Senate File 210 - Introduced SENATE FILE 210 BY ANDERSON A BILL FOR An Act extending placement in service requirements applicable 1 to the renewable energy tax credit. 2 BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA: 3 TLSB 1874XS (3) 86 rn/nh
S.F. 210 Section 1. Section 476C.1, subsection 6, paragraph d, Code 1 2015, is amended to read as follows: 2 d. Was initially placed into service on or after July 1, 3 2005, and before January 1, 2017 2020 . 4 Sec. 2. Section 476C.5, Code 2015, 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, 2026 2029 . 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 the time period during which an eligible 25 renewable energy facility seeking to qualify for the renewable 26 energy tax credit pursuant to Code chapter 476C shall have 27 been placed in service by three years to January 1, 2020, and 28 correspondingly extends the existing 10-year duration for 29 credit issuance to December 31, 2029. 30 -1- LSB 1874XS (3) 86 rn/nh 1/ 1