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2019 SESSION

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SB 1496 Installed Solar Energy Equipment Program Grant Fund; created.

Introduced by: Richard L. Saslaw | all patrons    ...    notes | add to my profiles | history

SUMMARY AS PASSED SENATE:

Income tax credit; solar energy equipment. Creates a grant program for the purchase and installation of solar energy equipment in certain nonresidential areas on and after January 1, 2019, to be administered by the Department of Mines, Minerals, and Energy.  The grant is capped at 35 percent of the installed cost of the system. The provisions of the bill are contingent on funding in a general appropriation act.

SUMMARY AS INTRODUCED:

Income tax credit; solar energy equipment. Creates a nonrefundable tax credit for the purchase and installation of solar energy equipment in certain nonresidential areas for taxable years beginning on and after January 1, 2019, but before January 1, 2024. The tax credit is capped at $100,000 per individual or 35 percent of the installed cost of the system, whichever is less. The aggregate amount of credits that can be issued in a fiscal year is capped at $10 million.