HB3823: Relating to property taxes; prescribing an effective date.

Legislative Summary

The Act would give a property tax break to a business that generated or stored energy for its own use. The Act would exclude utilities from the tax break. The Act would give a property tax break for property installed at a residence to generate or store energy for use there. (Flesch Readability Score: 65.1). Exempts from property taxes personal property used by a business to generate or store energy for consumption by the business on its premises. Provides that the exemption does not apply to the personal property of utility businesses. Exempts from property taxes property installed at a residence to generate or store energy for consumption at the residence. Takes effect on the 91st day following adjournment sine die.