The proposed bill, General Assembly Proposed Bill No. 897, aims to amend current statutes regarding the property tax exemption for solar photovoltaic systems. Specifically, it seeks to remove the exemption from personal property tax for any solar photovoltaic system project with a capacity between one-half megawatt and seven megawatts and to qualify all solar photovoltaic projects on one parcel of land as one solar project for purposes of tax calculation.
The intent of this legislation is to ensure that solar projects within the specified capacity range are subject to personal property tax, thereby increasing tax revenue from these installations. Additionally, by treating multiple solar projects on a single parcel as one project for tax purposes, the bill aims to simplify the tax calculation process and potentially streamline the regulatory framework surrounding solar energy development.