REENACT SOLAR ENERGY TAX CREDIT.

View NCGA Bill Details2021
House Bill 633 (Public) Filed Wednesday, April 21, 2021
AN ACT TO REENACT A SOLAR ENERGY TAX CREDIT.
Intro. by von Haefen.

Status: Ref To Com On Rules, Calendar, and Operations of the House (House action) (Apr 22 2021)

Bill History:

H 633

Bill Summaries:

  • Summary date: Apr 21 2021 - More information

    Reenacts GS 105-129.16A as it existed immediately before its expiration in 2016 and amends the statute as follows. Grants a taxpayer that has constructed, purchased, or leased qualifying solar energy equipment, as defined by statutory cross-reference (was, "renewably energy property"), a credit equal to 35% of the cost of the equipment if the equipment is placed in service in the State during the taxable year. Makes conforming changes to reflect the change in terminology to qualifying solar energy equipment. Modifies the nonbusiness credit ceilings to no longer include an $8,400 ceiling for each installation of geothermal equipment or a $10,500 ceiling for each installation of any other renewable energy property. Eliminates subsections (e) through (h), which provide for outdated sunset provisions. Effective for taxable years beginning on or after January 1, 2021. 


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