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Text: S05825                            Text: S05827
Text: S05800 - S05899                   Text: S Index
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Senate Amendment 5826

Amendment Text

PAG LIN
  1  1    Amend the House amendment, S-5818, to Senate File
  1  2 2370, as amended, passed, and reprinted by the Senate,
  1  3 as follows:
  1  4    #1.  Page 1, by inserting after line 2 the
  1  5 following:
  1  6    "#   .  Page 1, by inserting before line 1 the
  1  7 following:
  1  8    "Section 1.  Section 422.51, Code 1995, is amended
  1  9 by adding the following new subsection:
  1 10    NEW SUBSECTION.  5.  The taxes remitted pursuant to
  1 11 this division shall be reduced by an alternate energy
  1 12 purchase tax credit.  An electric utility which has
  1 13 purchased electricity from an alternate energy
  1 14 production facility or small hydro facility pursuant
  1 15 to section 476.43 shall be granted the credit.  The
  1 16 credit shall equal the difference between the
  1 17 competitively bid rate per kilowatt hour that the
  1 18 utility paid for purchase of the electricity and the
  1 19 rate which is equivalent to the utility's total annual
  1 20 average cost per kilowatt hour of electricity for the
  1 21 year prior to the year in which the utility entered
  1 22 into the contract for purchase of the alternate
  1 23 energy.  A utility's total annual average cost per
  1 24 kilowatt hour shall be calculated by dividing annual
  1 25 operating expenses by the total annual number of
  1 26 kilowatt hours sold.  This difference shall be used to
  1 27 determine the alternate energy purchase tax credit for
  1 28 the remainder of the term of the contract.  The tax
  1 29 credit shall not be less than zero.""
  1 30    #2.  Page 1, by inserting before line 30 the
  1 31 following:
  1 32    "#   .  Page 6, by inserting before line 19 the
  1 33 following:  "Moneys allocated to the general fund
  1 34 pursuant to this subsection, shall be used to offset
  1 35 the alternate energy purchase tax credit under section
  1 36 422.51.""
  1 37    #3.  Page 1, by inserting after line 31 the
  1 38 following:
  1 39    "#   .  Page 9, by inserting after line 25 the
  1 40 following:
  1 41    "Sec.    .  Section 476.43, Code 1995, is amended
  1 42 by adding the following new subsection:
  1 43    NEW SUBSECTION.  7.  An electric utility purchasing
  1 44 alternate energy pursuant to this section shall be
  1 45 entitled to an alternate energy purchase tax credit.
  1 46 The electric utility shall reflect the tax credit
  1 47 received by the utility in the utility's automatic
  1 48 adjustment pursuant to section 476.6, subsection 11.
  1 49 The credit shall be equal to the difference between
  1 50 the kilowatt hour rate established through the
  2  1 competitive bidding process and the rate that is
  2  2 equivalent to the utility's total annual average cost
  2  3 per kilowatt hour of electricity for the year prior to
  2  4 the year in which the utility entered into the
  2  5 contract for purchase of the alternate energy as
  2  6 determined under section 422.51, subsection 5.""
  2  7    #4.  Page 1, by inserting after line 37 the
  2  8 following:
  2  9    "#   .  Title page, line 5, by inserting after the
  2 10 word "state" the following:  ", providing an alternate
  2 11 energy purchase tax credit,"."
  2 12    #5.  By renumbering as necessary.  
  2 13 
  2 14 
  2 15                               
  2 16 MARY LOU FREEMAN
  2 17 MARY A. LUNDBY
  2 18 BERL E. PRIEBE
  2 19 BILL FINK
  2 20 DENNIS H. BLACK
  2 21 ALLEN BORLAUG
  2 22 SF 2370.523 76
  2 23 js/jw
     

Text: S05825                            Text: S05827
Text: S05800 - S05899                   Text: S Index
Bills and Amendments: General Index     Bill History: General Index

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