§ 44-57-1 - Tax credit for principal or secondary residence.
SECTION 44-57-1
§ 44-57-1 Tax credit for principal orsecondary residence. – (a) An eligible person, as defined in § 44-57-3, who shall pay all or partof the cost of an eligible renewable energy system, as defined in §44-57-4, which is installed in a dwelling, as defined in § 44-57-2(13),shall be entitled to a tax credit against the tax liability imposed by chapters11 and 30 of this title. The credit, which shall be nonrefundable, shall becomputed in accordance with § 44-57-5.
(b) The credit shall be claimed in the tax year in which therenewable energy system is placed into service. The credit may be claimed inthe tax year the renewable energy system is purchased if the system is placedin service by April 1 of the following tax year.
(c) Any credit not used in accordance with subsection (b) ofthis section shall not be carried over to any following year or years. The taxcredit shall not reduce the tax in any tax year below the minimum tax where aminimum tax is provided by law.
(d) In the event the eligible person is a partnership, jointventure, or corporation, the credit shall be divided in the same manner asincome.