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Committee tables SB55 after fiscal-impact questions and broad public support for larger solar credit
Summary
After economists flagged a potential $21 million scoring impact and witnesses described job losses and affordability concerns, the House Taxation and Revenue Committee voted 11–1 to table SB55, which would raise the state solar tax credit from 10% to 30% while retaining a $30 million statutory cap.
The House Taxation and Revenue Committee tabled Senate Bill 55 after public testimony and a fiscal-impact discussion about how the state credit is scored.
Jennifer Fabian, an economist with the Legislative Finance Committee, told the committee that the solar tax credit in law has a $30,000,000 cap and that this bill does not change that cap. Fabian said the credit has historically been undersubscribed — roughly $9,000,000 claimed annually — and that scoring the new or expanded credit at the cap can create an apparent $21,000,000 impact in the revenue estimate used for budgeting.
Sponsor Senator Stewart said the bill…
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