Assembly Bill A639

2023-2024 Legislative Session

Provides for a tax abatement for electric energy storage equipment

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Current Bill Status - In Assembly 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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Bill Amendments

2023-A639 - Details

Current Committee:
Assembly Real Property Taxation
Law Section:
Real Property Tax Law
Laws Affected:
Amd §499-bbbb, RPT L
Versions Introduced in 2021-2022 Legislative Session:
A7343

2023-A639 - Summary

Provides for a tax abatement for electric energy storage equipment placed in service after January 1, 2026 and before January 1, 2028.

2023-A639 - 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

2023-A639A (ACTIVE) - Details

Current Committee:
Assembly Real Property Taxation
Law Section:
Real Property Tax Law
Laws Affected:
Amd §499-bbbb, RPT L
Versions Introduced in 2021-2022 Legislative Session:
A7343

2023-A639A (ACTIVE) - Summary

Provides for a tax abatement for electric energy storage equipment placed in service after January 1, 2026 and before January 1, 2028.

2023-A639A (ACTIVE) - Bill Text download pdf 

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                  639--A
 
                        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 -- recommitted to the Committee on  Real
   Property  Taxation  in  accordance  with  Assembly  Rule  3, sec. 2 --
   committee discharged, bill amended, ordered reprinted as  amended  and
   recommitted to said committee

 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-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.
                                                            LBD00553-03-4

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