NY S08049

Extends the deadline for placing solar electric generating systems in service from January 1, 2019 to January 1, 2021 to qualify for the tax abatement under Real Property Tax Law Section 499-bbbb.

Extends the application filing deadline for the solar electric generating system tax abatement from March 15, 2019 to March 15, 2021 under Real Property Tax Law Section 499-cccc.

Maintains the tax abatement benefit at the lesser of 5% of eligible solar electric generating system expenditures, taxes payable in that year, or $62,500 annually.

Takes effect immediately upon enactment.