House File 166 - Introduced



                                       HOUSE FILE       
                                       BY  MAY


    Passed House,  Date               Passed Senate, Date             
    Vote:  Ayes        Nays           Vote:  Ayes        Nays         
                 Approved                            

                                      A BILL FOR

  1 An Act relating to wind energy production by extending the time
  2    period during which a qualified facility may be placed in
  3    service to qualify for the wind energy production tax credit.
  4 BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA:
  5 TLSB 2113YH 82
  6 rn/es/88

PAG LIN



  1  1    Section 1.  Section 476B.1, subsection 4, paragraph c, Code
  1  2 2007, is amended to read as follows:
  1  3    c.  Was originally placed in service on or after July 1,
  1  4 2005, but before July 1, 2009 2011.
  1  5                           EXPLANATION
  1  6    This bill relates to income tax credits available for wind
  1  7 energy production.  In order to receive a tax credit against
  1  8 personal taxes, corporate taxes, franchise taxes, or insurance
  1  9 company gross premium taxes, Code section 476B.1 requires an
  1 10 electrical production facility to be a "qualified facility".
  1 11 A qualified facility is defined as a facility producing
  1 12 electricity from wind, located in this state, and originally
  1 13 placed in service on or after July 1, 2005, but before July 1,
  1 14 2009.  The bill extends by two years the time period during
  1 15 which a facility may be placed in service in order to be
  1 16 considered qualified, from before July 1, 2009, to before July
  1 17 1, 2011.
  1 18 LSB 2113YH 82
  1 19 rn:nh/es/88