Solar Energy Incentive Act

Summary

Solar Energy Incentive Act - Allows an individual to take a tax credit, under the Internal Revenue Code, in an amount equal to 25 percent of the qualified solar heating and cooling equipment expenditures incurred by the taxpayer with respect to his principal residence to the extent such expenditures do not exceed $8,000, plus that portion of the qualified State or local real property taxes paid or accrued for the taxable year attributable to such solar heating and cooling expenditures. Authorizes an individual to take a tax deduction for a part of the acquisition costs of any qualified solar heating and cooling equipment for any residence. Limits such deduction to the lesser of ten percent of the acquisition costs or $800 for the first two years of such acquisition, and five percent or $400 for the third year of such acquisition.

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Timeline

1. 7 April 1976

   Introduced

   Referred to Senate Committee on Finance.

   Source: IntroReferral

2. 7 April 1976

   Introduced

   Introduced in Senate

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

No version snapshots stored. Document URLs remain at the source.

Documents

1 official file

• Introduced in Senate

  summary · EN · 7 April 1976

  Open at official source

Sponsors

• Sen. Tunney, John V. [D-CA] · D · Sponsor
• · ssfi00 · Standing

Related records

• related to → Solar Energy Incentive Act