HOUSE BILL NO. 3337 103RD GENERAL ASSEMBLY
INTRODUCED BY REPRESENTATIVE KIMBLE.
7189H.01I JOSEPH ENGLER, Chief Clerk
AN ACT To amend chapter 135, RSMo, by adding thereto one new section relating to a renewable energy tax credit.
Be it enacted by the General Assembly of the state of Missouri, as follows:
Section A. Chapter 135, RSMo, is amended by adding thereto one new section, to be 2 known as section 135.1015, to read as follows: 135.1015. 1. As used in this section, the following terms mean: 2 (1) "Qualified residential solar property", all property that qualifies for the 3 federal residential energy property tax credit authorized under Section 25D of the 4 Internal Revenue Code of 1986, as amended, that is installed on a home located in the 5 state to produce electricity from sunlight, including inverters, solar panels, utility 6 meters, and other associated devices; 7 (2) "Qualified residential solar property expenditures", for any qualified 8 taxpayer in a given tax year, the amount spent on qualified residential solar property 9 that also qualifies for the federal residential energy property tax credit authorized 10 under Section 25D of the Internal Revenue Code of 1986, as amended; 11 (3) "Qualified taxpayer", any individual subject to the state income tax imposed 12 under chapter 143 who has qualified residential solar property expenditures that qualify 13 for the residential energy property tax credit under Section 25D of the Internal Revenue 14 Code of 1986, as amended; 15 (4) "Tax credit", a credit against the tax otherwise due under chapter 143, 16 excluding withholding tax imposed under sections 143.191 to 143.265.
EXPLANATION — Matter enclosed in bold-faced brackets [thus] in the above bill is not enacted and is intended to be omitted from the law. Matter in bold-face type in the above bill is proposed language. HB 3337 2
17 2. A qualified taxpayer shall be allowed to claim a tax credit under this section 18 against the taxpayer's state tax liability in the following amounts: 19 (1) For all tax years beginning on or after January 1, 2027, but on or before 20 December 31, 2032, thirty percent of the qualified residential solar property 21 expenditures made by the qualified taxpayer during such year; 22 (2) For all tax years beginning on or after January 1, 2033, but on or before 23 December 31, 2033, thirty-five percent of the qualified residential solar property 24 expenditures made by the qualified taxpayer during such year; and 25 (3) For all tax years beginning on or after January 1, 2034, forty percent of the 26 qualified residential solar property expenditures made by the qualified taxpayer during 27 such year. 28 3. Tax credits issued under the provisions of this section shall be refundable but 29 no tax credit claimed under this section shall be carried forward to any subsequent tax 30 year. 31 4. No tax credit claimed under this section shall be assigned, transferred, sold, or 32 otherwise conveyed. 33 5. The department of revenue shall promulgate all necessary rules and 34 regulations for the administration of this section including, but not limited to, rules 35 relating to the verification of a taxpayer's qualified amount. Any rule or portion of a 36 rule, as that term is defined in section 536.010, that is created under the authority 37 delegated in this section shall become effective only if it complies with and is subject to 38 all of the provisions of chapter 536 and, if applicable, section 536.028. This section and 39 chapter 536 are nonseverable and if any of the powers vested with the general assembly 40 pursuant to chapter 536 to review, to delay the effective date, or to disapprove and annul 41 a rule are subsequently held unconstitutional, then the grant of rulemaking authority 42 and any rule proposed or adopted after August 28, 2026, shall be invalid and void. 43 6. Under section 23.253 of the Missouri sunset act: 44 (1) The provisions of the new program authorized under this section shall sunset 45 December thirty-first six years after the effective date of this section unless reauthorized 46 by an act of the general assembly; and 47 (2) This section shall terminate on September first of the calendar year 48 immediately following the calendar year in which the provisions authorized under this 49 section are sunset. ✔
Statutes affected: