Renewable Energy Use May Cut Taxes

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City Councilman Donovan Dela Cruz has proposed Bill 31, which would provide real property tax exemptions for new or renovated commercial, renewable energy, and recycling facilities for seven years after completion.

Facilities eligible for exemption would be designed to produce renewable energy resources, convert renewable energy resources into electricity or other energy and reprocess recyclable materials such as aluminum or glass into new products.

“We need to be proactive in looking for ways to help stimulate the construction of these types of facilities,“Dela Cruz explained.“It’s important that we do what we can to address the continuing rise in energy prices and growing concerns about global climate change.”

Facilities that have already made such improvements also are eligible. The bill is still in committee and isn’t scheduled for discussion any time soon, however, according to his office.

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