HOUSE BILL 741

File Code: Utility Regulation Crossfiled with: SENATE BILL 622

Sponsored By:

Delegate Sher

Entitled:

State Income Tax Credit for Competitive Transition Charges Paid for On-Site Generated Electricity

Synopsis:

Allowing a credit against the State income tax for competitive transition charges paid to an electric company in the State for on-site generated electricity generated at a facility that combines heating and power output with an energy efficiency of at least 70%; and applying the Act to tax years after 1999.

History by Legislative Date

House Action

2/10

First Reading Ways and Means

2/16

Hearing 3/2 at 1:00 p.m.

2/17

Hearing cancelled

Hearing 3/2 at 2:00 p.m.

3/27

Unfavorable Report by Ways and Means

Senate Action

No Action

Bill indexed under the following Subjects:

CONSERVATION -see also- SOIL CONSERVATION

ENERGY MATTERS -see also- FUEL; POWER PLANTS; SOLAR ENERGY

FEES -see also- DEVELOPMENT FEES AND TAXES

INCOME TAX

TAX CREDITS -see also- CIRCUIT BREAKER

UTILITIES -see also- HIGH VOLTAGE LINES; TELEPHONES; WATER

Bill affects the following Statute:

Tax - General

( 10-718 )

Documents:

Bill Text: First Reading (PDF), Third Reading, Enrolled

Fiscal Note: Available (PDF)

Amendments: None offered