SB 372; 2R - Renewable Energy Safe Harbor

According to the bill’s fiscal note: The bill amends the sunset provision for the renewable energy property investment tax credit, providing that the tax credit expires as scheduled under current law on January 1, 2016, unless the taxpayer meets specified requirements related to partial completion of the project, upon which the tax credit will expire on January 1, 2017. Legislative fiscal research projects that extending the credit would generate an additional $183 million worth of refundable tax credits over the next five years. Civitas believes the conservative position opposes targeted tax credits that benefit a specific industry, and that all businesses should be subject to the same rules. The conservative vote is no.