NY S08971

Extends the existing solar electric generating system tax abatement program to include electric energy storage equipment, defined as technologies capable of storing and releasing electric energy, including batteries, flywheels, capacitors, compressed air storage, and thermal storage devices.

Establishes a 10 percent tax abatement on eligible electric energy storage equipment expenditures for equipment placed in service between January 1, 2019 and January 1, 2021, with a maximum abatement of $62,500 per year.

Extends the application deadline for tax abatements from March 15, 2019 to March 15, 2021 to accommodate the new electric energy storage equipment provisions.

Requires applicants to provide proof of required certifications and permits, engineer or architect certification that equipment meets construction and fire codes, and allow designated agency inspections of the equipment and related structures.

Applies to properties in cities with one million or more persons and maintains compliance requirements during the abatement period, with forfeiture of abatement if equipment fails to meet requirements or becomes a fire or safety hazard.