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