MO HB1243

Allows Missouri individual income tax filers to deduct the cost of qualified fuel cell property or qualified photovoltaic (solar) property installed in their principal residence, effective for tax years beginning January 1, 2011

Fuel cell property must have a nameplate capacity of at least 0.5 kilowatt, electricity-only generation efficiency greater than 30%, and be installed on a dwelling unit in the United States used as the taxpayer's principal residence

Photovoltaic property must use solar energy to generate electricity for a dwelling unit in Missouri used as the taxpayer's residence

Deduction amount equals the lesser of either 50% of purchase price (capped at $1,000 for fuel cell property or $4,000 for photovoltaic property)

Program automatically sunsets December 31 six years after enactment unless reauthorized by the legislature, with a further 12-year sunset if reauthorized; Department of Revenue establishes procedures and may promulgate implementing rules