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

Introduced By

Sen. John Watkins (R-Midlothian)

Progress

Introduced
Passed Committee
Passed House
Passed Senate
Signed by Governor
Became Law

Description

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. Read the Bill »

Outcome

Bill Has Failed

History

DateAction
01/06/2006Prefiled and ordered printed; offered 01/11/06 069107840
01/06/2006Referred to Committee on Finance
01/23/2006Fiscal impact statement from TAX (SB91)
02/14/2006Left in Finance (15-Y 0-N)