Income tax, state; renewable energy property and energy audit tax credits. (HB1542)
Introduced By
Del. Kaye Kory (D-Falls Church)
Progress
✓ |
Introduced |
✗ |
Passed Committee |
☐ |
Passed House |
☐ |
Passed Senate |
☐ |
Signed by Governor |
☐ |
Became Law |
Description
Income tax; renewable energy property and energy audit tax credits. Grants an income tax credit for taxable years beginning on or after January 1, 2012, to individuals for renewable energy property and residential energy audits as follows: Solar panels tax credit - $1.25/watt for first 2,000 watts; $0.75/watt for 2,001‐8,000 watts; $0.25/watt for 8,001‐20,000 watts; not to exceed $10,500. Solar hot water tax credit - up to $2,000. Geothermal heat pumps - 10 percent of installed cost up to $3,000 tax credit. Residential energy audits - 50 percent of cost up to $250 tax credit; one per five-year period. The bill also grants an income tax credit for taxable years beginning on or after January 1, 2012, to commercial business taxpayers for renewable energy property and energy audits as follows: Solar panels tax credit - $1.25/watt for first 2,000 watts; $0.75/watt for 2,001‐8,000 watts; $0.25/watt for 8,001‐20,000 watts; not to exceed $2.5 million. Solar hot water tax credit - 25 percent of installed cost up to $10,000. Geothermal heat pumps tax credit - 10 percent of installed cost up to $10,000. Commercial building energy audit - 50 percent of cost up to $500 tax credit; one per five-year period. Read the Bill »
Outcome
History
Date | Action |
---|---|
01/03/2011 | Committee |
01/03/2011 | Prefiled and ordered printed; offered 01/12/11 11101664D |
01/03/2011 | Referred to Committee on Finance |
01/17/2011 | Assigned Finance sub: #3 |
01/20/2011 | Impact statement from TAX (HB1542) |
01/28/2011 | Subcommittee recommends laying on the table |
02/08/2011 | Left in Finance |