Mar 31 2008
Monday, March 30, 2008: The LCI subcommittee adopted several amendments that do the following:
Allows for local government to offer tax incentives to those that voluntarily install sprinkler systems. The property tax credit may be as high as 25%. State government will match this local tax credit dollar for dollar. Essentially, the entity installing the sprinkler system could possibly get as much as 1/2 of the costs refunded through tax credits.
Allows for tap fees and other related utility fees to be charged. The fees charged by utilities will have oversight by the Public Service Commission. Until Monday, the bill deleted the ability of utilities to charge maintenance fees and limited tap fees not to exceed ordinary tap fees. This amendment gives utilities more latitude to recover costs associated with the extra expense of providing the necessary volume needed by sprinkler systems, yet calls for checks and balances.