To authorize an income tax credit equal to 10 percent of the purchase and installation cost of windows, doors, insulation, high-efficiency heating and cooling equipment, and any appliances such as dishwashers, clothes washers, and refrigerators meeting the federal “energy star” standards. The maximum tax credit would be $100, $200 for a joint return.   Official Text and Analysis.

With the recommendation that the bill pass.

To replace the previous version of the bill with one that also authorizes a credit equal against the increased cost of the renewable energy electricity mandate contained in Senate Bill 213.

To authorize an income tax credit equal to the increased cost of electricity due to the renewable energy mandate imposed by Senate Bill 213. Also, to authorize an income tax credit equal to 10 percent of the purchase and installation cost of windows, doors, insulation, high-efficiency heating and cooling equipment, and any appliances such as dishwashers, clothes washers, and refrigerators meeting the federal “energy star” standards. The maximum tax credit would be $100, $200 for a joint return.

To replace the previous version of the bill with one that makes the proposed credits temporary, caps them at just 25 percent of the higher electricity costs mandated by Senate Bill 213, and limit eligibility for these credits and the home improvements one on the basis of household income.

To not offer a tax credit for clothes dryers but do offer one for dishwashers.

To clarify the source and provider of the higher electriciity rates against which the proposed tax credits would apply.

To authorize a means-tested, non-refundable and temporary income tax credit to partially offset the increased cost of electricity from the renewable energy mandate imposed by Senate Bill 213. The credit would end in 2012. Also, to authorize an income tax credit equal to 10 percent of the purchase and installation cost of energy-saving home improvements. The maximum tax credit would be $75, $150 for a joint return. Only households with incomes less than $37,500 (single filer) or $75,000 (joint filer) would be eligible, and double that for the increased electricity cost credit.

To concur with the House-passed version of the bill, which makes the proposed tax credit against the increased cost of electricity from the renewable energy mandate imposed by Senate Bill 213 partial, means-tested and temporary.