Bills › 89th General Assembly
Relating to the solar energy system tax credit, and including effective date and retroactive applicability provisions
Sponsored by the House Ways and Means Committee
Topics:Energy & utilitiesTaxesTax credits & incentivesWind & solar
Where it is now
- Done: IntroducedFebruary 15, 2022
- Done: SubcommitteeFebruary 15, 2022
- Done: House committeeMarch 8, 2022
- Done: Passes the HouseMarch 30, 202294–0
- Stopped: Senate committeeDied when the General Assembly ended
- Next: Passes the Senate
- Next: To the Governor
- Next: Signed into law
Died when the session ended The General Assembly adjourned on May 24, 2022. Bills that didn’t pass both chambers died. What’s a funnel?
What’s in it
This bill relates to the solar energy system tax credit available against the individual and corporate income tax, the franchise tax, and the moneys and credits tax. BACKGROUND. Currently, the solar energy system tax credit expired for residential installations completed after December 31, 2021, due to conforming with a version of federal law that no longer applies. Additionally, a maximum of $5 million of both residential and commercial solar energy system credits may be annually claimed in the aggregate, and a wait list exists for installations completed on or prior to December 31, 2021.
Read the full explanation
CHANGES IN THE BILL. The bill changes the solar energy system tax credit application due date for residential installations that were completed during the 2021 calendar year from May 1, 2022, to June 30, 2022. The bill also removes the annual maximum $5 million limit placed on residential solar energy system tax credit claims for certain applicants. The bill does not extend the residential solar energy system tax credit for installations that are completed after December 31, 2021. The following residential solar energy system tax credit applicants are eligible to claim the solar energy system tax credit for the 2022 tax year as if the residential solar energy system tax credit did not expire: an applicant with a valid application who was on the wait list as of December 31, 2021, and who did not receive the credit; an applicant whose application went through the review process of the department of revenue and who otherwise had a valid application but was nevertheless sent a denial letter by the department of revenue for the 2021 award year regardless of whether or not the applicant appealed the denial letter; an applicant whose application was in the review process of the department of revenue but whose application expired due to the expiration of the credit; and an applicant who has not submitted an application for an installation that was completed during the 2021 calendar year. The bill takes effect upon enactment and applies retroactively to the tax year beginning on or after January 1, 2022, but before January 1, 2023.
From the explanation printed with the bill as introduced, written by the Legislative Services Agency. Amendments adopted later aren’t reflected. Full bill text
Senate subcommittee
Named April 4, 2022. It hasn’t reported yet.
- Sen. Tim Goodwin R
- Sen. Dan Dawson REmail
- Sen. T. Taylor
Three legislators hear a bill first and recommend what the committee should do; it’s the best time to weigh in. How to take part
Fiscal note
3 million each fiscal year There is no projected fiscal impact beyond FY 2030. Source Department of Revenue /s/ Holly M. Lyons March 17, 2022 Doc ID 1288581 The fiscal note for this Bill was prepared pursuant to Joint Rule 17 and the Iowa Code. Data used in developing this fiscal note is available from the Fiscal Services Division of the Legislative Services Agency upon request.
- Solar Tax Credit · March 17, 2022
- Solar Tax Credit · March 14, 2022
Nonpartisan cost estimates from the Legislative Services Agency’s Fiscal Services Division. The newest is first. Reading a fiscal note
Iowa Code it changes
Amends§422.11L
Read from the bill as introduced. Each links to every bill touching that chapter of the Iowa Code. How the Code works
Lobbying
9 for · 0 against · 15 undecided · Who →
Family tree
Where this legislation came from and where it went: earlier tries, the versions it moved through this Assembly, and later bills built on it.
Earlier and later bills are matched by wording or an identical title; check the text to be sure it’s the same idea.