Revises provisions relating to property tax abatements for certain buildings and structures which meet certain energy efficiency standards. (BDR 58-425)

AB 528 revises property tax reductions for buildings meeting new energy efficiency standards by removing a ban on approving applications after July 1, 2021. It establishes tiered tax reductions: 20-35% annually for up to 10 years for new buildings, 20-35% for up to 5 years for existing buildings without prior reductions, and 5% for up to 3 years for recertified buildings. Buildings must now meet specific energy performance standards, including resilience credits and net zero carbon goals for certain categories. Recipients must annually report energy and water usage to the Office of Economic Development.