SB91: Income tax, corporate and state; production of electricity from renewable resources tax credit.

Chief Patron

Sen. John Watkins (R-10)

Status

Bill is Dead

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Summary

Income tax credit; production of electricity from renewable resources.  Provides an individual and corporate income tax credit for producing electricity from renewable resources of energy. Tax credit would be allowed for electricity that is produced in the 10-year period beginning on the date that a qualified facility for producing electricity from renewable resources is placed in service. The credit amount would equal 0.85 cents for each kilowatt of electricity produced from renewable resources that is sold by the taxpayer to an unrelated person.

The bill would be effective for taxable years beginning January 1, 2007.   View Full Text »