Excludes solar or wind energy projects in the county of Lewis that were already in existence on the effective date of Part N of chapter 59 of the laws of 2023 from certain appraisal models and discount rates.
Impact
By providing an exemption from the standard appraisal model for solar and wind energy projects, the bill seeks to incentivize the development and retention of renewable energy sources in Lewis County. Supporters argue that this measure will foster an environment more favorable for existing energy projects; conversely, critics may contend that such exemptions could undermine broader state efforts to standardize energy regulations and equalize tax burdens across the state.
Summary
Bill S07390 amends the state laws regarding the tax assessment of solar and wind energy systems, specifically targeting projects that exist in Lewis County prior to the effective date of Part N of chapter 59 of the laws of 2023. The bill clarifies that the designated appraisal model and discount rates established for solar and wind projects will not apply to energy systems in place in Lewis County, offering them a unique exemption that could affect their tax liabilities significantly.
Contention
One notable point of contention surrounding S07390 lies in the implications of selectively exempting certain areas from established state appraisal models. Proponents of the bill view it as a necessary local support mechanism for renewable energy in Lewis County, while opponents might argue that this creates inequalities in how different counties are taxed, potentially leading to disputes and calls for similar exemptions elsewhere. Additionally, there may be concerns regarding the influence of such exemptions on future energy project funding and sustainability efforts.
Same As
Excludes solar or wind energy projects in the county of Lewis that were already in existence on the effective date of Part N of chapter 59 of the laws of 2023 from certain appraisal models and discount rates.
Excludes solar or wind energy projects in the county of Lewis that were already in existence on the effective date of Part N of chapter 59 of the laws of 2023 from certain appraisal models and discount rates.
Requires 12.5% of profits generated from a solar or wind energy system to be paid to a taxing jurisdiction or land owner under certain agreements for the installation and use of such solar or wind energy system, in addition to other PILOT or other payments required under such agreement.
Directs the department of public service to promulgate rules, regulations and model policies regarding setback requirements for the siting of battery energy storage systems; requires minimum setback requirements for commercial energy storage systems, with a capacity of three megawatts or greater, of no less than seven hundred fifty feet from residential property and no less than three hundred feet from residential property located in a city with a population of one million or more inhabitants; requires public hearings prior to the approval of an application for a permit for such systems.
Requires property/casualty insurance companies to submit certain zip code-level data to the department of financial services on nonrenewal rates, nonpayment cancellation rates, other cancellation rates, claim frequency rates, average claim amounts, paid loss ratios, and average premiums; requires property/casualty insurance companies that use a natural disaster risk model or scoring method to assign risk, information about such model or scoring method; authorizes a premium discount to policyholders of homeowners insurance or property/casualty insurance applicable to residential real property who demonstrate certain mitigation actions; requires insurers to post about such discounts on their public websites; relates to the timing of cancellation and nonrenewal notices for certain insurance policies; relates to increasing membership of the board governing the New York property insurance underwriting association; requires a quadrennial report on the activities of such association; increases such board membership to 23 including 6 directors appointed by the legislature and 4 directors appointed by the governor.