New York S07389 mandates that 12.5% of profits from solar or wind energy systems be paid to taxing jurisdictions or landowners under certain.

New York S07389 amends the real property tax law to require that any payment in lieu of tax agreement for solar or wind energy systems must include a provision for the owner of the land to receive 12.5% of the profits generated from such systems. This payment is in addition to any other payments required under the agreement. The bill also amends the public service law to mandate that any land-lease agreement for the installation and use of solar or wind energy systems must include a similar provision. The act applies to contracts and agreements entered into on or after the effective date.

New York S07389 mandates that 12.5% of profits from solar or wind energy systems be paid to taxing jurisdictions or landowners under certain.

New York S07389 amends the real property tax law to require that any payment in lieu of tax agreement for solar or wind energy systems must include a provision for the owner of the land to receive 12.5% of the profits generated from such systems. This payment is in addition to any other payments required under the agreement. The bill also amends the public service law to mandate that any land-lease agreement for the installation and use of solar or wind energy systems must include a similar provision. The act applies to contracts and agreements entered into on or after the effective date.