Bill Text: HI SB77 | 2010 | Regular Session | Introduced
Bill Title: Tax Credit; Renewable Energy; Condominium Association
Spectrum: Partisan Bill (Democrat 1-0)
Status: (Introduced - Dead) 2009-05-11 - Carried over to 2010 Regular Session. [SB77 Detail]
Download: Hawaii-2010-SB77-Introduced.html
Report Title:
Tax Credit; Renewable Energy; Condominium Association
Description:
Clarifies that the renewable energy tax credit applies to condominium associations and its members.
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THE SENATE |
S.B. NO. |
77 |
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TWENTY-FIFTH LEGISLATURE, 2009 |
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STATE OF HAWAII |
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A BILL FOR AN ACT
relating to taxation.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF HAWAII:
SECTION 1. Section 235-12.5, Hawaii Revised Statutes, is amended by amending subsection (b) to read as follows:
"(b) For the purposes of this section:
"Actual cost" means costs related to the renewable energy technology systems under subsection (a), including accessories and installation, but not including the cost of consumer incentive premiums unrelated to the operation of the system or offered with the sale of the system and costs for which another credit is claimed under this chapter.
"Corporate taxpayer" shall include a condominium association and its members.
"Renewable energy technology system" means a new system that captures and converts a renewable source of energy, such as wind, heat (solar thermal), or light (photovoltaic) from the sun into:
(1) A usable source of thermal or mechanical energy;
(2) Electricity; or
(3) Fuel.
"Solar or wind energy system" means any identifiable facility, equipment, apparatus, or the like that converts insolation or wind energy to useful thermal or electrical energy for heating, cooling, or reducing the use of other types of energy that are dependent upon fossil fuel for their generation."
SECTION 2. New statutory material is underscored.
SECTION 3. This Act, upon its approval, shall apply to taxable years beginning after December 31, 2008.
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INTRODUCED BY: |
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