An Act Exempting Propane Gas Used In Residential Emergency Generators From The Petroleum Products Gross Earnings Tax.
Impact
The enactment of SB00108 would directly affect the applicable sections of the state's tax code by amending existing laws related to the gross earnings tax on petroleum products. This change would specifically allow homeowners using propane gas for their emergency generators to save on taxes, thus making the installation of such generators more appealing and financially accessible. As a result, it could lead to wider adoption of emergency generators, potentially improving public safety during emergencies.
Summary
SB00108 proposes the exemption of propane gas used in residential emergency generators from the petroleum products gross earnings tax. The primary intention behind this bill is to alleviate the financial burden on homeowners who invest in emergency generators during adverse weather conditions or power outages. By removing this tax, the bill aims to encourage more households to purchase and install these safety equipment, enhancing overall energy preparedness and resilience within communities.
Contention
While proponents of SB00108 argue that the bill provides essential support to residents who are increasingly reliant on emergency power solutions, there could be points of contention surrounding the loss of tax revenue for state budgets. Critics may raise concerns about the financial implications of tax exemptions, suggesting that they could impact overall funding for state services. Additionally, discussions might revolve around whether similar tax exemptions should be extended to other forms of energy or if such measures would lead to a broader discussion about alternative energy sources and their viability.