Solar photovoltaic projects; local taxation for projects less than five megawatts. (HB1087)

Introduced By

Del. Jay Leftwich (R-Chesapeake)

Progress

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

Description

Local taxation for solar photovoltaic projects less than five megawatts. Provides that generating equipment of solar photovoltaic projects less than five megawatts shall be taxable by a locality, at a rate determined by such locality, but shall not exceed the real estate rate applicable in that locality, and that the exemption shall be as follows: 80 percent of the assessed value in the first five years in service after commencement of commercial operation, 70 percent of the assessed value in the second five years in service, and 60 percent of the assessed value for all remaining years in service. The bill also provides that (i) solar photovoltaic projects less than five megawatts shall not be exempt from the assessment of a revenue share by ordinance of that locality and (ii) nothing in the bill shall be construed to authorize local taxation of generating or storage equipment of solar photovoltaic projects that serve the electricity needs of that property upon which such solar facilities are located. Read the Bill »

Status

01/12/2022: In Committee

History

DateAction
01/12/2022Prefiled and ordered printed; offered 01/12/22 22103947D
01/12/2022Committee

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