AN ACT CONCERNING THE PROPERTY TAX EXEMPTION FOR AND TAX AGREEMENTS RELATED TO CERTAIN CLASS I RENEWABLE ENERGY SOURCES.
SIGNED BY GOVERNOR
Summary
The bill exempts certain Class I renewable energy sources, hydropower, solar heating, and geothermal systems from property taxes when they meet defined size, location, and usage criteria. It applies to residential, farm, commercial, and industrial installations, with additional provisions for distressed municipalities and newer photovoltaic equipment. Owners must file an initial exemption application with the local assessor by November 1 of the assessment year.
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