IL SB2365

Amends the Property Tax Code Section 10-5 to expand the definition of "solar energy system" to include photovoltaic electricity generation systems subject to power purchase agreements or leases between third-party owners/operators and end users of electricity.

Defines qualifying third-party owned solar systems as those located on the end user's side of the electric meter and designed to offset the end user's electricity load, with systems estimated to produce 110% or fewer kilowatt-hours than consumed by the end user in the prior 12 months.

Maintains existing exclusions from the solar energy system definition, including distribution equipment equally usable in conventional energy systems, components serving non-solar purposes, and commercial solar energy systems in counties with fewer than 3,000,000 inhabitants.

Reaffirms state policy that solar energy systems should be encouraged because they conserve nonrenewable resources, reduce pollution, and promote public health and well-being.

Takes effect upon becoming law.