The proposed bill, General Assembly Proposed Bill No. 699, aims to amend current property tax laws concerning solar projects. Specifically, it stipulates that if a property owner divides a parcel of land that is five acres or more into multiple lots of less than five acres for the purpose of leasing for solar projects, the entire property will be treated as a single entity for property tax purposes. This means that the property owner will not face separate tax assessments for each subdivided lot, which could potentially reduce the overall tax burden associated with solar project development.

Additionally, the bill mandates that each subdivided lot must have separate points of ingress and egress, ensuring that access to each lot is clearly defined and maintained. This requirement aims to facilitate the development and operation of solar projects while maintaining regulatory standards for land use and access. The bill does not include any deletions from current law but introduces new provisions to clarify the treatment of subdivided properties in relation to property taxes and access requirements.