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House Passes Incentives for Alternative Energy Suppliers, Senate AFIG Bill Moves

The House unanimously passed House Bill 121 (Bard-R-Montgomery) which gives qualified businesses tax credits equal to 30 percent of the cost of capital equipment used to produce alterative energy for a period up to 15 years. Electricity generated by a qualified business at its facility either sold at wholesale or at retail or consumed by the qualified business would be exempt from sales and use tax.

The program would be allocated $30 million in tax credits for which Pennsylvania companies could apply.

The measure also establishes the Pennsylvania Clean Energy Fund to provide low-interest loans to finance the development and operation of a qualified alternative energy company. The fund also could be used by school districts, local governments, and not-for-profit organizations to purchase renewable energy equipment. The fund would be financed by a one-time $5 million transfer from the existing Alternative Fuels Incentive Grant Fund (AFIG).

Senate Bill 255 (Tomlinson-R-Bucks) making changes to DEP’s Alternative Fuels Incentive Grant Program was reported from the House Appropriations Committee this week and is in position for a final vote by the House.

Reminder: the next opportunity to apply for AFIG Grants will be in July.


6/25/2004

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