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

  
  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