Governor signs 33 bills, including solar credit phase-out
SALT LAKE CITY —
(AP) Gov. Gary Herbert has signed 33 more bills, including a measure phasing out a tax credit for installing solar panels that legislators said was eating away at money for public schools.
Herbert's office announced Monday that the Republican governor had signed off on a bill that gradually winds down the $2,000 tax credit that homeowners can receive when they install rooftop solar panels. The credits apply to income taxes, which are the main source of funding for education in Utah.
The measure from Republican Rep. Jeremy Peterson limits the credit to $1,600 next year and scales it back every year until it's gone in 2021.
Peterson says the industry has taken off and with more and more residents installing the panels, the state missed out of $20 million in tax revenue last year.