Louisiana residents hit limit on solar energy tax credits
BATON ROUGE - Louisiana's Department of Revenue says homeowners have applied for more solar energy tax credits this year than the amount of money available to pay claims.
The revenue department said in a news release Act 131 of the 2015 regular legislative session placed yearly limits of $10 million for each of the first two years and a $5 million cap for the third year. It ends Dec. 31, 2017.
The department says homeowners have applied for $39 million worth of credits. It says people who buy solar energy systems from this point forward should not expect to get the credits.
Officials say taxpayers who don't get refunds under the 2016 fiscal year cap will be notified if they're eligible for claims under the caps for the second and third year. Certified letters will notify taxpayers who couldn't get money because it ran out.