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BATON ROUGE - The Louisiana Department of Revenue (LDR) submitted today to the Legislative Fiscal Office a proposed rule to provide greater clarification and guidance on the costs that qualify for the state’s Wind & Solar Energy Systems tax credit. Upon receiving a fiscal impact statement on the proposed rule from the LFO, the department will submit a notice of intent to the Louisiana Register for publication on August 20, 2012.
LDR is working with stakeholders to develop a rule to address the following issues:
• Clarifying the meaning of the term “energy system.”• Clarifying the definitions of residential sites where energy systems are installed• Clarifying the items eligible for reimbursement• Ensuring a credit cannot be claimed by both homeowner and installer on the same installation• Clarifying the costs that can be used to calculate the credit• Requiring itemized lists of equipment costs and installation costs
“From the day I became acting Secretary, one of my top priorities was to ensure that we are using all of our resources responsibly, and this review is a part of that process,” said acting Secretary of Revenue Jane Smith.
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