EXPLANATION: CAPITALS INDICATE MAT TER ADDED TO EXISTIN G LAW.
[Brackets] indicate matter deleted from existing law.
*sb0970*
SENATE BILL 970
Q3, M3 4lr2829
CF 4lr2828
By: Senator Guzzone
Introduced and read first time: February 2, 2024
Assigned to: Budget and Taxation
A BILL ENTITLED
AN ACT concerning 1
Energy Storage Systems – Income Tax Credit and Grant Program – Sunset 2
Extension 3
FOR the purpose of extending the termination date for a credit against the State income 4
tax for the installation of certain energy storage systems; delaying the establishment 5
of the Energy Storage System Grant Program in the Maryland Energy 6
Administration; and generally relating to an income tax credit and grant program 7
for energy storage systems. 8
BY repealing and reenacting, with amendments, 9
Article – Tax – General 10
Section 10–719(g) 11
Annotated Code of Maryland 12
(2022 Replacement Volume and 2023 Supplement) 13
BY repealing and reenacting, with amendments, 14
Article – State Government 15
Section 9–2012(h) 16
Annotated Code of Maryland 17
(2021 Replacement Volume and 2023 Supplement) 18
(As enacted by Chapter 246 of the Acts of the General Assembly of 2022) 19
BY repealing and reenacting, with amendments, 20
Chapter 246 of the Acts of the General Assembly of 2022 21
Section 4, 5, and 6 22
SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF MARYLAND, 23
That the Laws of Maryland read as follows: 24
Article – Tax – General 25
10–719. 26 2 SENATE BILL 970
(g) The credit under this section may not be claimed for an energy storage system 1
installed before January 1, 2018, or after December 31, [2024] 2026. 2
Article – State Government 3
9–2012. 4
(h) A grant under this section may not be awarded for an energy storage system 5
installed before January 1, [2025] 2027. 6
Chapter 246 of the Acts of 2022 7
SECTION 4. AND BE IT FURTHER ENACTED, That: 8
(a) Section 1 of this Act shall be applicable to taxable years beginning after 9
December 31, 2021, but before January 1, [2025] 2027. 10
(b) Section 3 of this Act shall be applicable to taxable years beginning after 11
December 31, [2024] 2026. 12
SECTION 5. AND BE IT FURTHER ENACTED, That Section 2 of this Act shall take 13
effect July 1, [2024] 2026. 14
SECTION 6. AND BE IT FURTHER ENACTED, That Section 3 of this Act shall take 15
effect July 1, [2025] 2027. 16
SECTION 2. AND BE IT FURTHER ENACTED, That this Act shall take effect June 17
1, 2024. 18