Bill > SB414

This bill modifies how solar energy property is assessed for tax purposes in Missouri. Specifically, the legislation adds solar panels, racking systems, inverters, and related solar equipment installed at commercial solar photovoltaic energy systems to the definition of tangible personal property, but only for systems that were constructed and producing solar energy prior to August 9, 2022. The bill creates a new subclass of tangible personal property for these solar energy systems and establishes that they will be assessed at a low rate of 3% of their true value, compared to the standard assessment rates for other types of personal property. This means that owners of qualifying commercial solar energy systems constructed before the specified date will receive a significant tax assessment reduction, potentially making solar energy investments more financially attractive. The changes are technical in nature and primarily affect how these specific solar energy assets are classified and valued for property tax purposes in Missouri.

Business and Industry

https://www.senate.mo.gov/25info/BTS_Web/Bill.aspx?SessionType=R&BillID=171