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Tehama County auditor: $1.4 million federal rebate received for county solar project, loan principal to be reduced
Summary
The county’s auditor-controller reported receiving $1.4 million from the IRS under the Inflation Reduction Act’s extended credit for tax-exempt agencies and said she will use roughly $1.375 million to pay down principal on a $7.5 million Aircon solar and efficiency loan, shortening its term and saving about $500,000 in interest.
Krista Peterson, Tehama County auditor-controller, told the board March 10 that the county received $1,400,000 from the Internal Revenue Service as a tax-exempt entity rebate under the Inflation Reduction Act for the Aircon Solar and Energy Efficiency Project approved in 2022.
The project’s original loan…
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