| 1 | 1 | | |
|---|
| 2 | 2 | | |
|---|
| 3 | 3 | | EXPLANATION: CAPITALS INDICATE MAT TER ADDED TO EXISTING LA W. |
|---|
| 4 | 4 | | [Brackets] indicate matter deleted from existing law. |
|---|
| 5 | 5 | | *hb1214* |
|---|
| 6 | 6 | | |
|---|
| 7 | 7 | | HOUSE BILL 1214 |
|---|
| 8 | 8 | | Q3, M3 4lr2828 |
|---|
| 9 | 9 | | CF SB 970 |
|---|
| 10 | 10 | | By: Delegate Fraser–Hidalgo |
|---|
| 11 | 11 | | Introduced and read first time: February 8, 2024 |
|---|
| 12 | 12 | | Assigned to: Economic Matters |
|---|
| 13 | 13 | | |
|---|
| 14 | 14 | | A BILL ENTITLED |
|---|
| 15 | 15 | | |
|---|
| 16 | 16 | | AN ACT concerning 1 |
|---|
| 17 | 17 | | |
|---|
| 18 | 18 | | Energy Storage Systems – Income Tax Credit and Grant Program – Sunset 2 |
|---|
| 19 | 19 | | Extension 3 |
|---|
| 20 | 20 | | |
|---|
| 21 | 21 | | FOR the purpose of extending the termination date for a credit against the State income 4 |
|---|
| 22 | 22 | | tax for the installation of certain energy storage systems; delaying the establishment 5 |
|---|
| 23 | 23 | | of the Energy Storage System Grant Program in the Maryland Energy 6 |
|---|
| 24 | 24 | | Administration; and generally relating to an income tax credit and grant program 7 |
|---|
| 25 | 25 | | for energy storage systems. 8 |
|---|
| 26 | 26 | | |
|---|
| 27 | 27 | | BY repealing and reenacting, with amendments, 9 |
|---|
| 28 | 28 | | Article – Tax – General 10 |
|---|
| 29 | 29 | | Section 10–719(g) 11 |
|---|
| 30 | 30 | | Annotated Code of Maryland 12 |
|---|
| 31 | 31 | | (2022 Replacement Volume and 2023 Supplement) 13 |
|---|
| 32 | 32 | | |
|---|
| 33 | 33 | | BY repealing and reenacting, with amendments, 14 |
|---|
| 34 | 34 | | Article – State Government 15 |
|---|
| 35 | 35 | | Section 9–2012(h) 16 |
|---|
| 36 | 36 | | Annotated Code of Maryland 17 |
|---|
| 37 | 37 | | (2021 Replacement Volume and 2023 Supplement) 18 |
|---|
| 38 | 38 | | (As enacted by Chapter 246 of the Acts of the General Assembly of 2022) 19 |
|---|
| 39 | 39 | | |
|---|
| 40 | 40 | | BY repealing and reenacting, with amendments, 20 |
|---|
| 41 | 41 | | Chapter 246 of the Acts of the General Assembly of 2022 21 |
|---|
| 42 | 42 | | Section 4, 5, and 6 22 |
|---|
| 43 | 43 | | |
|---|
| 44 | 44 | | SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF MARYLAND, 23 |
|---|
| 45 | 45 | | That the Laws of Maryland read as follows: 24 |
|---|
| 46 | 46 | | |
|---|
| 47 | 47 | | Article – Tax – General 25 |
|---|
| 48 | 48 | | 2 HOUSE BILL 1214 |
|---|
| 49 | 49 | | |
|---|
| 50 | 50 | | |
|---|
| 51 | 51 | | 10–719. 1 |
|---|
| 52 | 52 | | |
|---|
| 53 | 53 | | (g) The credit under this section may not be claimed for an energy storage system 2 |
|---|
| 54 | 54 | | installed before January 1, 2018, or after December 31, [2024] 2026. 3 |
|---|
| 55 | 55 | | |
|---|
| 56 | 56 | | Article – State Government 4 |
|---|
| 57 | 57 | | |
|---|
| 58 | 58 | | 9–2012. 5 |
|---|
| 59 | 59 | | |
|---|
| 60 | 60 | | (h) A grant under this section may not be awarded for an energy storage system 6 |
|---|
| 61 | 61 | | installed before January 1, [2025] 2027. 7 |
|---|
| 62 | 62 | | |
|---|
| 63 | 63 | | Chapter 246 of the Acts of 2022 8 |
|---|
| 64 | 64 | | |
|---|
| 65 | 65 | | SECTION 4. AND BE IT FURTHER ENACTED, That: 9 |
|---|
| 66 | 66 | | |
|---|
| 67 | 67 | | (a) Section 1 of this Act shall be applicable to taxable years beginning after 10 |
|---|
| 68 | 68 | | December 31, 2021, but before January 1, [2025] 2027. 11 |
|---|
| 69 | 69 | | |
|---|
| 70 | 70 | | (b) Section 3 of this Act shall be applicable to taxable years beginning after 12 |
|---|
| 71 | 71 | | December 31, [2024] 2026. 13 |
|---|
| 72 | 72 | | |
|---|
| 73 | 73 | | SECTION 5. AND BE IT FURTHER ENACTED, That Section 2 of this Act shall take 14 |
|---|
| 74 | 74 | | effect July 1, [2024] 2026. 15 |
|---|
| 75 | 75 | | |
|---|
| 76 | 76 | | SECTION 6. AND BE IT FURTHER ENACTED, That Se ction 3 of this Act shall take 16 |
|---|
| 77 | 77 | | effect July 1, [2025] 2027. 17 |
|---|
| 78 | 78 | | |
|---|
| 79 | 79 | | SECTION 2. AND BE IT FURTHER ENACTED, That this Act shall take effect June 18 |
|---|
| 80 | 80 | | 1, 2024. 19 |
|---|