Bill
A 986
Bill A 986 exempts sales tax on geothermal heat pump systems, making them more affordable for homeowners and businesses, promoting renewable energy and reducing emissions.
Bill Number: A 986
Title: Provides an exemption for the sale and installation of residential and commercial geothermal heat pump systems equipment
Status: Referred to Ways and Means
Introduced: January 08, 2025
Classification: Bill
The primary purpose of Bill A 986 is to promote the adoption of geothermal heat pump systems by providing a sales and installation exemption for both residential and commercial applications. This initiative aims to encourage the use of renewable energy sources, reduce reliance on fossil fuels, and lower energy costs for consumers.
Exemption from Sales Tax: The bill proposes to exempt the sale and installation of geothermal heat pump systems from state sales tax. This exemption is intended to lower the upfront costs for consumers and businesses considering the installation of these energy-efficient systems.
Scope of Equipment Covered: The exemption will apply to all equipment necessary for the installation of geothermal heat pump systems, including but not limited to:
Beneficiaries: The bill is expected to benefit homeowners and businesses looking to invest in geothermal heating and cooling systems. By reducing the financial burden associated with the initial investment, the bill aims to make these systems more accessible.
Environmental Benefits: The promotion of geothermal systems is aligned with broader environmental goals, including reducing greenhouse gas emissions and enhancing energy efficiency. This could contribute to state and national efforts to combat climate change.
Economic Considerations: The bill may stimulate job creation in the renewable energy sector, particularly in the installation and maintenance of geothermal systems.
Bill A 986 is part of a broader legislative context, with several related bills from prior sessions, including:
- S 6250
- S 876
- S 6310
- A 8147
- A 1575
- S 3353 (companion bill)
These related bills may provide additional context or complementary measures aimed at promoting renewable energy solutions.
Bill A 986 represents a significant step towards enhancing the adoption of geothermal heat pump systems in both residential and commercial sectors. By providing a sales and installation exemption, the bill seeks to lower barriers to entry for consumers and businesses, thereby promoting sustainable energy practices and contributing to environmental goals. Further developments will depend on the committee's review and subsequent legislative actions.
Compiled from official sources — confirm details with the bill’s official record.
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