New Florida Law Creates Renewable Energy Production Tax Credit

on Saturday, 5 March 2011
New Florida Law Creates Renewable Energy Production Tax Credit
New legislation, which was officially recognized to find time for law lacking Florida Gov. Injure Scott's name, contains plentiful groceries telling to renewable energy, energy efficiency and alternative fuels for motor vehicles.

In the midst of these groceries is a renewable energy production keep on top of the thing channel tax based on 0.01/kWh of renewable energy shaped. The cap is 1 million per establishment and 5 million for state money-spinning rendezvous 2012-2013, which is better to 10 million for 2013-2014 lay down 2016-2017, with groceries for prorating credits if claims outshine the annual report cap.

The legislation as well institutes a renewable energy technologies investment tax keep on top of the thing channel tax based on investment in resources to be used in production, storage and transport of renewable fuels. The cap is 1 million per establishment and 10 million make per state money-spinning rendezvous. The setting down of "renewable fuel" includes fuels other than ethanol, such as biobutanol.

The law agreed sturdy by a 38-2 speech in the state Executive committee and a 113-1 speech in the state Lower house. The groceries obtain corollary July 1.

SourcePost from CleanTechLaw.org: www.cleantechlaw.org


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