BILL NUMBER: S8196

SPONSOR: HARCKHAM
 
TITLE OF BILL:

An act to amend the local finance law, in relation to providing a period
of probable usefulness for solar arrays and panels

 
PURPOSE:

Provides a period of probable usefulness for solar arrays and panels

 
SUMMARY OF PROVISIONS:

Section 1 amends paragraph (a) of section 11.00 of the local fmance law
by adding a new subdivision 111, which specifies that the period of
probable usefulness for acquisition, construction, reconstruction, or
addition of solar arrays or solar panel systems shall be thirty years.

Section 2 states the effective date.

 
              

JUSTIFICATION:

Periods of probable usefulness prevent a municipality, school district,
or district corporation from receiving a bond, loan, or other contract
for indebtedness for any object or purpose longer than the period set
forth in the statute. Solar Panels have a lifespan of twenty-five to
thirty years,' but the current statutory period of probable usefulness
sets a cap on such power systems at a mere five years.

Under the Climate Leadership and Community Protection Act (CLCPA), New
York aims to reduce greenhouse gas emissions by 40% by 2030, and 85% by
2050? Achieving these ambitious climate goals will be more difficult if
the ability of municipalities, school districts, and district corpo-
rations to acquire solar panels is hindered by law.  This bill creates a
new subdivision specifically for solar arrays and panels within the
period of probable usefulness statute, and establishes the maximum peri-
od at thirty years.

 
LEGISLATIVE HISTORY:

This is a new bill.

 
FISCAL IMPLICATIONS:

TBD.

 
EFFECTIVE DATE:
This act shall take effect immediately.
1 Forbes, How Long Do Solar Panels Last?  https://www.forbes.com/hozne-
improvemerd/solar/howlong-do-solar-
panels-last/t-Ltext=The/020industry%20start
dard%20for%20most,fot4/02025%2Ovears%20o14/020more.
2 CLCPA Fact Sheet: haps ://eany.org/wp-cpntent/uploads/2019
/10/c1cpa_fact_sheet_0.pdf