Fiscal Note
SB0013S03 - Tax Incentives for Alternate Power Generation
State Impact:
Enactment of this bill will reduce the Education Fund by $688,200 in FY 2008 and by $2,326,700 in FY 2009. There is a potential loss of General Fund of $644,000 annually. When all facilities are expected to be fully operational (FY 2011) the revenue loss would be approximately $5,481,700.
| Funding Source | FY 2007 Approp. | FY 2008 Approp. | FY 2009 Approp. | FY 2007 Revenue | FY 2008 Revenue | FY 2009 Revenue |
| General Fund | $0 | $0 | $0 | $0 | ($644,000) | ($644,000) |
| Uniform School Fund | $0 | $0 | $0 | $0 | ($688,200) | ($2,326,700) |
| Total | $0 | $0 | $0 | $0 | ($1,332,200) | ($2,970,700) |
Individual, Business and/or Local Impact:
Individuals or businesses installing residential renewable energy units could receive a credit of up to $2,000. Businesses can receive a credit of .35 cents for each kilowatt hour produced and either used or sold.
| 2/20/2007, 6:40:06 PM, Lead Analyst: Wilko, A. | Office of the Legislative Fiscal Analyst |