HB 1087

Abstract

Local taxation for solar photovoltaic projects five megawatts or less. Provides that generating equipment of solar photovoltaic projects five megawatts or less shall be taxable by a locality, at a rate determined by such locality, but shall not exceed the real estate rate applicable in that locality, and that the exemption shall be as follows: 80 percent of the assessed value in the first five years in service after commencement of commercial operation, 70 percent of the assessed value in the second five years in service, and 60 percent of the assessed value for all remaining years in service. The bill also provides that (i) solar photovoltaic projects five megawatts or less shall not be exempt from the assessment of a revenue share by ordinance of that locality and (ii) nothing in the bill shall be construed to authorize local taxation of generating or storage equipment of solar photovoltaic projects that serve the electricity needs of that property upon which such solar facilities are located. The bill does not apply to projects five megawatts or less that were approved by a locality prior to July 1, 2022.

Local taxation for solar photovoltaic projects five megawatts or less. Provides that generating equipment of solar photovoltaic projects five megawatts or less shall be taxable by a locality, at a rate determined by such locality, but shall not exceed the real estate rate applicable in that locality, and that the exemption shall be as follows: 80 percent of the assessed value in the first five years in service after commencement of commercial operation, 70 percent of the assessed value in the second five years in service, and 60 percent of the assessed value for all remaining years in service. The bill also provides that (i) solar photovoltaic projects five megawatts or less shall not be exempt from the assessment of a revenue share by ordinance of that locality and (ii) nothing in the bill shall be construed to authorize local taxation of generating or storage equipment of solar photovoltaic projects that serve the electricity needs of that property upon which such solar facilities are located. If a locality assesses a revenue share on such projects, the amount of the exemption shall be 100 percent of the assessed value. The bill does not apply to projects five megawatts or less that were approved by a locality prior to July 1, 2022.

Local taxation for solar photovoltaic projectsless than five megawatts. Provides that generating equipment of solar photovoltaic projects less than five megawatts shall be taxableby a locality, at a rate determined by such locality, but shall notexceed the real estate rate applicable in that locality, and thatthe exemption shall be as follows: 80 percent of the assessed valuein the first five years in service after commencement of commercialoperation, 70 percent of the assessed value in the second five years in service, and 60 percent of the assessed value for all remainingyears in service. The bill also provides that (i) solar photovoltaicprojects less than five megawatts shall not be exempt from the assessmentof a revenue share by ordinance of that locality and (ii) nothingin the bill shall be construed to authorize local taxation of generatingor storage equipment of solar photovoltaic projects that serve theelectricity needs of that property upon which such solar facilitiesare located.