Memo of Support for Standardized Renewables Taxation

March 9, 2021

New York Solar Energy Industries Association (NYSEIA) strongly supports enactment of Part X of the Revenue Bill in the proposed Executive Budget for 2021-22, which amends the Real Property Tax Law (Sections 487 and 575-a) and General Municipal Law (Sections 852, 854, 858 and 859-a) to direct the New York State Tax and Finance Department to publish a standard methodology for real property tax assessment. It also makes it clear that renewable energy is among the types of economic development that Industrial Development Agencies (IDAs) have the authority to support.