Establishes an energy-related public utility mass real property central assessment program.

The bill establishes a central assessment program for energy-related public utility mass real property. It defines "local energy-related public utility mass real property" as real property owned by an electric, gas, or steam corporation and used in the storage, transmission, and distribution of electricity, gas, or steam. The commissioner of taxation and finance will annually determine assessment ceilings for this property, which will be subject to judicial challenge. Owners must submit annual reports to the commissioner, and failure to do so results in a fine.

Establishes an energy-related public utility mass real property central assessment program.

The bill establishes a central assessment program for energy-related public utility mass real property. It defines "local energy-related public utility mass real property" as real property owned by an electric, gas, or steam corporation and used in the storage, transmission, and distribution of electricity, gas, or steam. The commissioner of taxation and finance will annually determine assessment ceilings for this property, which will be subject to judicial challenge. Owners must submit annual reports to the commissioner, and failure to do so results in a fine.