Iowa Senate OKs alternative energy tax credits
DES MOINES, Iowa (AP) — The Iowa Senate has approved tax breaks for electric and natural gas fueling stations and those who install solar panels.
The state Senate unanimously approved the legislation Tuesday. It now moves to the House Ways and Means Committee.
One bill would provide $5 million in state dollars to fund a new income tax break for individuals, farmers and business owners who want to install fueling stations for electric or natural gas-powered vehicles.
Bill sponsor Sen. Rob Hogg of Cedar Rapids says the measure encourages farmers to fuel their farm equipment with natural gas.
The other bill extends existing income tax breaks for those who install solar energy systems on buildings. But the measure would allow individuals and corporations to get a separate tax break for each, individual solar system installed.