Energy storage systems; tax exemptions. (HB2006)

Introduced By

Del. Steve Heretick (D-Portsmouth)

Progress

Introduced
Passed Committee
Passed House
Passed Senate
Signed by Governor
Became Law

Description

Tax exemptions for energy storage systems. Declares that energy storage systems are a separate class of property and are exempt from state and local taxation. The bill defines "energy storage system" as equipment, facilities, or devices that are capable of absorbing energy, storing it for a period of time, and redelivering that energy after it has been stored. The tax exemption applies only to certain projects with alternating current (AC) storage capacity of more than five megawatts and less than 150 megawatts. The bill also provides that a locality may assess a revenue share of up to $1,400 per megawatt of alternating current (AC) storage capacity on energy storage systems. The bill also creates a sales tax exemption for energy storage systems and components purchased for use in such systems. Read the Bill »

Status

01/16/2021: Awaiting a Vote in the Finance Committee

History

DateAction
01/11/2021Prefiled and ordered printed; offered 01/13/21 21101104D
01/11/2021Referred to Committee on Finance
01/16/2021Assigned Finance sub: Subcommittee #1

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