SB 1118: Personal Income Tax Law: Corporation Tax Law: tax credits: backup generators: solar batteries.

The bill allows a tax credit for qualified taxpayers who purchase backup electricity generators or solar batteries for use in their residences or commercial properties. The credit is 50% of the cost of the equipment, with a limit of $5,000 for generators and $7,500 for solar batteries. This provision is only available for taxable years that have been funded in the budget or another statute for administering the credits. The bill also includes additional information requirements for new tax expenditures.