Texas House Bill HB1140

Texas 2009 - 81st Regular

Caption

Relating to a franchise tax credit for the purchase and installation of solar energy devices connected to an electric transmission or distribution system.

Impact

If enacted, HB 1140 would modify existing tax laws to include specific provisions related to solar energy. This change could lead to an increase in solar installations across the state, contributing to broader environmental goals and sustainability efforts. The bill is intended not only to support the economic viability of renewable energy projects but also to help reduce dependency on non-renewable energy sources. The expected growth in solar energy adoption could propel job creation in the renewable sector and generate additional tax revenues from increased solar businesses and installations.

Summary

House Bill 1140 aims to establish a franchise tax credit for individuals and businesses who purchase and install solar energy devices connected to an electric transmission or distribution system. This initiative reflects a growing interest in renewable energy solutions and seeks to encourage the adoption of solar energy technologies. By offering tax incentives, the bill intends to make solar installations more financially viable for a broader range of people and organizations, potentially increasing the state's overall capacity for solar energy generation.

Contention

Discussions around HB 1140 may center on its impact on state revenue and the efficacy of tax credits as a means to incentivize renewable energy usage. Supporters argue that the economic benefits and environmental advantages of increased solar energy utilization justify the costs associated with tax credits. Conversely, opponents may raise concerns about the potential loss of tax revenue for the state and question whether the proposed tax credits will achieve their intended outcomes in increasing solar adoption. The debate may also touch on the feasibility and technical requirements of the solar energy systems that would qualify for the tax credits.