Bill limits the eligibility for claiming the corporate or individual income tax credit for clean energy systems to systems that are placed in service before Jan. 1, 2028.
Repealed Sections
Bill repeals UTA LEG 59-7-6-614.7, Nonrefundable alternative energy development tax credit, UTA LEG 59-10-10-1024, Nonrefundable tax credit for qualifying solar projects.
On Jan. 21, 2025, bill introduced in House; on Feb. 10, 2025, bill was passed in House.
On Feb. 11, 2025, bill delivered to Senate; on Feb. 21, 2025, bill passed in Senate.
On Feb. 24, 2025, Senate amendments concurred in House and sent for enrolling.
Effectiveness
If enacted, bill HB 264 related to tax incentives, becomes effective as of May 7, 2025, and has retrospective operation for a taxable year beginning on or after Jan. 1, 2025.
Mar. 2025 UTA LEG Bill Approval
On Mar. 25, 2025, UTA LEG reported bill approval by governor, effective May 7, 2025.
