1.601 -Renewable Energy Source Credit

Item	Description	FY2009	FY2010	FY2011
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. 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	1.3	1.3	1.3

Key:

ORIGIN
IRC	Federal 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.