SB2195 Summary

• Requires the Department of Taxation and Department of Business, Economic Development, and Tourism to submit a joint annual report to the legislature on renewable energy tax credits, including data on properties qualifying for credits, total cost to the State, and estimated economic benefits.

• Mandates that business entities installing renewable energy technology eligible for tax credits complete and file an annual survey with DBEDT before June 30 each year, reporting on economic benefits, taxes paid, and employment impacts.

• Directs DBEDT and the Department of Taxation to use survey data to study the effectiveness of renewable energy tax credits and prepare summary statistics for legislative reporting.

• Appropriates unspecified sums from general revenues to both the Department of Taxation and DBEDT for fiscal year 2014-2015 to implement reporting and survey requirements.

• Takes effect July 1, 2017, with the Department of Taxation required to submit proposed legislation amendments by the 2015 regular session.