A 4021
Provides CBT and gross income tax credits for certain energy infrastructure upgrades.
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- Passed General Assembly
- Passed Senate
- To Governor
- Became Law
Bill overview
This bill creates tax credits for generators – businesses that produce electricity for sale – who upgrade their existing energy infrastructure. Specifically, it offers both a corporate business tax (CBT) and a gross income tax credit to those who increase their electricity generation by at least five percent through eligible upgrades like energy efficiency improvements or renewable energy integration. The credits are capped at $5 million or 75% of upgrade costs, whichever is lower, and are subject to reporting requirements and a cumulative spending limit.
Sponsors
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Primary sponsor
Alex Sauickie
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