(a) Oil and gas rights and other elements of economic units shall be exempt from taxation if owned by a school district or board of cooperative educational services;

(b) Oil and gas rights and other elements of economic units shall be exempt from taxation if owned by an organization whose property is exempt from taxation pursuant to section four hundred twenty-a of this chapter, except that such property shall be taxable to the extent that the oil and gas produced is sold rather than used by the owner, regardless of the use to which the revenues are devoted;

(c) Unless a local law, ordinance or resolution has been adopted pursuant to paragraph (a) of subdivision one of section four hundred twenty-b of this chapter, oil and gas rights and other elements of economic units shall be exempt from taxation if owned by an organization whose property is exempt pursuant to such section four hundred twenty-b, except that such property shall be taxable to the extent that the oil and gas produced is sold rather than used by the owner, regardless of the use to which the revenues are devoted; and

(d) Oil and gas rights and other elements of economic units shall be exempt from taxation if the gas produced in the economic unit is collected from a landfill or used to power farm waste energy systems or farm waste electric generating equipment, as such term is defined in section sixty-six-j of the public service law. Such exemption shall apply to property on assessment rolls based on taxable status dates occurring on or before December thirty-first, two thousand seventeen. 4. Where an oil or gas economic unit is located within more than one assessing unit, the appropriate county director or county directors shall certify to the assessors the percentage of capital investment in property located within each such assessing unit. The assessor shall apportion the assessment of economic units among school districts and special districts based upon the percentage of capital investment located within each such district.