Valuation Of Energy Storage Property

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Plain-English Summary

This bill amends the special method for valuing property used in the electric power industry for tax purposes. It expands the definition of "electric plant" to include property used for the storage of electric power or energy, alongside generation, transmission, and distribution. If passed, this change would apply to property tax years starting on or after January 1, 2027, affecting how certain energy storage technologies are valued for property taxes.

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