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United States · Bill · S

S. 1379 (94th)

Solar Tax Incentives Act

referredUnited States· United States Congress· EN

Introduced

8 April 1975

Last action

8 April 1975 · Introduced

Status

Referred to Senate Committee on Finance.

Sponsors

Sen. Fannin, Paul J. [R-AZ], Sen. Nunn, Sam [D-GA], Sen. Fong, Hiram L. [R-HI], Sen. Sparkman, John J. [D-AL], Sen. Goldwater, Barry [R-AZ], Sen. Ford, Wendell H. [D-KY], Sen. Young, Milton R. [R-ND], Sen. Scott, Hugh [R-PA], Sen. Thurmond, Strom [R-SC], Sen. Humphrey, Hubert H. [D-MN], Sen. Stevens, Ted [R-AK], Sen. Jackson, Henry M. [D-WA], Sen. Morgan, Robert B. [D-NC], Sen. Domenici, Pete V. [R-NM], Sen. Montoya, Joseph M. [D-NM], Sen. McClure, James A. [R-ID], Sen. McIntyre, Thomas J. [D-NH]

Subjects

Taxation

Source updated

2 September 2025

Taxation

Official sourceView documentsShare

Summary

Solar Tax Incentives Act - Allows, under the Internal Revenue Code, as a credit against the income tax an amount equal to the ordinary and necessary expenses paid during the taxable year for the application of solar energy to the principal residence and/or place of business through the installation of solar heating energy equipment. Limits such credit for residences to 25 percent of any qualified expense not to exceed $2,000 during January 1, 1975, to December 31, 1979, and 15 percent not to exceed $200 during January 1, 1980 through December 31, 1984. Limits such credit in commercial buildings to 12 percent of any qualified expense during January 1, 1975, and December 31, 1979, and 10 percent of any qualified expense during January 1, 1980, and December 31, 1984. Allows as deduction from gross income the amortization for the taxable year based on a period of 60 months for the solar energy equipment installed and capable of normal functioning.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

  1. 8 April 1975

    Introduced

    Referred to Senate Committee on Finance.

    Source: IntroReferral

  2. 8 April 1975

    Introduced

    Introduced in Senate

    Source: IntroReferral

Votes

No vote records are attached yet.

Versions

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Documents

1 official file

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Sponsors

Related records

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Sources

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