SF 2318: Relating to the solar energy system tax credit available against the individual or corporate income tax, the franchise tax, and 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 available against individual and corporate income taxes, the franchise tax, and the moneys and credits tax. BACKGROUND. Currently, the solar energy system tax credit for residential installations has expired for installations completed after December 31, 2021. The solar energy system tax credit remains available for the construction of a commercial solar energy system commenced before calendar year 2022. 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.

Senate subcommittee · named February 22, 2022

• Sen. Dan Dawson (R) · dan.dawson@legis.iowa.gov
• Sen. Tim Goodwin (R)
• Sen. T. Taylor

Lobbying · 2 for, 0 against

For: Iowa Chapter of Sierra Club; Iowa Environmental Council

In plain words

1. February 17, 2022Filed in the Senate and sent to the Ways and Means committee
2. February 22, 2022Senate subcommittee named: Dawson, Goodwin and T. Taylor