NY S00534

Land used solely for replanting or crop expansion of woody biomass for ethanol or biofuel production (including willow) receives a real property tax exemption for three successive years starting on the first eligible taxable date following the expansion or replanting.

Land must be located within an agricultural district or be eligible for agricultural assessment under Agriculture and Markets Law sections 305 or 306, with the owner having filed an annual application for agricultural assessment.

Tax exemption cannot exceed 20 percent of the total acreage of woody biomass agricultural land in any single year, and the land must be maintained as woody biomass agricultural production throughout the exemption period.

In areas declared disaster emergencies by the governor, the 20 percent acreage limitation may be exceeded for that year and remaining years, provided the exempted acreage does not exceed total damaged or destroyed acreage verified by the commissioner.

The act takes effect immediately and applies to assessment rolls prepared after January 1 following the effective date.