A 5959 New York Assembly · 2025 Regular Session

Provides for direct-pay tax abatement credits for solar electric generating systems and electric energy storage systems in connection with eligible buildings

Summary

Provides for direct-pay tax abatement credits for solar electric generating systems and electric energy storage systems in connection with eligible buildings; provides such eligible properties shall include: 501(c)(3) corporations, associations, organizations or trusts and income-restricted affordable housing properties.

Bill status in committee 1 of 4 stages cleared

Introduction

Feb 2025

Committee Review

Floor Vote

Governor

Introduced Feb 25, 2025 Last action May 7, 2026

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What changed between versions

A5959 → A5959A · 2 edits

MINOR

The bill was renumbered to A5959-A after being re-referred to the committee, and a critical restriction was added to the direct-pay credit provision. The amendment clarifies that the monetary value of the tax abatement credit cannot include the amount of taxes payable in the current year, ensuring the credit is calculated strictly on the abatement value rather than the total tax bill.

FISCAL

Added a restriction stating the direct-pay credit amount must exclude the actual taxes payable for that tax year, preventing the credit from being inflated by the total tax bill amount.

TECHNICAL

Updated the bill number from 5959 to 5959-A and modified the introduction history to reflect that the bill was re-referred to the committee after being discharged and amended.

Floor votes

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Full legislative history

Actions timeline

Total actions

Key actions

Committee

Amendments

May 7, 2026

Lower · Passed

PRINT NUMBER 5959A

lower

May 7, 2026

Lower · Passed

AMEND AND RECOMMIT TO REAL PROPERTY TAXATION

lower

Jan 7, 2026

Committee

REFERRED TO REAL PROPERTY TAXATION

lower

Feb 25, 2025

Committee

REFERRED TO REAL PROPERTY TAXATION

lower

1 primary · 1 co-sponsor