1983-047-Recognizing The Importance Of The California Solar Energy Tax Credit In California's Economic Recovery, And Calling For The Preservation And Continuation Of The Solar Energy Tax CreditRESOLUTION NO. 1983 -47
A RESOLUTION OF THE TOWN COUNCIL
OF THE TOWN OF LOS GATOS RECOGNIZING
THE IMPORTANCE OF THE CALIFORNIA SOLAR
ENERGY TAX CREDIT IN CALIFORNIA'S
ECONOMIC RECOVERY, AND CALLING FOR THE
PRESERVATION AND CONTINUATION OF THE
SOLAR ENERGY TAX CREDIT.
WHEREAS, the California solar energy tax credit has directly contributed to
the development of a billion dollar solar industry that provides
employment to 20,000 Californians in over 7,000 businesses; and
WHEREAS, recent federal studies indicate solar tax credits generate more
tax revenues than they cost the Treasury; and
WHEREAS, two dollars and fifty cents of federal credits are used for every
dollar of State credit; and
WHEREAS, the California solar tax credit has enabled thousands of Californians
to reduce their home utility bills through the use of solar energy
and wind technologies; and
WHEREAS, the solar energy tax credit allows solar energy and wind technologies
to compete fairly in an energy market dominated by heavily subsidized
oil and natural gas; and
WHEREAS, the solar energy industry has helped generate local employment, and
tax revenues within the County of Santa Clara during this time of
severe economic recession; and
WHEREAS, the budget currently proposed by the State of California for the
1983 -84 fiscal year contemplates the retroactive elimination of the
California solar energy tax credit as of January 1, 1983; and
WHEREAS, the California solar energy tax credit is scheduled to expire on
December 31, 1983; and
WHEREAS, the current uncertainty surrounding the future availability of the
tax credit has already stalled millions of dollars of private job -
producing investments and threatens to cause relocation of large
portions of the solar industry outside of California;
NOW, THEREFORE, BE IT RESOLVED by the Town Council of the Town of Los Gatos
that the Governor and the Legislature are hereby urged to take
immediate action to maintain and extend the California solar energy
tax credit.
PASSED AND ADOPTED BY THE TOWN COUNCIL OF THE TOWN OF LOS GATOS at a
regular meeting held this 7th day of March, 1983, by the following vote:
AYES: COUNCIL MEMBERS Terrence J. Daily,
ATTEST:
CLERK F THE TOWN OF 0 (1i0S
Thomas J. Ferrite, Mald J.
Rasmussen and Mayor Brent N. Ventura
NOES: COUNCIL MEMBERS None
ABSENT: COUNCIL MEMBERS Joanne Benjamin
ABSTAIN: COUNCIL MEMBERS None
SIGNED:
MAYUR OF E TOW9 OF LOS GATOS
-2-