Connecticut Seal

General Assembly

 

Substitute Bill No. 1133

    January Session, 2009

*_____SB01133ET____031909____*

AN ACT CONCERNING INNOVATIVE ENERGY TECHNOLOGIES.

Be it enacted by the Senate and House of Representatives in General Assembly convened:

Section 1. (NEW) (Effective July 1, 2009, and applicable to income years commencing on or after January 1, 2009) (a) As used in this section, "qualified voltage regulation technology" means a voltage regulation technology that (1) reduces energy consumption, (2) improves grid efficiency, (3) raises or lowers voltage dynamically, and (4) is ninety-nine per cent, or more, efficient across at least ninety per cent of the load curve.

(b) There shall be allowed as a credit against the tax imposed on any corporation under chapter 208 of the general statutes an amount equal to the cost of the purchase of a qualified voltage regulation technology by such corporation.

(c) An amount equal to the tax credits provided pursuant to this section shall be transferred from the Conservation and Load Management Fund to the General Fund at the end of each fiscal year.

This act shall take effect as follows and shall amend the following sections:

Section 1

July 1, 2009, and applicable to income years commencing on or after January 1, 2009

New section

Statement of Legislative Commissioners:

The effective date was changed from "applicable to sales on and after January 1, 2009" to "applicable to income years commencing on or after January 1, 2009" to conform with the effective date style of the corporation tax and in subsection (a) the defined term was made singular for consistency with subsection (b), and subsection (b) was rephrased for statutory consistency.

ET

Joint Favorable Subst.-LCO