Article 3B Tax Credits

  •  Provides tax credits related to renewable energy and waste reduction.
  • Renewable Energy Tax Credits:
    • 35% of cost of equipment and design, construction cost and installation for solar, wind, hydro and biomass applications up to $2,500,000.
    • 25% of expenditures for construction and/or conversion of commercial facility for the manufacture of renewable energy property or major component subassembly for a solar array or wind turbine.
  • Renewable Fuels Tax Credits:
    • Biodiesel production of at least 100,000 gallons per year is credited for the per-gallon excise tax paid by the producer (credit does not apply to the diesel portion of blends and may not exceed $500,000).
    • Available tax credit for the production of biodiesel, 100% ethanol or ethanol blends of at least 70% equal to 25% of the cost of constructing and equipping the facility.
    • Available tax credit for establishing three or more commercial facilities for processing renewable fuels with an investment of at least $400 million equal to 35% of the cost of constructing and equipping the facilities.
    • Available tax credit for qualified fueling facilities that dispense biodiesel, 100% ethanol or ethanol blends of at least 70% equal to 15% of the cost of construction and installation of the facility, including pumps, storage tanks and related equipment that is directly and exclusively used for dispensing or storing fuel.
  • Recycling Facility Tax Credits: 
    • A tax credit equal to 50% of the amount payable for the purchase or lease of machinery and equipment for a major recycling facility with at least $300 million in investment and 250 new, full-time jobs.

Article 3B Tax Credits:

 

·         Provides tax credits related to renewable energy and waste reduction.

 

·         Renewable Energy Tax Credits:

o   35% of cost of equipment and design, construction cost and installation for solar, wind, hydro and biomass applications up to $2,500,000.

o   25% of expenditures for construction and/or conversion of commercial facility for the manufacture of renewable energy property or major component subassembly for a solar array or wind turbine.

 

·         Renewable Fuels Tax Credits:

o   Biodiesel production of at least 100,000 gallons per year is credited for the per-gallon excise tax paid by the producer (credit does not apply to the diesel portion of blends and may not exceed $500,000).

o   Available tax credit for the production of biodiesel, 100% ethanol or ethanol blends of at least 70% equal to 25% of the cost of constructing and equipping the facility.

o   Available tax credit for establishing three or more commercial facilities for processing renewable fuels with an investment of at least $400 million equal to 35% of the cost of constructing and equipping the facilities.

o   Available tax credit for qualified fueling facilities that dispense biodiesel, 100% ethanol or ethanol blends of at least 70% equal to 15% of the cost of construction and installation of the facility, including pumps, storage tanks and related equipment that is directly and exclusively used for dispensing or storing fuel.

 

·         Recycling Facility Tax Credits:

Article 3B Tax Credits:

 

  • Provides tax credits related to renewable energy and waste reduction.

 ·         Renewable Energy Tax Credits:

  • 35% of cost of equipment and design, construction cost and installation for solar, wind, hydro and biomass applications up to $2,500,000.
  • 25% of expenditures for construction and/or conversion of commercial facility for the manufacture of renewable energy property or major component subassembly for a solar array or wind turbine.

 ·         Renewable Fuels Tax Credits:

  • Biodiesel production of at least 100,000 gallons per year is credited for the per-gallon excise tax paid by the producer (credit does not apply to the diesel portion of blends and may not exceed $500,000).
  • Available tax credit for the production of biodiesel, 100% ethanol or ethanol blends of at least 70% equal to 25% of the cost of constructing and equipping the facility.
  • Available tax credit for establishing three or more commercial facilities for processing renewable fuels with an investment of at least $400 million equal to 35% of the cost of constructing and equipping the facilities.
  • Available tax credit for qualified fueling facilities that dispense biodiesel, 100% ethanol or ethanol blends of at least 70% equal to 15% of the cost of construction and installation of the facility, including pumps, storage tanks and related equipment that is directly and exclusively used for dispensing or storing fuel.

 ·         Recycling Facility Tax Credits:

  • A tax credit equal to 50% of the amount payable for the purchase or lease of machinery and equipment for a major recycling facility with at least $300 million in investment and 250 new, full-time jobs.

o   A tax credit equal to 50% of the amount payable for the purchase or lease of machinery and equipment for a major recycling facility with at least $300 million in investment and 250 new, full-time jobs.