                                 CODE OF VIRGINIA

LOCAL TAXATION FOR SOLAR PHOTOVOLTAIC PROJECTS FIVE MEGAWATTS OR LESS (§
58.1-2606.1)

A. Notwithstanding clause (iv) of subsection C of &#xA7; 58.1-3660, generating
equipment of solar photovoltaic projects five megawatts or less shall be taxable
by a locality, at a rate determined by such locality, but shall not exceed the
real estate rate applicable in that locality, and notwithstanding subsection F
of &#xA7; 58.1-3660, the exemption shall be as follows: 80 percent of the
assessed value in the first five years in service after commencement of
commercial operation, 70 percent of the assessed value in the second five years
in service, and 60 percent of the assessed value for all remaining years in
service.

B. Notwithstanding clause (iii) of subsection B of &#xA7; 58.1-2636, solar
photovoltaic projects five megawatts or less shall not be exempt from the
assessment of a revenue share by ordinance of that locality, as otherwise
authorized pursuant to the provisions of &#xA7; 58.1-2636. If a locality
assesses a revenue share on solar photovoltaic projects five megawatts or less
pursuant to this subsection, the exemption for such projects, as measured in
alternating current (AC) generation capacity, shall, in lieu of the amounts
specified in subsection A, be 100 percent of the assessed value.

C. Nothing herein shall be construed to authorize local taxation pursuant to
this section, &#xA7; 58.1-2636, or &#xA7; 58.1-3660 of generating or storage
equipment of solar photovoltaic projects that serve the electricity needs of
that property upon which such solar facilities are located, as is provided in
&#xA7; 15.2-2288.7.

HISTORY: 2022, cc. 492, 493.