NY State Senate Bill 2019-S7595

Archive: Last Bill Status - In Senate Committee Cities Committee

Introduced
- In Committee Assembly
- In Committee Senate
- On Floor Calendar Assembly
- On Floor Calendar Senate
- Passed Assembly
- Passed Senate
Delivered to Governor
Signed By Governor

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	Assembly Actions - Lowercase Senate Actions - UPPERCASE
Jan 29, 2020	referred to cities

2019-S7595 (ACTIVE) - Details

See Assembly Version of this Bill:: A8923
Current Committee:: Senate Cities
Law Section:: Real Property Tax Law
Laws Affected:: Amd §§499-bbbb & 499-cccc, RPT L
Versions Introduced in Other Legislative Sessions:: 2021-2022: S3229
2023-2024: S7342

2019-S7595 (ACTIVE) - Summary

Provides for a tax abatement for electric energy storage equipment placed during the 2021 or 2022 tax year.

2019-S7595 (ACTIVE) - Sponsor Memo

                                
 
BILL NUMBER: S7595

SPONSOR: PARKER
 
TITLE OF BILL:

An act to amend the real property tax law, in relation to providing a
tax abatement for electric energy storage equipment

 
PURPOSE OR GENERAL IDEA OF BILL:

To amend the real property tax law to add a tax abatement for electric
energy systems storage equipment for certain properties in a city of one
million or more persons. This will allow for the expenditures related to
running more energy efficient systems to be more affordable in the
effort to increase the use of these systems across New York City.

 
SUMMARY OF SPECIFIC PROVISIONS:

Section one of the bill is amended to add a tax abatement for electric
energy storage equipment for certain properties in a city of one million
or more persons to state that on or after January 1, 2021 and before

January 1, 2023, the amount of the tax abatement would be 10 percent of
eligible electric energy storage equipment expenditures in each year of
the compliance period. However, the benefit in each tax year would be
limited to the lesser of the amount of taxes payable or $62,500.

Section two amends subdivision one of section 499-cccc of the real prop-
erty tax law to require that applicants file the application for the
electric energy storage equipment tax abatement no later than March
15th, 2023 in order to receive the tax abatement.

Section two sets forth the effective date.

 
JUSTIFICATION:

The arrival of safe and reliable onsite energy storage technologies
marks a critical new phase in New York State's efforts to bring clean
renewable energy resources to scale in the coming decades. The mass
integration of distributed energy storage resources is also a fundamen-
tal precondition for achieving a more efficient, resilient and cost-ef-
fective electricity grid for the benefit of ratepayers, public health,
the environment and New York's overall economic competitiveness.
Further, a stable local energy storage industry has the potential to
create local jobs and economic activity, while offering diverse catego-
ries of property owners' additional savings and resiliency benefits.

The most significant impact opportunities for energy storage deployment
are within the greater New York City metropolitan area (NYISO Zone J),
based on the current and future generation, transmission and distrib-
ution demands and challenges that characterize this unique jurisdiction.
During the early phase of local energy storage market development, a
temporary property tax abatement to defray upfront costs for adopters
would help catalyze energy storage deployment in New York City, drive
down unit and installation costs through economies of scale and learning
curve advances, and accelerate the realization of the direct and indi-
rect public benefits that result from such deployment.

 
PRIOR LEGISLATIVE HISTORY:

New bill.

 
FISCAL IMPLICATIONS:

To be determined.

 
EFFECTIVE DATE:
This act shall take effect immediately.

2019-S7595 (ACTIVE) - Bill Text download pdf

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   7595
 
                             I N  S E N A T E
 
                             January 29, 2020
                                ___________
 
 Introduced  by  Sen.  PARKER -- read twice and ordered printed, and when
   printed to be committed to the Committee on Cities
 
 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. Paragraphs (d) and (e) of subdivision 1 of section 499-bbbb
 of the real property tax law, paragraph (d)  as  separately  amended  by
 chapters  327  and  412  of  the laws of 2018, paragraph (e) as added by
 chapter 412 of the laws of 2018, are amended and a new paragraph (f)  is
 added to read as follows:
   (d) if the solar electric generating system is placed in service on or
 after  January  first,  two thousand fourteen, and before January first,
 two thousand twenty-one, for each year of the compliance period such tax
 abatement shall be the lesser of (i)  five  percent  of  eligible  solar
 electric  generating system expenditures, (ii) the amount of taxes paya-
 ble in such tax year, or (iii) sixty-two thousand five hundred  dollars;
 [or]
   (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-one, 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[.];
 OR
   (F) IF ELECTRIC ENERGY STORAGE EQUIPMENT IS PLACED IN  SERVICE  ON  OR
 AFTER  JANUARY FIRST, TWO THOUSAND TWENTY-ONE, AND BEFORE JANUARY FIRST,
 TWO THOUSAND TWENTY-THREE, 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.
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD14528-01-9

 S. 7595                             2
 
   § 2. Subdivision 1 of section 499-cccc of the real property  tax  law,
 as  separately  amended  by chapters 327 and 412 of the laws of 2018, is
 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 March fifteenth,  two
 thousand [twenty-one] TWENTY-THREE.
   § 3. This act shall take effect immediately.

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Senate Bill S7595

Sponsored By

Archive: Last Bill Status - In Senate Committee Cities Committee

2019-S7595 (ACTIVE) - Details

2019-S7595 (ACTIVE) - Summary

2019-S7595 (ACTIVE) - Sponsor Memo

2019-S7595 (ACTIVE) - Bill Text download pdf

Comments

Senate Bill S7595

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Sponsored By

Kevin S. Parker

Archive: Last Bill Status - In Senate Committee Cities Committee

2019-S7595 (ACTIVE) - Details

2019-S7595 (ACTIVE) - Summary

2019-S7595 (ACTIVE) - Sponsor Memo

2019-S7595 (ACTIVE) - Bill Text download pdf

Comments