relative to the application of utility property taxes and statewide education property taxes to electric generating facilities.

SB 277 modifies tax rules for renewable energy facilities in New Hampshire. It allows electric generating facilities exempt from utility property tax (under RSA 83-F:1, V(g)) to delay paying the state education property tax until July 1, 2032, or until their existing payment-in-lieu-of-taxes agreement with a municipality expires - whichever happens first. After this period, the facility must either include the education tax in a new payment-in-lieu agreement or pay it separately, calculated using the standard property valuation method. The bill applies to tax periods starting April 1, 2028, and directly affects renewable energy facilities with current municipal payment agreements.