Direct-pay tax abatement credits for solar electric and energy storage systems in eligible buildings.
This bill provides direct-pay tax abatement credits for solar electric generating systems and electric energy storage systems in connection with eligible buildings. Eligible properties include 501(c)(3) corporations, associations, organizations, trusts, and income-restricted affordable housing properties. The credits are equal to the monetary value of the abatement, calculated as specified. The bill amends the real property tax law to include these provisions.
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