HB 641 -- Alternative Energy Income Tax Deduction

Sponsor:  Holsman

This bill authorizes an income tax deduction from a taxpayer's
state adjusted gross income for individuals who use specified
types of qualified fuel cell or solar energy to generate
electricity for their residences or certain geothermal heat pumps
to heat their homes.  Beginning January 1, 2009, owners of
certain types of fuel cell power plants used in connection with
dwellings may claim a deduction for the lesser of 50% of the
purchase price of the power plant or $2,000, and the owner of a
property that uses solar energy to generate power for a residence
may claim a deduction for the lesser of 50% of the purchase price
of the property or $8,000.  Owners of qualified geothermal heat
pumps may claim a deduction for the lesser of 50% of the purchase
price of the pump or $2,000.

The provisions of the bill will expire December 31 six years from
the effective date.

Missouri House of Representatives
95th General Assembly, 1st Regular Session
Last Updated November 17, 2009 at 9:25 am