SCS/SB 607 - Beginning January 1, 2024, for purposes of assessing all real and tangible personal property associated with a project that uses solar energy directly to generate electricity, and that was built prior to December 31, 2023, shall be considered to be de minimis in value. The assessor shall request any documentation necessary to determine the true value in money of such property. The tax liability actually owed for solar energy property that was built prior to December 31, 2023, shall not exceed $500 per megawatt. For projects for which the land associated with such project is reclassified due to the project, the property tax liability incurred from such land shall be included in such limit. (Section 137.077)
This provision shall expire on December 31, 2050.
This act is substantially similar to HB 1246 (2023) and to a provision in HCS/SB 275 (2023), as amended.
JOSH NORBERG