SJR 10, as amended, Stone. Federal Investment Tax Credit: solar energy.
This measure would respectfully request that the Congress of the United States take immediate action to extend the federal investment tax credit in Sections 48 and 25D of Title 26 of the United States Code.
Fiscal committee: no.
P1 1WHEREAS, The United States has an abundance of solar energy
2resources that are sufficient to supply a significant portion of the
3energy needs of the United States; and
4WHEREAS, Farmers can become more economically resilient
5to the unique and difficult challenges facing farming communities
6through solar power; and
7WHEREAS, Schools and educational institutions, as well as
8other governmental entities and nonprofit entities, can save
P2 1considerable amounts of limited public moneys by investing in
2solar power; and
3WHEREAS, Homeowners, renters, and businesses statewide
4can control for rising energy costs through the investment in solar
5power; and
6WHEREAS, Rural communities can benefit from the
7construction of utility scale solar energy projects; and
8WHEREAS, Allbegin insert ofend insert these markets rely on the federal investment
9tax credit to make solar energy affordable for all who want it; and
10WHEREAS, The solar energy industry employs 54,000
11Californians and is one of the nation’s fastest growing job creators,
12employing 173,807 people nationwide and growing at a rate nearly
1320 times faster than the overall economy, according to The Solar
14Foundation; and
15WHEREAS, The loss of the investment tax credit would lead
16to significant job losses in California and beyond in 2017; and
17WHEREAS, Accelerated development and use of solar energy
18technologies would provide numerous benefits to all citizens of
19California and the United States, including improved national
20security, healthier rural economies, improved air and environmental
21quality, and abundant, reliable, and affordable energy; and
22WHEREAS, The solar industry adds more than $15 billion to
23the United States economy and increased energy production from
24domestic solar energy resources would attract substantial new
25investments in energy infrastructure and create local economic
26growth; and
27WHEREAS, Increased use of solar energy is practical and can
28be cost effective with the help of consistent, long-term supportive
29policies and proper incentives to stimulate markets and
30infrastructure, such as the Investment Tax Credit; and
31WHEREAS, Long-term supportive policies and proper
32incentives at the local, state, and federal levels have brought about
33significant cost reductions within the solar industry in California
34and across the country; and
35WHEREAS, Public policies aimed at enhancing solar energy
36production and accelerating technological improvements will
37further reduce energy costs over time and increase market demand;
38and
39WHEREAS, The federal investment tax credit for solar power,
40contained in Sections 48 and 25D of Title 26 of the United States
P3 1Code, is set to decrease from 30 percent to 10 percent for
2commercial consumers and from 30 percent to 0 percent for
3residential consumers after December 31, 2016; now, therefore,
4be it
5Resolved by the Senate and the Assembly of the State of
6California, jointly, That the Legislature respectfully requests that
7the Congress of the United States take immediate action to extend
8the federal investment tax credit in Sections 48 and 25D of Title
926 of the United States Code; and be it further
10Resolved, That the Secretary of the Senate transmit copies of
11this resolution to the President and Vice President of the United
12States, to the Speaker of the House of Representatives, to the
13Majority Leader of the Senate, and to each Senator and
14Representative from California in the Congress of the United
15States.
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