Senate File 2032 - Introduced SENATE FILE 2032 BY RAGAN A BILL FOR An Act extending placement in service requirements in relation 1 to qualification for the renewable energy facility tax 2 credit. 3 BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA: 4 TLSB 5620XS (2) 85 rn/sc

S.F. 2032 Section 1. Section 476C.1, subsection 6, paragraph d, Code 1 2014, is amended to read as follows: 2 d. Was initially placed into service on or after July 1, 3 2005, and before January 1, 2015 2016 . 4 Sec. 2. Section 476C.5, Code 2014, is amended to read as 5 follows: 6 476C.5 Certificate issuance period. 7 A producer or purchaser of renewable energy may receive 8 renewable energy tax credit certificates for a ten-year period 9 for each eligible renewable energy facility under this chapter . 10 The ten-year period for issuance of the tax credit certificates 11 begins with the date the purchaser of renewable energy first 12 purchases electricity, hydrogen fuel, methane gas or other 13 biogas used to generate electricity, or heat for commercial 14 purposes from the eligible renewable energy facility for 15 which a tax credit is issued under this chapter , or the date 16 the producer of the renewable energy first uses the energy 17 produced by the eligible renewable energy facility for on-site 18 consumption. Renewable energy tax credit certificates shall 19 not be issued for renewable energy purchased or produced for 20 on-site consumption after December 31, 2024 2025 . 21 EXPLANATION 22 The inclusion of this explanation does not constitute agreement with 23 the explanation’s substance by the members of the general assembly. 24 This bill extends placement in service requirements for 25 qualification for the renewable energy tax credit established 26 in Code chapter 476C. 27 Currently, to be considered a renewable energy facility 28 eligible for qualification for the tax credit, a facility 29 must have been initially placed into service on or after July 30 1, 2005, and before January 1, 2015. The bill extends the 31 latter date by one year, to January 1, 2016, resulting in an 32 additional year for a facility to be placed into service and 33 qualify for the credit. The bill makes a corresponding change 34 to extend the 10-year duration during which a producer or 35 -1- LSB 5620XS (2) 85 rn/sc 1/ 2

S.F. 2032 purchaser of renewable energy may receive renewable energy tax 1 credit certificates from an end date of December 31, 2024, to 2 December 31, 2025. 3 -2- LSB 5620XS (2) 85 rn/sc 2/ 2