Gov. Exempts Renewables Taxes

By Published On: June 26, 2014

The governor signed into law legislation allocating more than $870 million of carbon cap-and-trade market revenue and extending the solar energy project property tax exemption. The new laws, SB 862 and SB 871 by the Senate Budget and Fiscal Review Committee, were autographed by Gov. Jerry Brown June 20. SB 862 implements the governor’s and lawmakers 2014-15 allocation of the California Air Resources Board’s carbon market revenue. Under it, $200 million goes to low-carbon transportation projects and $250 million to the high-speed rail project. Another $75 million is for weatherization, and $40 million for joint water and energy efficiency (Current, June 20, 2014). SB 871 was gutted and amended earlier this month to exempt from property taxes photovoltaic, solar thermal, solar hot water heater and other solar energy systems on large and small construction projects.

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