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Bill > S1566


MA S1566

MA S1566
To promote reusable energy use in the Commonwealth


summary

Introduced
04/15/2015
In Committee
04/15/2015
Crossed Over
Passed
Dead
07/31/2016

Introduced Session

189th General Court

Bill Summary

For legislation to promote reusable energy use in the Commonwealth. Revenue.

AI Summary

This bill proposes to amend Chapter 62 of the General Laws to offer a one-time tax credit to owners of residential property in the Commonwealth for purchasing and installing energy-efficient items between September 1, 2014, and March 31, 2016. The credit will be 50% of the cost of these items, with a maximum of $1,000 for a single-family dwelling and $1,500 for a multi-unit dwelling, and joint owners will share the credit proportionally. This credit can be claimed in taxable years between 2014 and 2016, and any unused portion can be carried over to future years, though it cannot exceed the total tax due in any given year. The Commissioner of Revenue will establish rules for implementation, including eligibility for condominium and cooperative owners, and "energy efficient heating items" are defined broadly to include insulation, new windows, efficient heating systems, and solar hot water systems, while "net expenditure" accounts for the total cost minus any other received credits, grants, or rebates.

Committee Categories

Budget and Finance

Sponsors (1)

Last Action

Accompanied a study order, see S2290 (on 05/12/2016)

bill text


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