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  This provision is repealed effective December 31, 2011; or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  This provision is repealed effective June 30, 2012.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The tax exemption, as amended by this bill, is applicable on and after January 1, 2010 and the exemption will be fully repealed effective June 30, 2012.