LC
25 5020
A
BILL TO BE ENTITLED
AN ACT
AN ACT
To
amend Article 2 of Chapter 7 of Title 48 of the Official Code of Georgia
Annotated, relating to imposition, rate, and computation of income taxes, so as
to provide that an individual taxpayer shall be entitled to an income tax credit
for the purchase of a qualified premium energy efficient appliance for use in
the taxpayer´s residence; to provide that the Environmental Protection
Division of the Department of Natural Resources develop standards for and
certify qualified premium energy efficient appliances; to provide for the amount
of such credits and their application; to provide for related matters; to repeal
conflicting laws; and for other purposes.
BE
IT ENACTED BY THE GENERAL ASSEMBLY OF GEORGIA:
SECTION
1.
Article
2 of Chapter 7 of Title 48 of the Official Code of Georgia Annotated, relating
to imposition, rate, and computation of income taxes, is amended by adding a new
Code section to read as follows:
"48-7-29.13.
(a)
For taxable years beginning on or after January 1, 2008, an individual taxpayer
shall be entitled to an income tax credit for the purchase during the taxable
year of a qualified premium energy efficient appliance for use in the
taxpayer´s residence, as provided in this Code section.
(b)
The Environmental Protection Division of the Department of Natural Resources
shall certify qualified premium energy efficient appliances for purposes of this
Code section. The division shall establish energy efficiency standards for
premium qualified appliances substantially in conformity with the following
specifications:
(1)
Clothes washer efficiency performance shall be determined using the United
States Department of Energy Appendix JI test procedure for residential clothes
washers, and in order to qualify:
(A)
A clothes washer with a tub volume greater than 2.0 cubic feet shall have a
minimum Modified Energy Factor (MEF) of 1.40 and a maximum Water Factor (WF) of
9.50 gallons/cubic foot/cycle; and
(B)
A clothes washer with a tub of 2.0 cubic feet or less shall have a minimum
Modified Energy Factor (MEF) of 1.40 and a maximum Water Factor (WF) of 10.25
gallons/cubic foot/cycle;
(2)
Refrigerator/freezers shall have at least 15 percent lower energy consumption
than that allowed by the July 1, 2001, United States Department of Energy
standard for refrigerator/freezers;
(3)
Freezers shall have at least 15 percent lower energy consumption than that
allowed by the July 1, 2001, United States Department of Energy standard for
freezers;
(4)
Dishwashers shall have an Energy Factor of 0.58 cycles/kWh or better;
and
(5)
Water heater efficiency requirements shall be based on the Energy Factor
established by the United States Department of Energy, as derived from the USDOE
Appendix E test procedure for residential water heating equipment
and:
(A)
Electric units shall have an energy factor of 1.0 or greater; and
(B)
Natural gas, propane, or oil fired units shall have an Energy Factor of 0.70 or
greater.
(c)
The amount of the credit allowed by this Code section shall be 25 percent of the
purchase price of the qualified premium energy efficient appliance.
(d)
In no event shall the total amount of the tax credit under this Code section for
a taxable year exceed the taxpayer´s income tax liability. Any unused tax
credit shall be allowed to be carried forward to apply to the taxpayer´s
next three succeeding years´ tax liability. No such tax credit shall be
allowed the taxpayer against prior years´ tax liability."
SECTION
2.
All
laws and parts of laws in conflict with this Act are repealed.