Bill No.: HB0215 Drafter: JDA

 

LSO No.: 09LSO-0548 Effective Date:

 

Enrolled Act No.: HEA0070

 

Chapter No.: 117

 

Prime Sponsor: Representative Anderson, R.

 

Catch Title: Tax exemption for renewable resources.

 

Subject: Tax exemption for renewable resources.

 

 

 

Summary/Major Elements:

This bill amends the existing tax exemption for equipment used to generate electricity from renewable resources by specifying that the exemption only applies to certain projects if:

 

o       The developer is the landowner or has a specific agreement with the landowner. This provision is repealed effective December 31, 2011; or

 

o       The projects has a net rating of not more than twenty-five kilowatts or is entirely for off-grid use. This provision is repealed effective June 30, 2012.

 

Comments:

 

The tax exemption, as amended by this bill, is applicable on and after January 1, 2010 and the exemption will be fully repealed effective June 30, 2012.