1921-S AMH RAME H2709.1
SHB 1921 - H AMD 1118
By Representative Ramel
ADOPTED 02/15/2022
Strike everything after the enacting clause and insert the following:
"NEW SECTION.  Sec. 1. A new section is added to chapter 84.40 RCW to read as follows:
(1) It is the policy of this state to promote the development of renewable energy projects to support the state's renewable energy goals.
(2) The department must publish guidance, in cooperation with industry stakeholders, to advise county assessors when appraising renewable energy facilities for determining true and fair value, in accordance with RCW 84.40.030. This guidance must include a cost-based appraisal method, and the development of industry-specific valuation tables for the following types of renewable energy property:
(a) A cost-based appraisal method and industry-specific valuation tables for equipment used to generate solar power must be published by January 1, 2023, for property taxes levied for collection in calendar year 2024;
(b) A cost-based appraisal method and industry-specific valuation tables for equipment used to generate wind power must be published by January 1, 2023, for property taxes levied for collection in calendar year 2024; and
(c) A cost-based appraisal method and industry-specific valuation tables for equipment used to store electricity must be published by January 1, 2024, for property taxes levied for collection in calendar year 2025.
(3) County assessors must refer to this guidance, including cost-based appraisal method and industry-specific valuation tables, when valuing renewable energy property but may also consider one or more additional valuation methods in determining the true and fair value of a property when there is a compelling reason to do so.
(4) For the purposes of this section, "renewable energy property" means property that uses solar or wind energy as the sole fuel source for the generation of at least one megawatt of nameplate capacity, alternating current, and all other equipment and materials that comprise the property, including equipment used to store electricity from the property to be released at a later time. "Renewable energy property" does not include any equipment or materials attached to a single-family residential building."
Correct the title.
EFFECT: (1) Removes the authorization, and all related provisions regarding the authorization, for a county to enter into an agreement with a renewable energy property owner for payment instead of taxes.
(2) Removes the renewable energy property tax exemption.
(3) Modifies the requirement for the department of revenue (DOR) to publish guidance regarding a cost-based appraisal method and industry-specific tables for renewable energy property by:
(a) Requiring the cost-based appraisal method and valuation tables to be published by January 1, 2023, for solar and wind power equipment; and by January 1, 2024, for electricity storage equipment;
(b) Requiring county assessors to refer to the DOR guidance when valuing renewable energy property; and
(c) Providing that county assessors may consider additional valuation methods in determining the true and fair value of renewable energy property when a compelling reason exists.
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