House
File
476
-
Introduced
HOUSE
FILE
476
BY
KLEIN
A
BILL
FOR
An
Act
relating
to
solar
energy
system
tax
credits,
and
1
including
applicability
provisions.
2
BE
IT
ENACTED
BY
THE
GENERAL
ASSEMBLY
OF
THE
STATE
OF
IOWA:
3
TLSB
2626YH
(2)
88
jm/jh
H.F.
476
Section
1.
Section
422.11L,
subsection
4,
paragraph
a,
Code
1
2019,
is
amended
to
read
as
follows:
2
a.
The
cumulative
value
of
tax
credits
claimed
annually
by
3
applicants
pursuant
to
this
section
shall
not
exceed
five
ten
4
million
dollars.
Of
this
amount,
at
least
one
million
dollars
5
shall
be
reserved
for
claims
associated
with
or
resulting
from
6
residential
solar
energy
system
installations.
In
the
event
7
that
the
total
amount
of
claims
submitted
for
residential
solar
8
energy
system
installations
in
a
tax
year
is
an
amount
less
9
than
one
million
dollars,
the
remaining
unclaimed
reserved
10
amount
shall
be
made
available
for
claims
associated
with
or
11
resulting
from
nonresidential
solar
energy
system
installations
12
received
for
the
tax
year.
13
Sec.
2.
APPLICABILITY.
This
Act
applies
to
tax
years
14
beginning
on
or
after
January
1,
2020.
15
EXPLANATION
16
The
inclusion
of
this
explanation
does
not
constitute
agreement
with
17
the
explanation’s
substance
by
the
members
of
the
general
assembly.
18
This
bill
increases
the
maximum
cumulative
value
of
solar
19
energy
system
tax
credits
eligible
to
be
claimed
annually
by
20
applicants
from
$5
million
to
$10
million.
21
The
bill
applies
to
tax
years
beginning
on
or
after
January
22
1,
2020.
23
-1-
LSB
2626YH
(2)
88
jm/jh
1/
1