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  • NJ A4740
  • Provides gross income tax credit for costs to purchase and install smart thermostats.
Introduced
(3/20/2017)
In Committee
(5/18/2017)
Crossed OverPassedSignedDead/Failed/Vetoed
2016-2017 Regular Session
This bill would provide a gross income tax credit of 50 percent of the cost of the purchase and installation of a smart thermostat in a residential property, not to exceed $250. The tax credit would be funded through the societal benefits charge, commonly referred to as the "Clean Energy Fund." The bill defines "smart thermostat" as a thermostat with a wireless Internet connection, which may be used alone or as part of a larger home automation platform. The bill directs the Board of Public Utilities (BPU) to adopt rules and regulations to effectuate the purposes of the bill, including energy efficiency standards to which a smart thermostat must conform to qualify for the tax credit. In order to receive the tax credit created by this bill, an applicant would be required to receive certification from the BPU in accordance with standards to be established by the BPU. Once an application for certification has been received by the BPU, the BPU would have 90 days to review it and issue a certification, as appropriate. The tax credit is refundable if the amount of the credit exceeds the taxpayer's liability for the taxable year.
Environment and Solid Waste
Reported and Referred to Assembly Appropriations Committee  (on 5/18/2017)
 
 
Date Chamber Action Description
5/18/2017 A Reported and Referred to Assembly Appropriations Committee
3/20/2017 A Introduced, Referred to Assembly Environment and Solid Waste Committee
Date Motion Yea Nay Other
Detail 5/18/2017 Assembly Environment and Solid Waste Committee: Reported Favorably 6 0 0