Connecticut Senate Bill SB00222

Connecticut 2013 Regular Session

• Introduced: 1/22/13
• Refer: 1/22/13

Caption

An Act Concerning Property Tax Exemptions For Solar Panels Installed On Industrial Property.

Impact

Should SB00222 be enacted, it would lead to significant changes in property taxation related to solar energy installations. Business and industrial property owners could benefit financially, as the elimination of property tax on solar panels would lower operational costs. The expected outcome is an increase in the number of installations, thereby enhancing the state's commitment to renewable energy. This legislative move could serve as a catalyst for growth in the green energy sector and stimulate job creation in related industries.

Summary

SB00222 aims to promote the adoption of solar energy by exempting solar panels and similar installations from property tax when installed on business and industrial properties. The bill is issued in the context of increasing the use of renewable energy sources among corporations and is intended to provide them with a financial incentive to integrate solar technology into their operations. By alleviating the tax burden associated with these installations, the bill advocates for a sustainable approach to business energy consumption and supports environmental goals through increased solar development.

Contention

Although there is a push for the bill from various industry proponents, there remains a degree of contention regarding its potential effects on local governments’ tax revenues. Critics may argue that while the bill supports renewable energy, it could undermine local economies and lead to reduced funding for essential services that depend on property tax revenue. There may also be concerns among stakeholders who advocate for a balanced approach that considers both environmental implications and fiscal health for communities.