SB 1060 - For solar energy projects commencing construction on or after January 1, 2020, beginning January 1, 2021, this act provides a depreciation table for the purposes of assessing all real and tangible personal property associated with a project that uses solar energy directly to generate electricity. Such depreciation percentages range from 40% in the first year following the year the solar energy system is capable of producing electricity to 35% in the fifth year following the year the solar energy system is capable of producing electricity and each year thereafter. (Section 137.123) For solar energy projects under construction prior to January 1, 2020, beginning January 1, 2021, this act provides a depreciation table for the purposes of assessing all real and tangible personal property associated with a project that uses solar energy directly to generate electricity. Such depreciation percentages range from 20% in the first year following the year the solar energy system is capable of producing electricity to 10% in the fifth year following the year the solar energy system is capable of producing electricity and each year thereafter. (Section 137.124)
This act is similar to HB 1914 (2020).
JOSH NORBERG