE STREAMS.
   § 2. Section 575-b of the real property tax law is amended by adding a
 new subdivision 5 to read as follows:

  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD11928-01-5
 A. 8332                             2
              

 
   5. ANY ASSESSING UNIT ESTABLISHING VALUATIONS  ON  THE  BASIS  OF  THE
 MODEL PUBLISHED BY THE DEPARTMENT IN TWO THOUSAND TWENTY-FIVE, INCLUDING
 AN  ASSESSING UNIT THAT HAS STIPULATED TO RELY ON SUCH MODEL TO SETTLE A
 PROCEEDING TO REVIEW AN ASSESSMENT OF REAL PROPERTY PURSUANT TO  ARTICLE
 SEVEN  OF  THIS  CHAPTER,  SHALL  NOT  BE SUBJECT TO IMPOSITION OF COSTS
 PURSUANT TO SECTION SEVEN HUNDRED TWENTY-TWO OF THIS CHAPTER.
   § 3. This act shall take effect immediately.