SB 606 - For all tax years beginning on or after January 1, 2019, this act creates a tax credit for up to fifty percent of the cost of installing or upgrading to an approved emergency generator, as defined in the act. Such tax credit shall be available to intermediate care facilities and skilled nursing facilities which were approved by the Department of Health and Senior Services on or before December 31, 1998. The tax credit is nonrefundable, but may be carried forward to any subsequent taxable year, not to exceed five years.
The tax credit will sunset on December 31, 2022, unless reauthorized by the General Assembly.
This act is identical to SB 116 (2017).