Provides CBT tax credit for retrofit of existing warehouses with solar-ready zone once solar panels are installed.
This bill provides a tax credit for businesses that retrofit existing warehouses (100,000+ square feet) with designated solar-ready zones, but only after solar panels are installed. The credit covers up to 50% of retrofit costs or $250,000 per warehouse, with a total limit of $25 million across all claims. To qualify, warehouses must meet size requirements, have a solar-ready zone (defined as at least 40% of roof area designated for solar panels), and have panels installed. Businesses must prove panel installation to claim the credit, which applies to up to eight warehouses per tax period.
Bill status
in committee
1 of 4 stages cleared
Introduction
Jan 2024
Committee Review
Floor Vote
Governor
Introduced Jan 9, 2024
Last action Feb 5, 2024
Floor votes
How they voted
No floor votes recorded yet.
Full legislative history
Actions timeline
Total actions
3
Key actions
1
Committee
2
Feb 5, 2024
Committee
Referred to Senate Budget and Appropriations Committee
upper
Feb 5, 2024
Upper · Passed
Reported out of Senate Committee, 2nd Reading
upper
Jan 9, 2024
Introduced
Introduced in the Senate, Referred to Senate Environment and Energy Committee
upper
2 primary · 1 co-sponsor
Sponsors
Role
Legislator
Party
State
District
P
Bob Smith
DDemocratic
P
NP
Nellie Pou
DDemocratic
Co
Linda Greenstein
DDemocratic
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