New York A 6198: Provides for a tax abatement for electric energy storage equipment

Bill Text

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A06198 Summary:

BILL NOA06198 

&nbsp

SAME ASSAME AS S02470

&nbsp

SPONSORCarroll R

&nbsp

COSPNSR

&nbsp

MLTSPNSR

&nbsp

Amd §499-bbbb, RPT L

&nbsp

Provides for a tax abatement for electric energy storage equipment placed in service after January 1, 2027 and before January 1, 2029.

Go to top A06198 Actions:

BILL NOA06198 

&nbsp

02/27/2025referred to real property taxation

01/07/2026referred to real property taxation

Go to topA06198 Committee&nbspVotes:

Go to topA06198 Floor&nbspVotes:

There are no Assembly votes for this bill in this legislative session.

Go to topA06198 Text:

 STATE OF NEW YORK
 ________________________________________________________________________

 6198

 2025-2026 Regular Sessions

 IN ASSEMBLY

 February 27, 2025
 ___________

 Introduced by M. of A. R. CARROLL -- read once and referred to the
 Committee 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:

 1 Section 1. Paragraph (f) of subdivision 1 of section 499-bbbb of the
 2 real property tax law, as added by chapter 485 of the laws of 2023, is
 3 amended and a new paragraph (g) is added to read as follows:
 4 (f) if the solar electric generating system and/or electric energy
 5 storage system is placed in service on or after January first, two thou-
 6 sand twenty-four, and before January first, two thousand thirty-five,
 7 for each year of the compliance period such tax abatement shall be the
 8 lesser of (i) seven and one-half percent of eligible solar electric
 9 generating system and/or energy storage system expenditures, (ii) the
 10 amount of taxes payable in such tax year, or (iii) sixty-two thousand
 11 five hundred dollars[.]; or
 12 (g) if electric energy storage equipment is placed in service on or
 13 after January first, two thousand twenty-seven, and before January
 14 first, two thousand twenty-nine, for each year of the compliance period
 15 such tax abatement shall be the lesser of (i) ten percent of eligible
 16 electric energy storage equipment expenditures, (ii) the amount of taxes
 17 payable in such tax year, or (iii) sixty-two thousand five hundred
 18 dollars.
 19 § 2. This act shall take effect immediately.

 EXPLANATION--Matter in italics (underscored) is new; matter in brackets
 [ ] is old law to be omitted.
 LBD06565-01-5

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