New York S02470 provides a tax abatement for electric energy storage equipment placed in service between 2027 and 2029.

New York S02470 amends the real property tax law to provide a tax abatement for electric energy storage equipment placed in service between January 1, 2027, and January 1, 2029. The abatement is the lesser of ten percent of eligible expenditures, the amount of taxes payable in the tax year, or $62,500. This applies for each year of the compliance period. The act takes effect immediately.

New York S02470 provides a tax abatement for electric energy storage equipment placed in service between 2027 and 2029.

New York S02470 amends the real property tax law to provide a tax abatement for electric energy storage equipment placed in service between January 1, 2027, and January 1, 2029. The abatement is the lesser of ten percent of eligible expenditures, the amount of taxes payable in the tax year, or $62,500. This applies for each year of the compliance period. The act takes effect immediately.