Senate File 2133 - Introduced
SENATE FILE
BY KIBBIE, BEALL, HOUSER, WOOD,
LUNDBY, BLACK, SCHOENJAHN,
JOHNSON, MILLER, BOLKCOM,
and GASKILL
Passed Senate, Date Passed House, Date
Vote: Ayes Nays Vote: Ayes Nays
Approved
A BILL FOR
1 An Act relating to the renewable energy tax credit.
2 BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA:
3 TLSB 5725SS 81
4 kk/gg/14
PAG LIN
1 1 Section 1. Section 476C.1, subsection 6, paragraph d, Code
1 2 Supplement 2005, is amended to read as follows:
1 3 d. Was initially placed into service on or after July 1,
1 4 2005, and before January 1, 2011 2012.
1 5 Sec. 2. Section 476C.3, subsections 3 and 4, Code
1 6 Supplement 2005, are amended to read as follows:
1 7 3. A facility that is not operational within eighteen
1 8 thirty months after issuance of an approval for the facility
1 9 by the board shall cease to be an eligible renewable energy
1 10 facility. A facility that is granted and thereafter loses
1 11 approval may reapply to the board for a new determination.
1 12 4. The maximum amount of nameplate generating capacity of
1 13 all wind energy conversion facilities the board may find
1 14 eligible under this chapter shall not exceed ninety one
1 15 hundred eighty megawatts of nameplate generating capacity.
1 16 The maximum amount of energy production capacity equivalent of
1 17 all other facilities the board may find eligible under this
1 18 chapter shall not exceed a combined output of ten twenty
1 19 megawatts of nameplate generating capacity.
1 20 Sec. 3. Section 476C.5, Code Supplement 2005, is amended
1 21 to read as follows:
1 22 476C.5 CERTIFICATE ISSUANCE PERIOD.
1 23 A producer or purchaser of renewable energy may receive
1 24 renewable energy tax credit certificates for a ten=year period
1 25 for each eligible renewable energy facility under this
1 26 chapter. The ten=year period for issuance of the tax credit
1 27 certificates begins with the date the purchaser of renewable
1 28 energy first purchases electricity, hydrogen fuel, methane gas
1 29 or other biogas used to generate electricity, or heat for
1 30 commercial purposes from the eligible renewable energy
1 31 facility for which a tax credit is issued under this chapter.
1 32 Renewable energy tax credit certificates shall not be issued
1 33 for renewable energy purchased after December 31, 2020 2021.
1 34 EXPLANATION
1 35 This bill relates to the renewable energy tax credit. The
2 1 bill extends the eligibility of renewable energy facilities
2 2 for the renewable energy tax credit by one year to include
2 3 those facilities that are initially placed into service before
2 4 January 1, 2012. The bill extends the time by which an
2 5 eligible renewable energy facility must be operational after
2 6 approval of eligibility is granted from 18 months to 30
2 7 months.
2 8 The bill allows for additional tax credits for the
2 9 production of wind energy by increasing the maximum amount of
2 10 nameplate generating capacity that the board may find eligible
2 11 for a renewable energy tax credit from 90 megawatts to 180
2 12 megawatts. The bill similarly increases the maximum
2 13 eligibility for other nonwind renewable energy facilities from
2 14 10 megawatts to 20 megawatts of nameplate generating capacity.
2 15 The bill extends the tax credit certificate issuance period
2 16 by one year to allow tax credits issued for facilities placed
2 17 into service before January 1, 2012, to have the same 10=year
2 18 period of eligibility to produce and sell renewable energy for
2 19 a renewable energy tax credit certificate as facilities are
2 20 allowed under current law.
2 21 LSB 5725SS 81
2 22 kk:rj/gg/14