Bill would value qualifying energy storage under electric plant tax rules

The proposed text applies the special electric plant valuation method to property used to store electricity. It covers property used to store electric power or energy when that property is subject to property tax. The text defines storage technology as equipment that converts, stores, and returns electricity to balance supply and demand, help dispatch electricity, or increase returns from electricity sales. The method starts with the property's cost, subtracts depreciation and other justified adjustments, and sets a floor of 20% of its cost. The proposed provisions would apply to property tax years beginning on or after January 1, 2027.