MS HB1569

Authorizes a 10% income tax credit for qualified energy efficiency improvements (insulation, windows, skylights, doors, metal roofs) installed on homestead-exempt dwelling units, with a lifetime cap of $500 and a $200 cap for windows and skylights.

Allows income tax credits for residential energy property expenditures including electric heat pumps, geothermal heat pumps, central air conditioners, water heaters, furnaces, and air circulating fans, with per-item caps ranging from $50 to $300.

Provides a 50% income tax credit for wind or solar energy system installation costs (up to $25,000 per system) at taxpayer residences or apartment complexes, with unused credits carrying forward for five years.

Exempts the added property value from wind or solar energy systems that qualify for the tax credit from ad valorem taxation.

Effective January 1, 2010.