This bill proposes to amend the Code of West Virginia by introducing a new article that eliminates the tax credit for corporations and other entities that install solar, wind, or other renewable energy systems. The bill defines various renewable energy systems, including active solar systems, biomass systems, geothermal systems, hydro energy systems, and wind systems. It also establishes that any corporation or entity operating a renewable energy system must maintain a minimum setback of one mile from residential homes and provide proof of $400 million liability insurance for every 100 acres of the site to cover cleanup and restoration in the event of a disaster.

Additionally, the bill specifies that the State Tax Commissioner will create rules regarding the elimination of the tax credit for corporate entities, stating that no corporate taxpayer may claim a credit for solar energy systems installed after July 1, 2024. However, the tax credit for individual taxpayers with residential renewable energy systems will remain intact. This legislative change aims to restrict corporate benefits while still supporting individual homeowners who invest in renewable energy solutions.

Statutes affected:
Introduced Version: 11-13BB-1, 11-13BB-2, 11-13BB-3