(a) if the solar electric generating system is placed in service on or
after the effective date of this title and before January first, two
thousand eleven, for each year of the compliance period such tax
abatement shall be the lesser of (i) eight and three-fourths percent of
eligible solar electric generating system expenditures, (ii) the amount
of taxes payable in such tax year, or (iii) sixty-two thousand five
hundred dollars; or
(b) if the solar electric generating system is placed in service on or
after January first, two thousand eleven, and before January first, two
thousand thirteen, for each year of the compliance period such tax
abatement shall be the lesser of (i) five percent of eligible solar
electric generating system expenditures, (ii) the amount of taxes
payable in such tax year, or (iii) sixty-two thousand five hundred
dollars; or
(c) if the solar electric generating system is placed in service on or
after January first, two thousand thirteen, and before January first,
two thousand fourteen, for each year of the compliance period such tax
abatement shall be the lesser of (i) two and five-tenths percent of
eligible solar electric generating system expenditures, (ii) the amount
of taxes payable in such tax year, or (iii) sixty-two thousand five
hundred dollars; or
(d) if the solar electric generating system is placed in service on or
after January first, two thousand fourteen, and before January first,
two thousand twenty-four, for each year of the compliance period such
tax abatement shall be the lesser of (i) five percent of eligible solar
electric generating system expenditures, (ii) the amount of taxes
payable in such tax year, or (iii) sixty-two thousand five hundred
dollars; or
(e) if electric energy storage equipment is placed in service on or
after January first, two thousand nineteen, and before January first,
two thousand twenty-four, for each year of the compliance period such
tax abatement shall be the lesser of (i) ten percent of eligible
electric energy storage equipment expenditures, (ii) the amount of taxes
payable in such tax year, or (iii) sixty-two thousand five hundred
dollars.
2. Such tax abatement shall commence on July first following the
approval of an application for tax abatement by a designated agency, and
may not be carried over to any subsequent tax year.
3. With respect to any eligible building held in the condominium form
of ownership that receives a tax abatement pursuant to this title, such
tax abatement benefits shall be apportioned among all of the condominium
tax lots within such eligible building.
4. If, as a result of application to the tax commission or a court
order or action by the department of finance, the billable assessed
value for any fiscal year in which the tax abatement is taken is reduced
after the assessment roll becomes final, the department of finance shall
recalculate the abatement so that the abatement granted shall not exceed
the annual tax liability as so reduced. The amount equal to the
difference between the abatement originally granted and the abatement as
so recalculated shall be deducted from any refund otherwise payable or
remission otherwise due as a result of such reduction in billable
assessed value.