New York S 1902: Relates to exempting homeowners from tax increases for certain renewable energy systems

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S01902 Summary:

BILL NOS01902 

&nbsp

SAME ASNo Same As

&nbsp

SPONSORO'MARA

&nbsp

COSPNSR

&nbsp

MLTSPNSR

&nbsp

Amd §487, RPT L

&nbsp

Relates to exempting homeowners from tax increases for certain renewable energy systems.

Go to top S01902 Actions:

BILL NOS01902 

&nbsp

01/14/2025REFERRED TO LOCAL GOVERNMENT

01/07/2026REFERRED TO LOCAL GOVERNMENT

Go to topS01902 Committee&nbspVotes:

Go to topS01902 Floor&nbspVotes:

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

Go to topS01902 Text:

 STATE OF NEW YORK
 ________________________________________________________________________

 1902

 2025-2026 Regular Sessions

 IN SENATE

 January 14, 2025
 ___________

 Introduced by Sen. O'MARA -- read twice and ordered printed, and when
 printed to be committed to the Committee on Local Government

 AN ACT to amend the real property tax law, in relation to exempting
 homeowners from tax increases for certain renewable energy systems

 The People of the State of New York, represented in Senate and Assem-
 bly, do enact as follows:

 1 Section 1. Subdivision 5 of section 487 of the real property tax law,
 2 as amended by section 1 of part X of chapter 59 of the laws of 2021, is
 3 amended to read as follows:
 4 5. The exemption granted pursuant to this section shall only be appli-
 5 cable to (a) solar or wind energy systems or farm waste energy systems
 6 which are (i) existing or constructed prior to July first, nineteen
 7 hundred eighty-eight or (ii) constructed subsequent to January first,
 8 nineteen hundred ninety-one and prior to January first, two thousand
 9 thirty, and (b) micro-hydroelectric energy systems, fuel cell electric
 10 generating systems, micro-combined heat and power generating equipment
 11 systems, electric energy storage equipment or electric energy storage
 12 system, or fuel-flexible linear generator electric generating system
 13 which are constructed subsequent to January first, two thousand eighteen
 14 and prior to January first, two thousand thirty, and (c) all systems
 15 described in paragraphs (a) and (b) of this subdivision whose standalone
 16 or combined generation capacity does not exceed twenty kilowatts and
 17 whose standalone or combined electric energy storage capacity does not
 18 exceed thirty kilowatt-hours.
 19 § 2. Subdivision 8 of section 487 of the real property tax law is
 20 amended by adding a new paragraph (c) to read as follows:
 21 (c) This subdivision shall not apply to exemptions granted pursuant to
 22 paragraph (c) of subdivision five of this section.
 23 § 3. Subdivision 9 of section 487 of the real property tax law is
 24 amended by adding a new paragraph (d) to read as follows:
 25 (d) This subdivision shall not apply to exemptions granted pursuant to
 26 paragraph (c) of subdivision five of this section.
 27 § 4. This act shall take effect immediately.

 EXPLANATION--Matter in italics (underscored) is new; matter in brackets
 [ ] is old law to be omitted.
 LBD04611-01-5

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