Form N-157a - Information Statement Concerning Credit For Energy Conservation - 1999 Page 2
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1
2Form N-157A
(Rev. 1999)
Page 2
ICE STORAGE SYSTEM
27 Cost of qualified ice storage systems installed and placed in service. .........................................
27
28 Multiply line 27 by 50% and enter result........................................................................................................................................ 28
29 Amount of any federal energy tax credit for ice storage systems claimed on line 27. (see instructions) ...................................... 29
30 Subtract line 29 from line 28 and enter result (but not less than zero) .......................................................................................... 30
TOTAL AND DISTRIBUTIVE SHARE OF CREDIT FOR ENERGY CONSERVATION
31 Total tax credit claimed. Add lines 4, 15, 26, and 30, and enter total........................................................ ................................... 31
32 Distributive share of tax credit. (Each partner, member, beneficiary, or shareholder shall enter this amount on
Form N-157, line 31 or Form N-306, line 21, whichever is applicable. See Specific Instructions below) ..................................... 32
Individual and corporate members of partnerships or condominium apart-
GENERAL INSTRUCTIONS
ment associations, beneficiaries of estates and trusts, and shareholders of S
corporations are required to attach this statement to Form N-157 or Form
REQUIREMENTS FOR CLAIMING TAX CREDIT
N-306, as applicable.
Each resident taxpayer who files an income tax return for a taxable year
FOR PURPOSES OF THE TAX CREDIT
may claim a tax credit against the taxpayer’s income tax liability for a solar or
wind energy system, heat pump, or ice storage system installed and placed
“Solar or wind energy system” means any new identifiable facility, equip-
into service during the taxable year by filing Form N-157 (individuals) or Form
ment, apparatus, or the like that converts solar insolation or wind energy to
N-306 (corporations), as applicable. The credit is applicable only to the ac-
useful thermal or electrical energy for heating, cooling, or reducing the use of
tual cost of the system, including its accessories and installation, and does
other types of energy dependent upon fossil fuel for their generation.
not include the cost of consumer incentive premiums unrelated to the opera-
“Heat pump” means and refers to an electric powered compression heat-
tion of the system or offered with the sale of the system (such as “free gifts,”
ing system which extracts energy from warm ambient air or recovers waste
offers to pay electricity bills, or rebates, including rebates from utility compa-
heat to assist in the production of hot water.
nies).
“Ice storage system” refers to ice banks or other cool energy storage
A licensed professional engineer must review the design of the heat pump
tanks, containers, accessories, and controls that are specially designed to
installed in multi-unit buildings and provide a written opinion that the system,
store ice or chilled fluids for the express purpose of shifting the consumption
in accordance with recognized engineering practice, is designed to provide
of energy to off-peak periods.
not less than 90% of the daily annual average hot water needs of all the occu-
“Single family residential building” means a structure maintained and used as
pants of the building.
a home, residence, or sleeping place by one or more persons maintaining a
The tax credit may be claimed for the following energy conservation sys-
common household. A dwelling unit that shares one or more walls with another
tems installed and placed in service after December 31, 1989 (December 31,
dwelling unit shall be deemed a single family residential building if it has direct
1990, for ice storage systems), but before July 1, 2003.
access to a street or thoroughfare and does not share hot water equipment or
any other essential facility or service with any other dwelling unit.
Type of Energy
Tax Credit
“Multi-unit residential building” means a structure containing more than
Conservation System
Rate
one dwelling unit, each of which is intended to be maintained and used as a
1.
Wind energy systems
20% of the actual cost of
home, residence, or sleeping place by persons maintaining separate house-
the system.
holds.
2.
Solar energy systems
The director may require the taxpayer to furnish reasonable information to
a. New and existing
The lesser of 35% of the
ascertain the validity of the claim for credit made and may adopt rules neces-
single family residential
actual cost of the system
sary to effectuate the purposes of claiming this credit pursuant to chapter 91,
buildings.
or $1,750.
Hawaii Revised Statutes.
The tax credit shall be claimed against the taxpayer’s net income tax liabil-
b. New and existing
Per building unit:
ity for the year in which the solar or wind energy system, heat pump, or ice
multi-unit buildings
The lesser of 35% of each unit’s
storage system was purchased and placed in use in Hawaii. Tax credits
used primarily for
actual cost of the system
which exceed the taxpayer’s income tax liability may be used as credit against
residential purposes.
or $350.
the taxpayer’s income tax liability in subsequent years until exhausted.
c. New and existing
35% of the actual cost
SPECIFIC INSTRUCTIONS
hotel, commercial and
of the system.
Complete one Form N-157A for each individual and corporate partner,
industrial facilities.
member, beneficiary, or shareholder receiving a distributive share of this
credit. Attach a copy of the Forms N-157A as issued to each partner, mem-
3.
Heat pumps
ber, beneficiary, or shareholder to the return of the partnership, condominium
a. New and existing
The lesser of 20% of the
apartment association, estate, trust, or S corporation.
single family residential
actual cost of the heat pump
buildings.
or $400.
Above Line 1 — Enter the date the system or heat pump was purchased
and placed in service.
b. New and existing
Per building unit:
Lines 1 through 30 — Fill in the lines as they apply to your claim.
multi-unit buildings
The lesser of 20% of each unit’s
Lines 7 and 18 — The per unit cost of a solar energy system or heat
used primarily for
actual cost of the heat pump
pump installed and placed in service in a multi-unit residential building is de-
residential purposes.
or $200.
termined as follows:
Total square feet of each unit
c. New and existing
20% of the actual cost
The actual cost
x
of the system
hotel, commercial and
of the heat pump.
Total square feet of all units
or heat pump
industrial facilities.
in the multi-unit building
Lines 3, 14, 25, and 29 — If federal energy tax credits are enacted for
4.
Ice Storage Systems
50% of the actual cost
systems for which a state credit is available, the state credit shall be reduced
of the system.
by the amount of the federal credit. The federal credit will reduce the amount
If federal energy tax credits for systems similar to any of those above are
of the specific credit to which it is similar rather than the total credit.
established after June 30, 1998, but before July 1, 2003, the amount of the
Line 32 — Distributive share of tax credit:
state credit for energy conservation must be reduced by the amount of the ap-
Each individual and corporate partner, member, beneficiary, or share-
plicable federal energy tax credit.
holder of a partnership, condominium apartment association, estate, trust, or
In the event that tax credits claimed exceed the amount of the income tax
S corporation receiving a Form N-157A must enter this amount on Form
payments due, the excess of credits may be carried over to subsequent years
N-157, line 31, or Form N-306, line 21, as applicable. Both the Form N-157 or
until exhausted.
Form N-306 and a copy of the Form N-157A must be attached to the resident
individual or corporate income tax return on which the credit is claimed.
FORM N-157A
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