Bill > HF641

This bill amends the solar energy system tax credit available against the individual and corporate income tax, the franchise tax, and the moneys and credits tax. The bill sets the tax credit at 15% of the gross cost of the solar energy system, with a maximum credit of $5,000 for residential systems and $20,000 for commercial systems. The bill also establishes a cumulative annual cap of $10 million for the tax credits and creates a wait list for applications that exceed the cap. The bill applies retroactively to January 1, 2021, and includes an immediate effective date provision.