HB 17 by Rep. Jim Hamilton (D-Bozeman amends the Alternative Energy System Tax Credit to make it refundable, rather than have it carry forward year-to-year. The Alternative Energy System Tax Credit has been successful in Montana with over 900 residents enrolled in the program, with those residents claiming over $500,000 in credits. And those claimed credits have also resulted in $7.2 million in revenue for small businesses throughout the state. Further, the Tax Credit as it exists now only applies to Montanans who meet a certain tax liability, which unfortunately means that lower income residents cannot apply for the Tax Credit. By amending the language of the MCA to make these Tax Credits refundable, those who rely on the Tax Credits have the option to refund their credit for immediate monetary benefits, and the tax liability criteria is eliminated. Therefore, lower income individuals in Montana will be able to enroll in an already successful program to make it even more so.
A hearing was held on Jan. 7 in House Taxation. This bill has been tabled.
Conor Ploeger, firstname.lastname@example.org