HB2129 Creates income tax credits designed to promote the use of renewable energy and the conservation of energy.
Sponsor: McLuckie, Steve (44) Effective Date:00/00/0000
CoSponsor: Bray, Joan (84) LR Number: 4690L.01I
Last Action: COMMITTEE: WAYS AND MEANS
04/11/2000 - Executive Session Held (H)
VOTED DO PASS
HB2129
Next Hearing:Hearing not scheduled
Calendar:Bill currently not on calendar
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BILL SUMMARIES BILL TEXT
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Available Bill Summaries for HB2129 Copyright(c)
* Introduced

Available Bill Text for HB2129
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BILL SUMMARIES

INTRODUCED

HB 2129 -- Renewable Energy

Co-Sponsors:  McLuckie, Bray

Beginning January 1, 2001, this bill establishes several income
tax credits for installing equipment that generates electricity
from renewable energy sources and for making improvements that
increase energy efficiency.  All credits are non-refundable and
may be carried forward for up to 5 years.

Homeowners may apply for a credit of the lesser of $3,750 or 25%
of the costs of installing solar electric generating equipment
in their principal residence, or a credit of the lesser of
$2,000 or 25% of the costs of installing electric generating
equipment that uses energy from renewable sources in their
principal residence.  Business owners are eligible for a credit
of the lesser of $250,000 or 35% of the costs of installing
electric generating equipment that uses energy from renewable
sources.  To claim these credits, the applicant must submit
plans to the Department of Natural Resources (DNR) before
installation, including proof that the equipment is expected to
remain in use for at least 5 years, and file a second
application with DNR upon project completion, including proof
that the building will remain in use as a principal residence or
business.

Homeowners are also eligible for a credit of the lesser of
$2,000 or 25% of the costs of making improvements in heating,
cooling, lighting, insulation, or other systems that increase
the energy efficiency of their principal residence.  The
improvements must increase the efficiency of an existing
residence by at least 25% or, for a new residence, exceed the
requirements of the latest Model Energy Code by at least 30%, as
determined by a certified home energy rating technician.  Single
family homes and individual residences in multi-dwelling
structures are eligible.  To claim this credit, homeowners must
submit an application to DNR with certification of the
efficiency improvements.  Those who qualify for this credit may
also apply for a one-time credit of the lesser of $250 or the
costs of the services of a certified home energy rating
technician.

Owners of commercial buildings and residential structures of
more than 3 stories are eligible for a credit of the lesser of
$2,000 or 25% of the costs of improvements in heating, cooling,
lighting, insulation, or other systems that increase the energy
efficiency of an existing structure by at least 25%, as
determined by a nationally recognized energy analysis process,
or, for a new structure, exceed the requirements of the latest
applicable building energy code by at least 30%, as determined
by a licensed professional architect or engineer.  To claim this
credit, owners must submit an application to DNR with
verification of the efficiency improvements.  Those who qualify
for this credit may also apply for a one-time credit of the
lesser of $50,000 or 10% of the costs of a technical energy
study by an architect or engineer.

The bill also requires electric service companies to provide
two-directional net energy metering to customers with electric
generating systems that are powered by renewable energy sources
and capable of producing no more than 100 kilowatts.  A standard
net metering contract must be approved by the Public Service
Commission and allow customers to feed excess electricity back
into the power grid to offset consumption costs over an annual
billing period.  Net metering will be provided on a first-come,
first-served basis until statewide capacity equals the lesser of
10,000 kilowatts or 10% of the state's peak electricity demand.
By January 1, 2006, the commission, in consultation with DNR,
must submit a progress report to the General Assembly and the
Governor and offer recommendations on increasing the amount of
allowable net metering.


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Last Updated October 5, 2000 at 11:36 am