HB1791 establishes rules for assessing commercial energy storage systems in Illinois.
HB1791 introduces provisions for the assessment of commercial energy storage systems in Illinois. It defines "commercial energy storage system" as devices used for energy storage for sale, not for later consumption. The bill sets rules for determining the fair cash value of these systems, including the allowance for physical depreciation and the trended real property cost basis. It exempts these systems from equalization factors and requires owners to commission surveys. The bill also mandates separate parcel identification for property assessments and allows for tax abatements.
Included in complete analysis
- Overview
- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
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