Senate Study Bill 1272 



                                     SENATE FILE       
                                     BY  (PROPOSED COMMITTEE ON
                                          ENVIRONMENT AND ENERGY
                                          INDEPENDENCE BILL BY
                                          CHAIRPERSON BLACK)


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

                                      A BILL FOR

  1 An Act extending the time period during which a wind energy
  2    conversion facility shall be considered approved for purposes
  3    of the renewable energy tax credit under specified
  4    circumstances.
  5 BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA:
  6 TLSB 2507XC 83
  7 rn/nh/14

PAG LIN



  1  1    Section 1.  Section 476C.3, subsection 3, Code 2009, is
  1  2 amended to read as follows:
  1  3    3.  A facility that is not operational within thirty months
  1  4 after issuance of an approval for the facility by the board
  1  5 shall cease to be an eligible renewable energy facility.
  1  6 However, a wind energy conversion facility that is approved as
  1  7 eligible under this section but is not operational within
  1  8 eighteen months due to the unavailability of necessary
  1  9 equipment or a delay in receiving federal transmission
  1 10 approval from the federal energy regulatory commission shall
  1 11 be granted an additional twelve twenty=four months to become
  1 12 operational.  A facility that is granted and thereafter loses
  1 13 approval may reapply to the board for a new determination.
  1 14                           EXPLANATION
  1 15    This bill relates to wind energy conversion facilities that
  1 16 have received approval for the renewable energy tax credit
  1 17 pursuant to Code chapter 476C.  Current law provides that an
  1 18 eligible renewable energy facility, as defined in the Code
  1 19 chapter, that is not operational within 30 months after
  1 20 receiving approval shall cease to be eligible for the credit.
  1 21 An exception is provided, however, if the facility is a wind
  1 22 energy conversion facility which was not operational within 18
  1 23 months due to the unavailability of necessary equipment.  In
  1 24 such cases an additional 12=month period shall be granted.
  1 25 The bill extends this additional period to wind energy
  1 26 conversion facilities which were not operational because of a
  1 27 delay in receiving federal transmission approval from the
  1 28 federal energy regulatory commission, and increases the
  1 29 12=month period to 24 months.
  1 30 LSB 2507XC 83
  1 31 rn/nh/14