NY S02470

Creates a new tax abatement for electric energy storage equipment placed in service between January 1, 2027 and January 1, 2029

Abatement equals the lesser of: 10% of eligible electric energy storage equipment expenditures, the amount of taxes payable that year, or $62,500 per year

Amends the real property tax law section 499-bbbb governing solar and energy storage system tax abatements

Applies during a compliance period for each year the equipment is in service within the qualifying timeframe