Title:
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An Act concerning Energy Conservation Real Property Tax Credit For the purpose of providing that lessees of a solar energy device or geothermal energy device are eligible for the energy conservation real property tax credit; and generally relating to the energy conservation real property tax credit.
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Title
An Act concerning Energy Conservation Real Property Tax Credit For the purpose of providing that lessees of a solar energy device or geothermal energy device are eligible for the energy conservation real property tax credit; and generally relating to the energy conservation real property tax credit.
Background
The purpose of this bill is to provide that lessees of a solar energy device or of a geothermal energy device are eligible for the energy conservation real property tax credit. Leases include Solar Power Purchase Agreements which are a financial arrangement in which a third-party developer owns, operates, and maintains the photovoltaic (PV) system, and a host customer agrees to site the system on its roof or elsewhere on its property and purchases the system’s electric output from the solar services provider for a predetermined period. A taxpayer with a Solar Power Purchase Agreement or other type of leasing agreement is eligible for an energy conservation real property tax credit.