OLR Bill Analysis

SB 1133

AN ACT CONCERNING INNOVATIVE ENERGY TECHNOLOGIES.

SUMMARY:

This bill establishes a credit against the corporate business tax for corporations that purchase qualified voltage regulation technologies. The credit equals the cost of the purchase. Under the bill, these are voltage regulation technologies that (1) reduce energy consumption, (2) improve grid efficiency, (3) raise or lower voltage dynamically (over time), and (4) are 99% or more efficient across at least 90% of the load curve. (The load curve describes how electric demand varies over time. )

The bill requires that an amount equal to the tax credits provided be transferred from the Conservation and Load Management Fund to the General Fund at the end of each fiscal year.

EFFECTIVE DATE: July 1, 2009, and applicable to sales on and after January 1, 2009.

COMMITTEE ACTION

Energy and Technology Committee

Joint Favorable

Yea

21

Nay

0

(03/19/2009)