MD: Renewables tax credit resurrected


Maryland has enacted a new law that amends the state’s production tax credit for electricity generated by renewables. First, S.B 936 disqualifies renewable energy co-fired with coal. Second, it repeals the total cap of $25 million on initial credit certificates, and sets a new annual limit based on appropriations approved by the legislature. Third, it establishes a Maryland Clean Energy Incentive Tax Credit Reserve Fund, a non-lapsing fund that harbors any excess, unallocated credit funds that remain at the end of a program year. Finally, S.B 936 revives and extends the renewables production tax credit by three years, through December 31, 2018.