Any real estate development project that is designed to meet LEED Green Building Rating System gold certificate or other equivalent certification and does not exceed 70% of the energy use allowed by the state energy code for new construction (or 80% for renovations/rehabilitation) are eligible for tax credits equivalent to a percentage of allowable costs based on the type of project and the LEED Rating achieved.
Businesses planning to develop in brownfield locations are eligible for a variety of benefits, including negotiable low-interest, long-term loans, up to $4 million in grants, and a special fund for environmentally friendly dry cleaning businesses.
A tax exemption on the sale, storage, use or other consumption of machinery, equipment, tools, materials, and supplies, and fuel used directly in the renewable energy and clean energy technology industries. A renewable and clean energy technology industry is any industry that:
- Produces, improves or develops solar energy electricity generating systems
- Passive or active solar water or space heating systems
- Geothermal resource systems
- Wind power electric generation systems
- Any equipment related to any of the above systems