NY A03895

Creates a central assessment program for energy-related public utility mass real property (equipment used for storage, transmission, and distribution of electricity, gas, or steam including conduits, cables, poles, mains, pipes, substations, and tanks)

Requires the Commissioner of Taxation and Finance to annually establish assessment ceilings for utility property, using reproduction cost less depreciation methodology, with local assessors prohibited from assessing above these ceilings

Phases in assessment ceiling limits from 2030-2033: starting at 90-110% of 2027 assessments in 2030, gradually expanding to 25-175% by 2033 to allow transition to full market-based valuations

Mandates biennial evaluation starting January 1, 2033 of whether utility property still qualifies as a "specialty" and whether alternative valuation methodologies should be adopted

Funds the program through annual fees charged to utility property owners based on their proportional share of total property value, with charges subject to Budget Director approval and challengeable under Article 78 proceedings