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LDR submits rule for Wind & Solar tax credits to Legislative Fiscal Office

August 08, 2012

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.