REPRESENTATIVE DRENNER PROPOSES TAX CREDIT
FOR ENERGY EFFICIENT APPLIANCE PURHCASES

ATLANTA—Georgia State Representative Karla Drenner (D-DeKalb) today introduced legislation that would give Georgians a tax credit beginning in 2008 for energy efficient appliances purchased for their personal residences.

“I believe it is important to encourage our citizens to become good stewards of our natural resources – both energy and water,” Drenner said.  “We entice citizens to purchase hybrid vehicles by offering tax credits and it seems only logical to me that we would also use tax credits to entice them to purchase energy efficient appliances for their homes.”

The measure, pre-filed today, would go into effect for the taxable year beginning January 1, 2008, and would allow for tax credit of 25% of the purchase price of qualified premium energy efficient appliances.  The measure specifically stipulates the tax credit may not exceed the taxpayer’s income tax liability.  Any unused tax credit can be carried forward and applied to the taxpayer’s next three succeeding years’ tax liability.  The bill also prohibits the tax credit from applying to any previous years’ tax liability.

Co-sponsors on the legislation include Representatives Stephanie Benfield (D-Atlanta), Michele Henson (D-Stone Mountain), and Brian Thomas (D-Lilburn).

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