CO HB1332

Creates a one-time refundable income tax credit equal to the lesser of 30% of total cost or $25,000 for qualified taxpayers who purchase and install distributed energy resource systems using hydroelectric or wind power for income tax years 2016-2018.

Limits eligibility to resident individuals and pass-through entities that are end-use customers of cooperative electric associations or municipal electric utilities and generate electricity on their side of the meter.

Colorado Energy Office issues credit certificates up to $250,000 per tax year, with authority to issue up to $750,000 total across all eligible years using unused annual allocations.

Requires taxpayers to attach credit certificate to tax return to claim the credit; excess credits above tax liability are refunded and cannot be carried forward.

Section automatically repeals December 31, 2021; requires Colorado Energy Office to submit implementation report by January 5, 2018 to legislative committees detailing program quality, geographic distribution, equipment types, and any implementation issues.