SB47

SB47 Sponsers- Dallen, Senator for Idaho. Ideaology- Libertarian DMcGimpsey, Senator for New Mexico. Ideaology-Libertarian Bspinelli, Senator for Deleware. Idealogy-Libertarian

 **Category**- Environment and energy
 * Purpose**- The purpose of this bill is to encourage people to invest in renewable energy systems to help lessen the amount of pollution and emissions released into our environment.
 * Eligibility**- These credits are open to any citizen or home owner who pays taxes, in addition to any business that is willing to invest in these systems.
 * Terms and Benefits**- The general idea of this bill is to provide people who invest in renewable resource systems with a tax credit. With this bill we are trying to encourage people to invest in these systems, such as solar panels and residential windmills. To help encourage the use of these systems our bill will allow taxpayers to reduce their taxes by the amount of the purchase price, with a cap of $40,000. These systems can range in price between $20,000 and $60,000. Other benefits include helping to grow the economy. As the demand rises for these renewable sources of energy, the amount of jobs will rise because someone has to manufacture these products and that will create jobs. Another advantage to these renewable resources would be that companies will save millions of dollars a year on electric costs, and that means that they can spend the money they save on more important things.


 * Fiscal Impact **-
 * Solar Panels- $20,000 - $35,000 per system
 * Residential windmills- $35,000- $50,000 per windmill

This bill will not require the government to spend much money, but the government budget will have less taxes coming in because of the tax reductions for the home owners and buisness who invest in either solar or wind powered systems.

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