Income Tax Credit - Energy Storage Systems (SB 758)
BILL SUMMARY:
SB 758 is the first in the nation energy storage tax credit. Allowing a credit against the State income tax for the total installed costs paid or incurred by a taxpayer that installs an energy storage system and who obtains a tax credit certificate from the Maryland Energy Administration; requiring the Administration to issue tax credits not to exceed specified amounts; prohibiting the Administration from issuing an aggregate amount of tax credit certificates exceeding $750,000 in a taxable year; applying the Act to all taxable years beginning after December 31, 2017.
STATE:
Maryland
FINAL LANGUAGE:
STATUTE:
Not Applicable
AUTHOR:
Senator Guy Guzzone
CO-AUTHORS:
none
SENATE VOTE:
| Yes: 46 | No: 0 |
| R: 14 | R: 0 |
| D: 32 | D: 0 |
ASSEMBLY VOTE:
| Yes: 101 | No: 11 |
| R: 39 | R: 11 |
| D: 62 | D: 0 |
FISCAL IMPACT:
LISTED SUPPORT:
LISTED OPPOSITION:
SENATE FLOOR ANALYSIS:
ASSEMBLY FLOOR ANALYSIS:
REGULATIONS PROGRAM:
