House File 2757 H-8368 Amend House File 2757 as follows: 1 1. Page 1, before line 1 by inserting: 2 < DIVISION I 3 NUCLEAR ELECTRIC GENERATION FACILITIES —— SALES AND USE TAX 4 EXEMPTIONS > 5 2. Page 3, line 13, before < Act > by inserting < division of 6 this > 7 3. Page 3, after line 16 by inserting: 8 < DIVISION ___ 9 WIND ENERGY CONVERSION PROPERTY —— SURCHARGE 10 Sec. ___. NEW SECTION . 476.53B Wind energy conversion 11 property —— surcharge. 12 1. It is the intent of the general assembly that the 13 surcharge imposed under this section serve as a partial offset 14 to the revenue reductions resulting from exemptions for nuclear 15 electric generation facilities under section 423.3, subsection 16 111. 17 2. For purposes of this section, “wind energy conversion 18 property” means the same as defined in section 427B.26. 19 3. In addition to property taxes due and payable in fiscal 20 years beginning on or after July 1, 2027, a surcharge is 21 imposed on all wind energy conversion property valued under 22 section 427B.26 in an amount equal to the difference, but not 23 less than zero, between the following using the wind energy 24 conversion property’s net acquisition cost as the actual value 25 of the property: 26 a. The amount of property taxes that would be due and 27 payable if the wind energy conversion property were assessed 28 as industrial property under section 441.21, subsection 5, 29 paragraph “c” , using the wind energy conversion property’s net 30 acquisition cost as the actual value of the property, and taxed 31 at the levy rates applicable to industrial property in the 32 taxing district where the property is located. 33 b. The amount of property taxes due and payable on the wind 34 energy conversion property for the applicable fiscal year. 35 -1- HF 2757.4020 (2) 91 sb/jh 1/ 3 #1. #2. #3.

4. The surcharge imposed under this section shall apply 1 to all wind energy conversion property subject to special 2 valuation under section 427B.26, whether such property 3 commenced commercial operation before or after the effective 4 date of this division of this Act. 5 5. The surcharge amount due under this section for each 6 fiscal year in which property taxes are due and payable on 7 the wind energy conversion property shall be calculated by 8 the county assessor of the county in which the wind energy 9 conversion property is located. 10 6. The surcharge imposed under this section shall be 11 assessed, billed, and collected by the county assessor and 12 county treasurer of the county in which the wind energy 13 conversion property is located, in the same manner and subject 14 to the same penalties, interest, and enforcement provisions 15 as property taxes imposed on wind energy conversion property 16 subject to special valuation under section 427B.26. 17 7. The proceeds of the surcharge imposed under this section 18 shall be distributed as follows: 19 a. Fifty percent shall be apportioned and paid by the county 20 treasurer to the taxing authorities in the taxing district 21 where the wind energy conversion property is located in the 22 same proportions as property taxes due and payable are imposed 23 for the same fiscal year. Such amounts shall be used by each 24 recipient taxing authority to reduce the taxing authority’s 25 property tax dollars levied on all property in the succeeding 26 fiscal year. 27 b. Fifty percent shall be remitted by the county treasurer 28 to the treasurer of state for deposit in the general fund of 29 the state. 30 8. The surcharge imposed under this section is in addition 31 to, and not in lieu of, any other tax, fee, or financial 32 obligation imposed on wind energy conversion property or its 33 owner or operator under any other provision of law. Payment 34 of the surcharge shall not be credited against, or otherwise 35 -2- HF 2757.4020 (2) 91 sb/jh 2/ 3

reduce, any other tax or financial obligation of the wind 1 energy conversion property owner or operator. 2 9. The department of revenue shall, by January 1, 2028, 3 and January 1 of each year thereafter, prepare and submit to 4 the general assembly a report detailing, for the most recently 5 completed fiscal year, the total amount of surcharges collected 6 statewide; the amount distributed to each taxing authority in 7 each county; the amount remitted to the general fund; and the 8 estimated reduction in property tax levies achieved in each 9 taxing district as the result of the surcharge. > 10 4. Title page, line 1, by striking < creating > and inserting 11 < relating to taxes on electric generation facilities, 12 including > 13 5. Title page, line 3, after < facilities > by inserting < and 14 a surcharge for wind energy conversion property > 15 6. By renumbering as necessary. 16 ______________________________ THOMSON of Floyd -3- HF 2757.4020 (2) 91 sb/jh 3/ 3 #4. #5. #6.