A tax of ¢10 on cigarette packs would fund the research for the creation of unconventional renewable energy for consumption, according to a bill promoted by legislator Edgardo Araya Frente Amplio.
The initiative states that the research will also be funded with at least 20% of the Incentive Fund of the National Council for Scientific and Technological Research (CONICIT).
Companies would also receive tariff incentives for importing, distributing, installing and maintaining equipment such as solar panels; and the National Institute of Housing and Urban Development (INVU) would have the authority to give credits to install such devices within the line of home improvements.
Therefore, taxpayers subject to property tax could apply for a discount of 10% on the value of the property if they reduce energy consumption by at least 50%.