A tax break passed by lawmakers five years ago to spur investment in solar energy has become a costly deal for the state, siphoning millions of dollars more than expected from Louisiana’s coffers. When lawmakers passed the Wind and Solar Energy Systems Tax Credit in 2007, fiscal analysts said they expected lost state tax income to be less than $500,000 a year. But in the four years that the tax expenditure has been used, the state has shelled out $37 million for it—more than 18 times the maximum estimate, according to data provided to The Associated Press by the Department of Revenue. As questions have been raised, the department is taking steps to put limits on who qualifies for the tax break and what items are eligible for reimbursement.
Cost of La. solar tax credit far exceeds estimates
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