NY S07598

Extends the expiration date for solar electric generating systems placed in service from January 1, 2014 through January 1, 2023 (previously January 1, 2021) to qualify for the real property tax abatement

Tax abatement amount remains the lesser of: 5 percent of eligible solar electric generating system expenditures, the amount of taxes payable in that tax year, or $62,500

Extends the application deadline for the tax abatement from March 15, 2021 to March 15, 2023

Takes effect immediately upon enactment