S.B.
224
RENEWABLE ENERGY TAX CREDIT AMENDMENTS
Senate Floor
Amendments
Amendment 1 March 5, 2014 11:45 AM
Senator Ralph Okerlund
proposes the following amendments:
1. Page
1, Line 18
:
18
This bill takes effect for a taxable year beginning on or after January 1,
{
2016
}
2015
.
2. Page
4, Lines 108 through 112
:
108
(b) (i) [For taxable years beginning on or after January 1, 2007, a] A business entity
109
that purchases or participates in the financing of a commercial energy system situated in Utah
110
[is entitled to] may claim a refundable tax credit as provided in this Subsection (2)(b) if the
111
commercial energy system does not use wind, geothermal electricity, solar, or biomass
112
equipment capable of producing a total of 660 or more kilowatts of electricity
or if the commercial energy
system does not use solar equipment capable of producing 2,000 or more kilowatts of electricity
, and:
3. Page
6, Lines 168 through 174
:
168
(3) (a) A business entity that owns a commercial energy system located in the state that
169
uses solar equipment capable of producing a total of 660 or more kilowatts of electricity may
170
claim a refundable tax credit as provided in this Subsection (3) if:
171
(i)
(A)
the commercial energy system supplies all or part of the energy required by
172
commercial units owned or used by the business entity; or
173
{
(ii)
}
(B)
the business entity sells all or part of the energy produced by the commercial
174
energy system as a commercial enterprise
; and
(ii) the business entity does not claim a tax credit under Subsection (2)(b)
.
4. Page
6, Lines 179 through 181
:
179
(c) The tax credit under this Subsection (3) may be claimed for production occurring
180
during a period of 48 months beginning with the month in which the
{
commerical
}
commercial
energy
181
system is placed in commercial service.
5. Page
7, Lines 183 through 184
:
183
(e) The tax credit under this Subsection (3) is allowed for a
{
commerical
}
commercial
energy system
184
completed and placed in service on or after January 1,
6. Page
7, Lines 185 through 187
:
185
(f) A business entity that leases a
{
commerical
}
commercial
energy system installed on a
commercial
186
unit may claim a tax credit under this Subsection (3) if the business entity that is the lessee can
187
confirm that the lessor irrevocably elects not to claim the tax credit.
7. Page
8, Line 215
:
215
This bill takes effect for a taxable year beginning on or after January 1,
{
2016
}
2015
.
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