S07896 REFERRED 04/28/2008 TO ENERGY AND TELECOMMUNICATIONS COMMITTEE

The Bill would permit any municipal corporation (e.g., town or village) in New York to establish a solar or wind or farm waste energy system tax stabilization fund.

According to the Bill, the legislature finds that private development and ownership of solar or wind or farm waste energy systems will generate significant, new tax revenue for the municipalities where a solar or wind or farm waste energy system is located. Therefore, in order to provide tax stability to the involved municipalities, the purpose of this legislation is to empower such municipalities to create solar or wind or farm waste energy system tax stabilization reserve funds.

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