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