What's happening
This bill extends eligibility for property tax abatements on electric energy storage equipment installed through January 1, 2023.
Why it matters
Encourages continued investment in energy storage. By extending the eligibility window for property tax abatements, the bill supports ongoing private and commercial adoption of electric energy storage systems, which are key to modernizing the energy grid and facilitating renewable energy integration.
Supports grid reliability and resilience. Increased deployment of energy storage helps smooth out fluctuations in electricity supply and demand, which can make the grid more stable and reduce the risk of outages—an important public benefit, especially as renewable energy sources like solar and wind expand.
Promotes environmental and economic goals. The extended incentives can help reduce greenhouse gas emissions by enabling more efficient use of renewable energy, while also spurring job creation and economic activity in New York’s clean energy sector.
Provides financial relief to early adopters. By allowing those who install energy storage equipment through January 1, 2023, to qualify for abatements, the bill ensures property owners who invest in these technologies can offset some of the upfront costs, making clean energy solutions more accessible.
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Cut Taxes for Battery Storage
Plain English, a few words. Used as the page title.
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History
- Referred to cities
Companion bill
The same bill in the other chamber. A bill becomes law when one version passes both houses and the governor signs it, so either number can carry it.
Cut Taxes for Energy Storage
In Assembly Committee · Real Property Taxation · Sponsor Robert C. Carroll
Full text
2 pagesUnderlined is new[Struck] is removedOfficial text on nysenate.gov ↗
STATE OF NEW YORK
7595
IN SENATE
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 Assembly, 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 payable 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 electric 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.
Reflowed for reading: line numbers and page breaks removed. Cite the official text.
Sponsor's memo
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.
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.