Bill > S07389

This bill requires that any agreement for installing and using a solar or wind energy system must include a provision guaranteeing that 12.5% of the profits generated by the system will be paid to either the taxing jurisdiction (like a local government) or the landowner, in addition to any other existing payments already stipulated in the original agreement. The bill amends two sections of New York state law: the real property tax law and the public service law, to mandate this profit-sharing requirement. For the purposes of this bill, the definition of a "solar or wind energy system" will be the same as defined in section 487 of the real property tax law. The legislation will take effect immediately and apply to all contracts and agreements entered into on or after its effective date, potentially providing a new revenue stream for local governments and landowners hosting renewable energy installations.

Government Affairs

https://www.nysenate.gov/legislation/bills/2025/S7389