Bill Summary: HB 5137

• Expands property tax exemptions for Class I renewable energy sources and hydropower facilities installed for private residential use or on farms, effective October 1, 2020 for assessment years beginning on or after that date.

• Permits net metering participation and third-party ownership of renewable energy sources without disqualifying the property from exemption, provided annual production does not exceed annual load at installation.

• Changes nonresidential exemption requirements from "nameplate capacity" to "estimated annual production" measurement and allows participation in virtual net metering programs for Class I renewable sources.

• Allows municipalities to abate up to 100% of property taxes for Class I renewable energy sources subject to power purchase agreements approved by the Public Utilities Regulatory Authority, for up to the term of the agreement.

• Requires exemption claimants to file written applications with local assessors by November 1st, with applications made on forms prepared by the Secretary of the Office of Policy and Management and made available publicly online.