Lawmakers curtail generous solar tax break
BATON ROUGE- A solar power tax break that has cost the state millions will be sharply curtailed under the budget deal struck by lawmakers and Gov. Bobby Jindal.
Solar industry supporters say solar power was targeted while tax breaks for other energy industries were protected.
But lawmakers trying to close a state budget gap weren't persuaded, saying the tax break that covered up to 50 percent of the cost of a solar system had grown too costly.
The state paid out $63 million in solar tax credits during the last budget year.
Jindal has signed into law a bill that reworked and capped the tax credit, a move estimated to save Louisiana $19 million in the upcoming fiscal year.
The tax break expires entirely in 2017.