Wednesday, March 05, 2008
Energy Bill Passes Kentucky House.
An energy bill that would provide tax credits to Kentuckians who improve the energy efficiency of their homes or businesses was passed by the House Appropriations and Revenue Committee.
House Bill 2, sponsored by House Majority Floor Leader Rep. Rocky Adkins, would offer limited nonrefundable tax credits for energy improvements including, but not limited to, insulation upgrades, solar and wind systems, energy efficient lighting or HVAC systems and purchase or construction of an "Energy Star" (federal Energy Star program) dwelling. Credits would total up to $500 per taxpayer for residential projects, up to $1,000 per taxpayer on commercial and multi-family rental property projects (for some upgrades), $800 per taxpayer for purchase or construction of an Energy Star home and $400 for purchase of an Energy Star manufactured home.
The credits would only be offered between 2009 and 2015, said Adkins, D-Sandy Hook.
Other provisions in HB 2 would increase construction of energy efficient state buildings, assess potential energy savings in public school buildings and promote private investment in hydroelectric power at Kentucky River dams. The bill now goes to the full House for its consideration.
Adkins said the legislation will enhance energy policy changes made by state lawmakers last year with the passage of HB 1.
"You know, I am a strong believer that energy independence is an achievable goal. But a big part of us being able to more forward in Kentucky is not as much about the amount of energy we consume, but how much energy we can conserve," said Adkins. "I believe that we have laid a good solid foundation to build on with HB 1, but (HB 2) really helps us to grow that footprint we need for solid energy policy."
House Bill 2, sponsored by House Majority Floor Leader Rep. Rocky Adkins, would offer limited nonrefundable tax credits for energy improvements including, but not limited to, insulation upgrades, solar and wind systems, energy efficient lighting or HVAC systems and purchase or construction of an "Energy Star" (federal Energy Star program) dwelling. Credits would total up to $500 per taxpayer for residential projects, up to $1,000 per taxpayer on commercial and multi-family rental property projects (for some upgrades), $800 per taxpayer for purchase or construction of an Energy Star home and $400 for purchase of an Energy Star manufactured home.
The credits would only be offered between 2009 and 2015, said Adkins, D-Sandy Hook.
Other provisions in HB 2 would increase construction of energy efficient state buildings, assess potential energy savings in public school buildings and promote private investment in hydroelectric power at Kentucky River dams. The bill now goes to the full House for its consideration.
Adkins said the legislation will enhance energy policy changes made by state lawmakers last year with the passage of HB 1.
"You know, I am a strong believer that energy independence is an achievable goal. But a big part of us being able to more forward in Kentucky is not as much about the amount of energy we consume, but how much energy we can conserve," said Adkins. "I believe that we have laid a good solid foundation to build on with HB 1, but (HB 2) really helps us to grow that footprint we need for solid energy policy."
# posted by Joe Kinzer @ 4:51 PM 
