HB20-1299
Enterprise Zone Investment Tax Credit For Renewable Energy Investments
Concerning the enterprise zone investment tax credit for renewable energy investments, and, in connection therewith, extending the tax years that a taxpayer may elect to receive a refund of eighty percent of the amount of such credit and including investments in energy storage systems as qualified renewable energy investments.
Session:
2020 Regular Session
Subject:
Bill Summary
Business & Economic Development
The bill extends the tax years that a taxpayer may elect to receive a refund of 80% of the amount of an enterprise zone investment tax credit for renewable energy investments. Under current law, if a taxpayer elects such a refund, the taxpayer forgoes the remaining 20% of the amount of the enterprise zone investment tax credit.
The bill also adds investments in energy storage systems as a qualified renewable energy investment.
(Note: This summary applies to this bill as introduced.)