HF 323: Relating to the solar energy system tax credit available against the individual and corporate income tax, the franchise tax, the moneys and credits tax, and including effective date and retroactive applicability provisions

What it does

This bill relates to the solar energy system tax credit. Under existing law, the Iowa solar energy system tax credit available against the individual or corporate income tax, the franchise tax, or the moneys and credits tax equals the sum of percent of the federal residential energy efficient property credit, not to exceed $5,000, plus percent of the federal energy credit related to solar energy systems, not to exceed $20,000. The bill maintains the existing framework of the solar energy system tax credit as a percentage of the federal energy credit but creates a new Iowa solar energy system tax credit for installations completed on or after January 1, 2021.

Lobbying · 6 for, 0 against

For: Center for Rural Affairs; IA Mental Health Planning Council; Iowa Chapter of Sierra Club; Iowa Conference of United Methodist Church; Iowa Environmental Council; Iowa Solar Energy Trade Association

In plain words

1. February 1, 2021Filed in the House and sent to the Ways and Means committee