AZ HB2502

Amends sections 42-14154 and 42-14155 of the Arizona Revised Statutes to add solar energy real property to the valuation provisions for renewable energy equipment.

Defines "solar energy real property" as parcels of at least 20 acres used for electric generation via solar technology and producing at least 100 megawatt hours of electricity per acre per year.

Values solar energy real property at the lesser of either the cost to the current owner as of December 31 of the preceding year or the value computed using the income approach to valuation without urban or market influences.

Extends the valuation period for renewable energy equipment and solar energy real property through December 31, 2040.

Excludes solar energy real property valued under this section from valuation under sections 42-14154 and 42-14156.