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Ch. 295
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2000 LAWS OF MARYLAND
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(I) WHEN INSTALLED IN CONNECTION WITH A STRUCTURE, USES
SOLAR ENERGY FOR THE PURPOSE OF PROVIDING HOT WATER FOR USE WITHIN THE
STRUCTURE; AND
(II) MEETS APPLICABLE PERFORMANCE AND QUALITY STANDARDS
AND CERTIFICATION REQUIREMENTS IN EFFECT AT THE TIME OF ACQUISITION OF
THE PROPERTY, AS SPECIFIED BY THE MARYLAND ENERGY ADMINISTRATION.
(B) AN INDIVIDUAL OR A CORPORATION MAY CLAIM A CREDIT AGAINST THE
STATE INCOME TAX FOR A TAXABLE YEAR AS PROVIDED IN THIS SECTION FOR THE
COSTS OF SOLAR WATER HEATING PROPERTY OR PHOTOVOLTAIC PROPERTY PLACED
IN SERVICE DURING THE TAXABLE YEAR
(C) (1) SUBJECT TO THE LIMITATIONS UNDER PARAGRAPH (2) OF THIS
SUBSECTION, THE CREDIT ALLOWED UNDER THIS SECTION INCLUDES 15% OF THE
TOTAL INSTALLED COST OF PHOTOVOLTAIC PROPERTY OR SOLAR WATER HEATING
PROPERTY.
(2) THE CREDIT ALLOWED UNDER THIS SUBSECTION MAY NOT EXCEED:
(I) $2,000 FOR EACH SYSTEM FOR PHOTOVOLTAIC PROPERTY; AND
(II) $1,000 FOR EACH SYSTEM FOR SOLAR WATER HEATING
PROPERTY.
(D) (1) THE TOTAL AMOUNT OF THE CREDIT ALLOWED UNDER THIS
SECTION FOR ANY TAXABLE YEAR MAY NOT EXCEED THE STATE INCOME TAX FOR
THAT TAXABLE YEAR, CALCULATED BEFORE APPLICATION OF THE CREDITS UNDER
THIS SECTION AND §§ 10-701 AND 10-701.1 OF THIS SUBTITLE, BUT AFTER
APPLICATION OF THE OTHER CREDITS ALLOWABLE UNDER THIS SUBTITLE.
(2) THE UNUSED AMOUNT OF THE CREDIT FOR ANY TAXABLE YEAR MAY
NOT BE CARRIED OVER TO ANY OTHER TAXABLE YEAR
(E) EXCEPT AS OTHERWISE PROVIDED IN THIS TITLE, FOR PURPOSES OF
DETERMINING MARYLAND TAXABLE INCOME, THE BASIS OF PROPERTY WITH
RESPECT TO WHICH THE CREDIT UNDER THIS SECTION IS ALLOWED SHALL BE ITS
BASIS FOR FEDERAL INCOME TAX PURPOSES.
(F) THE CREDIT UNDER THIS SECTION MAY NOT BE CLAIMED FOR PROPERTY
PLACED IN SERVICE:
(1) BEFORE JULY 1, 2000; OR
(2) AFTER DECEMBER 31, 2004.
SECTION 3. AND BE IT FURTHER ENACTED, That the Laws of Maryland
read as follows:
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- 1730 -
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