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NY S07389
Bill
Status
4/14/2025
Primary Sponsor
Mark Walczyk
Click for details
AI Summary
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Requires payment in lieu of tax (PILOT) agreements for solar or wind energy systems to include a provision entitling the taxing jurisdiction to 12.5% of profits generated by the system, in addition to standard PILOT payments
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Mandates that land lease agreements for solar or wind energy installations include a provision entitling landowners to 12.5% of profits from the energy system, on top of any lease payments
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Applies to both solar and wind energy systems as defined under section 487 of the real property tax law
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Takes effect immediately and applies only to contracts and agreements entered into on or after the effective date
Legislative Description
Requires 12.5% of profits generated from a solar or wind energy system to be paid to a taxing jurisdiction or land owner under certain agreements for the installation and use of such solar or wind energy system, in addition to other PILOT or other payments required under such agreement.
Last Action
REFERRED TO LOCAL GOVERNMENT
1/7/2026