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Berkeley County approves application for roughly $2.5 million HVAC tax credit
Summary
County officials authorized filing for a federal tax credit tied to prior HVAC/thermal battery upgrades, estimating roughly $2.5 million in potential credits; commissioners backed placing proceeds in a reserve pending IRS review and potential clawbacks.
Berkeley County commissioners on May 14 authorized staff to file for a federal tax credit linked to prior HVAC and thermal‑battery upgrades, and were told the claim could result in roughly $2.5 million returning to the county.
County staff and outside financial advisers (Cox Holiday, referenced by name in the meeting) told commissioners the county spent about $6.5 million on upgrades and that a detailed application with supporting invoices and documentation is required to demonstrate eligibility. A county official summarized the estimate to the commission: "you probably are going to see a $2.5 million check come in the near future." Commissioners approved making the application and giving the president authority to sign.
Why it matters: Returning federal tax credits could materially boost county reserves. Commissioners cautioned that the federal rules include potential "clawback" provisions if administrative interpretations change, so they recommended placing any funds in a reserve account until the IRS finalizes the matter.
County officials said the application is a first step; the IRS review and any administrative appeals remain possible. Commissioners directed staff to reserve any proceeds and to monitor the IRS process closely rather than immediately spending the funds.
Next step: Cox Holiday will file the application on behalf of the county; staff recommended that any funds, if received, be placed into the county’s rainy‑day or reserve fund while the federal review period concludes.
