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2001 SESSION

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HB 2474 Income tax credit; solar energy equipment.

Introduced by: Kenneth R. Plum | all patrons    ...    notes | add to my profiles

SUMMARY AS PASSED HOUSE: (all summaries)

Income tax credit; solar energy equipment. Provides a personal and corporate income tax credit for the purchase and installation of equipment that (i) generates electricity from solar energy or (ii) uses solar energy to heat or cool a structure or provide hot water. The amount of the credit shall be 15 percent of the cost of purchasing and installing eligible equipment, capped at $1,000 per year. The credit is nonrefundable, and any unused tax credit may be carried over for five years until all the tax credit is taken. The equipment must provide a minimum of 10 percent of the building’s energy needs, and must be approved by the Department of Mines, Minerals, and Energy. This is a recommendation of the Consumer Advisory Board established under the Electric Utility Restructuring Act. The credit sunsets January 1, 2006. This bill was incorporated into HB 2416.


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