09 LC 18
8032
House
Bill 419
By:
Representatives Smith of the
70th,
Ehrhart of the
36th,
Stephens of the
164th,
Golick of the
34th,
Jacobs of the
80th,
and others
A
BILL TO BE ENTITLED
AN ACT
AN ACT
To
amend Code Section 48-7-29.14 of the Official Code of Georgia Annotated,
relating to the income tax credit for certain clean energy property, so as to
change certain provisions regarding allocation and prioritization of credits; to
change certain provisions regarding domestic water heating installations; to
provide for an effective date; to provide for applicability; to repeal
conflicting laws; and for other purposes.
BE
IT ENACTED BY THE GENERAL ASSEMBLY OF GEORGIA:
SECTION
1.
Code
Section 48-7-29.14 of the Official Code of Georgia Annotated, relating to the
income tax credit for certain clean energy property, is amended by revising
subparagraph (b)(4)(B) as follows:
"(B)
The commissioner shall allow the tax credits on a first come, first served
basis. In no event shall the aggregate amount of tax credits approved by the
commissioner for all taxpayers under this Code section in a calendar year exceed
the limitations specified in paragraph (3) of this
subsection.
In the event a taxpayer filed a timely application for such credit but is not
allowed all or part of the credit amount to which such taxpayer would be
authorized to receive because the limitations specified in paragraph (3) of this
subsection have reached, such taxpayer may reapply in the following taxable year
for a tax credit for those same eligible costs, and in such event, that taxpayer
shall have priority over other taxpayers for credit allocation in the year of
such reapplication;"
SECTION
2.
Said
Code section is further amended by revising division (b)(5)(A)(ii) to read as
follows:
"(ii)
The sum of $100,000.00 per installation applies to clean energy property related
to solar energy equipment for domestic water heating as described in
subparagraph (a)(3)(A) of this Code section which is certified for performance
by the Solar Rating Certification Corporation, Florida Solar Energy Center, or
by a comparable entity approved by the authority to have met the certification
of Solar Rating Certification Corporation OG-100 or Florida Solar Energy
Center-GO-80 for solar thermal
collectors,
Solar Rating Certification Corporation certification OG-300 or Florida Solar
Energy Center-GP-5-80 for solar thermal residential systems, or
both;"
SECTION
2.
This
Act shall become effective upon its approval by the Governor or upon its
becoming law without such approval and shall be applicable to all taxable years
beginning on or after January 1, 2009.
SECTION
3.
All
laws and parts of laws in conflict with this Act are repealed.