Arizona HB2918 amends the valuation of renewable energy and storage equipment for tax purposes.

Arizona HB2918 modifies the valuation of renewable energy and storage equipment for tax purposes. It specifies that the full cash value of such equipment is determined by the depreciated cost, defined as the original cost minus depreciation. Equipment owned by or subject to an exclusive power purchase agreement with a public service corporation or public power entity in Arizona is valued differently based on when it is placed in service. The bill also defines terms such as "depreciation," "original cost," and "taxable original cost" for clarity in valuation.

Arizona HB2918 amends the valuation of renewable energy and storage equipment for tax purposes.

Arizona HB2918 modifies the valuation of renewable energy and storage equipment for tax purposes. It specifies that the full cash value of such equipment is determined by the depreciated cost, defined as the original cost minus depreciation. Equipment owned by or subject to an exclusive power purchase agreement with a public service corporation or public power entity in Arizona is valued differently based on when it is placed in service. The bill also defines terms such as "depreciation," "original cost," and "taxable original cost" for clarity in valuation.