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E-M:/ HB 4092 - Tax Credits for Renewable Power Sources

Enviro-Mich message from njwhitaker524@cs.com

There has been significant discussion over the last couple weeks about residential-scale renewable (wind, solar) energy projects.

Yesterday, Rep. Chris Kolb (D-Ann Arbor), introduced HB 4092, which would provide income tax credits for landlords who leased property to be used for renewable energy projects.  

The bill would allow for landlords to receive tax credits equal to the entire lease payment they received for the year.  If the credit exceeded their tax liability, they would receive the difference as a tax refund.

Currently, the bill is being co-sponsored by Paul Gieleghem (D-Clinton Township), Paula Zelenko (D-Burton), Michael Murphy (D-Lansing), and John Gleason (D-Flushing).  It has been referred to the House Committee on Tax Policy, chaired by Rep. Lorence Wenke (R-Richland).

To access full text of the bill, as well as status and legislative analysis (not yet available), visit http://www.mileg.org/mileg.asp?page=getObject&objName=2003-HB-4092&userid=


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