Energy storage systems; definitions, tax exemption, revenue share for systems. (SB1201)
Introduced By
Sen. Chap Petersen (D-Fairfax)
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 included in the definition of certified pollution control equipment and facilities, making energy storage systems 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 allows localities to assess a revenue share of up to $1,400 per megawatt on energy storage systems. The bill provides that on July 1, 2026, and every five years thereafter, the maximum amount of the revenue share that a locality may impose on energy storage systems as well as certain solar energy projects shall be increased by 10 percent. No increase may be made to any revenue share imposed by a locality on a solar energy project or energy storage systems for which an application has been filed with the locality and such application has been approved prior to January 1, 2021. The bill defines energy storage systems as electric suppliers whose property shall be assessed by the State Corporation Commission. This bill is identical to HB 2006. Read the Bill »
Status
07/25/2021: Awaiting a Vote in the Finance Committee
History
| Date | Action |
|---|---|
| 01/11/2021 | Prefiled and ordered printed; offered 01/13/21 21100749D |
| 01/11/2021 | Referred to Committee on Finance and Appropriations |
| 01/18/2021 | Impact statement from SCC (SB1201) |
| 02/02/2021 | Senate committee, floor amendments and substitutes offered |
| 02/02/2021 | Reported from Finance and Appropriations with substitute (15-Y 0-N 1-A) (see vote tally) |
| 02/02/2021 | Committee substitute printed 21103742D-S1 |
| 02/03/2021 | Constitutional reading dispensed (37-Y 0-N) (see vote tally) |
| 02/04/2021 | Read second time |
| 02/04/2021 | Reading of substitute waived |
| 02/04/2021 | Committee substitute agreed to 21103742D-S1 |
| 02/04/2021 | Engrossed by Senate - committee substitute SB1201S1 |
| 02/05/2021 | Read third time and passed Senate (38-Y 0-N 1-A) (see vote tally) |
| 02/07/2021 | Placed on Calendar |
| 02/07/2021 | Read first time |
| 02/07/2021 | Referred to Committee on Finance |
| 02/08/2021 | Continued to Special Session 1 in Finance |
| 02/10/2021 | Impact statement from SCC (SB1201S1) |
| 02/10/2021 | Reported from Finance (22-Y 0-N) (see vote tally) |
| 02/12/2021 | Read second time |
| 02/15/2021 | Read third time |
| 02/15/2021 | Passed House (91-Y 6-N 1-A) |
| 02/15/2021 | VOTE: Passage (91-Y 6-N 1-A) (see vote tally) |
| 02/17/2021 | Enrolled |
| 02/17/2021 | Bill text as passed Senate and House (SB1201ER) |
| 02/17/2021 | Signed by President |
| 02/18/2021 | Signed by Speaker |
| 02/22/2021 | Enrolled Bill Communicated to Governor on February 22, 2021 |
| 02/22/2021 | G Governor's Action Deadline 11:59 p.m., March 31, 2021 |
| 02/23/2021 | Impact statement from SCC (SB1201ER) |
| 03/11/2021 | G Approved by Governor-Chapter 50 (effective 7/1/21) |
| 03/11/2021 | G Acts of Assembly Chapter text (CHAP0050) |
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