Energy storage systems; definitions, tax exemption, revenue share for systems.

Taxation of public service corporations; electric suppliers; storage. Amends the definition of electric supplier to include certain battery storage facilities with a storage capacity greater than 25 megawatts and subjects such facilities to central assessment by the State Corporation Commission. The bill also requires battery storage facilities qualifying as electric suppliers to file an annual report to the Commission.The bill also defines "energy storage system" as equipment, facilities, or devices that are capable of absorbing energy, storing it for a period of time, and redelivering that energy after it has been stored. The bill provides that energy storage systems shall be considered certified pollution control equipment and facilities and shall be exempt from local property taxation. The tax exemption applies only to certain projects with alternating current (AC) storage capacity of more than five megawatts and less than 150 megawatts. The bill also provides that a locality may assess a revenue share of up to $1,400 per megawatt of alternating current (AC) storage capacity on energy storage systems.