Moolenaar's wind energy tax credit bill OKd in House
Midland Daily News|Stuart Frohm|December 7, 2006
If Moolenaar’s House Bill 4647 becomes law, a taxpayer owning a small wind turbine in Michigan to generate energy could claim a tax credit of 1.5 cents a kilowatt hour generated in a tax year.
If Moolenaar’s House Bill 4647 becomes law, a taxpayer owning a small wind turbine in Michigan to generate energy could claim a tax credit of 1.5 cents a kilowatt hour generated in a tax year.
Rep. John Moolenaar, R-Midland, is pleased that the state House on Wednesday unanimously approved a wind energy tax credit he proposed.
Because it is so late in the year, Moolenaar said, the proposal was scaled back and no longer would apply to 2006.
He called wind energy "an opportunity to build on our strengths in Michigan."
If Moolenaar’s House Bill 4647 becomes law, a taxpayer owning a small wind turbine in Michigan to generate energy could claim a tax credit of 1.5 cents a kilowatt hour generated in a tax year.
In that tax year, those credits for any one taxpayer couldn’t exceed $750,000. And all wind energy credits couldn’t exceed $3 million a calendar year.
The bill says that the credit would apply to the successor to …
... more [truncated due to possible copyright]Rep. John Moolenaar, R-Midland, is pleased that the state House on Wednesday unanimously approved a wind energy tax credit he proposed.
Because it is so late in the year, Moolenaar said, the proposal was scaled back and no longer would apply to 2006.
He called wind energy "an opportunity to build on our strengths in Michigan."
If Moolenaar’s House Bill 4647 becomes law, a taxpayer owning a small wind turbine in Michigan to generate energy could claim a tax credit of 1.5 cents a kilowatt hour generated in a tax year.
In that tax year, those credits for any one taxpayer couldn’t exceed $750,000. And all wind energy credits couldn’t exceed $3 million a calendar year.
The bill says that the credit would apply to the successor to the Single Business Tax.