(STATEHOUSE) Jan. 29. 2009 - State Rep. Tom Dermody (R-LaPorte) has been added as a co-author of a bill that would create a tax deduction for solar-powered roof vents and attic fans. House Bill 1415 also creates an individual income tax deduction of up to $5,000 for the installation of the vents and fans.
Under the bill, a taxpayer is entitled to a deduction from his adjusted gross income for the year in which the fan or vent is installed on a building owned or leased by the taxpayer.
"Solar-powered roof vents and attic fans are great examples of alternative energy," said Rep. Dermody. "Not only does it help cut down cooling costs, but it also provided an important tax credit that helps Hoosiers in these tough times."
In addition, one of the primary manufacturers of solar-powered roof vents and attic fans is based in Indiana. The company makes these from 70-percent recycled plastic.
The bill provides enhancements and initiatives for Hoosiers to be environmentally friendly, and helps keep jobs in Indiana.
"This bill not only provides alternative energy that is economically friendly," Rep. Dermody said, "but it supports Indiana businesses that provide jobs for Hoosiers in this economic crisis."
Rep. Dermody sits on the House Ways & Means and Small Business and Economic Development committees. For questions or comments regarding this session, Rep. Dermody can be reached at h20@IN.gov, or by phone at 1-800-382-9841.