To amend the Internal Revenue Code of 1986 to deny the energy credit to property located on prime or unique farmland, as defined by the Secretary of Agriculture in part 657 of title 7, Code of Federal Regulations, if such property is used for generating solar energy.
About This Bill
Committee
Latest Action · June 27, 2023
Referred to the House Committee on Ways and Means.
The PANELS Act would prohibit solar energy projects from receiving federal tax credits if they are built on prime or unique farmland as defined by the U.S. Department of Agriculture. Specifically, the legislation amends the Internal Revenue Code to exclude solar properties located on these protected agricultural lands from eligibility for the energy investment credit, the clean electricity production credit, and other related tax incentives. The bill affects solar developers and companies that might otherwise claim these tax credits to offset the costs of building solar installations. The restrictions would take effect for any solar projects placed into service after the bill becomes law. By tying tax credit eligibility to farmland protection, the legislation aims to encourage solar development on non-agricultural land rather than on productive farming areas.
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