AZ HB2293

Expands renewable energy incentive district definitions in cities, towns, and counties to include "renewable energy and storage equipment" alongside existing renewable energy equipment provisions.

Adds machinery and equipment used directly for energy storage for later electrical use as a deduction from the retail tax base under section 42-5061, subsection B, paragraph 5, with definitions for "electric utility scale," "energy storage," and "machinery and equipment used directly."

Extends similar energy storage equipment deductions to use tax exemptions under section 42-5159, subsection B, paragraph 5, and municipal tax exemptions under section 42-6004, subsection A, paragraph 22.

Modifies valuation provisions in section 42-14155 to explicitly include all energy storage equipment—both colocated with renewable energy and stand-alone energy storage equipment—as qualifying for the 20 percent full cash value assessment method through December 31, 2040.

Updates section 42-14151 to include "energy storage" in the annual valuation determination for electric transmission and distribution systems operated by utilities.