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Senate Co-Sponsorship Memoranda
Senate of Pennsylvania
Session of 2015 - 2016
Regular Session
MEMORANDUM
| Posted: | December 9, 2014 04:19 PM |
|---|---|
| From: | Senator Matt Smith |
| To: | All Senate members |
| Subject: | Energy Star Rated Product Manufacturing Tax Credit |
| In the near future, I plan to re-introduce SB 238 of the 2013-2014 legislative session. This legislation would amend the Tax Reform Code to establish an Energy Star Rated Product Manufacturing Tax Credit. My legislation would enable the manufacturers of Energy Star rated products to apply for a tax credit on the capital, operation, and maintenance costs associated with the manufacture of Energy Star products, not to exceed 20 percent of those costs. The total cost of the tax credit will be capped at $10 million per year. The proposal defines Energy Star rated products as those products that meet the certifications of the U.S. Department of Energy and are used as part of a plan to reduce total annual energy and power costs. Energy Star rated products are valuable to the continued effort of energy conservation by reducing energy consumption and fossil fuel emissions across the nation. Furthermore, homeowners and businesses that have purchased Energy Star products have reported significant savings annually on total energy costs. By offering the Energy Star Rated Product Manufacturing Tax Credit, I believe we will promote and stimulate the manufacture and use of these pivotal energy and cost-saving technologies. Previous co-sponsors include Kasunic, Fontana, Yudichak, Brewster, Washington, Ferlo, Tartaglione, Farnese and Costa. Please join me in co-sponsoring this important legislation. If you have any questions about this legislation, please contact my office at 717-787-5839. |
Introduced as SB240