Establishes that combined heat and power generating equipment shall be exempt from taxation.

New York A01161 amends the real property tax law to exempt combined heat and power generating equipment from taxation. This equipment must be an integrated system serving a residential or commercial customer, operating on any fuel, and connected to the electric system. The exemption applies to equipment constructed between January 1, 2018, and January 1, 2030. Local governments can opt out of this exemption for certain systems constructed after January 1, 2018. The exemption takes effect on January 1, 2026.

Establishes that combined heat and power generating equipment shall be exempt from taxation.

New York A01161 amends the real property tax law to exempt combined heat and power generating equipment from taxation. This equipment must be an integrated system serving a residential or commercial customer, operating on any fuel, and connected to the electric system. The exemption applies to equipment constructed between January 1, 2018, and January 1, 2030. Local governments can opt out of this exemption for certain systems constructed after January 1, 2018. The exemption takes effect on January 1, 2026.