Governor Deval Patrick's Budget Recommendation - House 2 Fiscal Year 2013

Governor's Budget Recommendation FY 2013

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1.601 -Renewable Energy Source Credit


Item DescriptionFY2011 FY2012 FY2013
1.601 Renewable Energy Source Credit
Owners and tenants of residential property located within Massachusetts who are not dependents and who occupy the property as a principal residence are allowed a credit up to $1,000, or an amount equal to 15% of the cost of a renewable energy source. Unused credits may be carried forward for three years.

Comment: This tax credit was originally for up to 35% of the cost of a renewable energy source; for tax years commencing after December 31, 1988 and before January 1, 1991, it was limited to 25%. It is currently limited to 15% with the $1,000 cap.

Origin:  M.G.L. c. 62, S. 6(d)
Estimate:  $1.3
0.7 1.2 1.3

Key:

ORIGIN  
IRCFederal Internal Revenue Code (26 U.S.C.)
U.S.C United States Code
M.G.L. Massachusetts General Laws
Rev. Rul.; C.B. Revenue Ruling; Cumulative Bulletin of the U.S. Treasury
ESTIMATES All estimates are in $ millions.


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