Arizona Senate Panel Approves Solar Incentives
Solar Industry
S.B.1403, which would provide tax breaks to new factories thatmanufacture renewable energy equipment, has been approved by a vote of12-6 by an Arizona State Senate committee.
The Arizona Republicreports that the structure of the tax incentives was modeled afterthose in nearby states that have hosted similar manufacturing plants.Arizona’s legislation would offer factories a 10% income tax credit oncapital investments, as well as a possible 80% property tax reductionif the company meets employee wage and benefit criteria.
The bill will be voted in the Arizona House and Senate.
