Bill Text: IA HF645 | 2015-2016 | 86th General Assembly | Enrolled
Bill Title: A bill for an act modifying and enacting provisions relating to specified renewable energy tax credits, and including effective date and retroactive applicability provisions. Effective 6-26-15.
Spectrum: Committee Bill
Status: (Passed) 2015-06-26 - Signed by Governor. H.J. 1187. [HF645 Detail]
Download: Iowa-2015-HF645-Enrolled.html
House File 645 - Enrolled
HOUSE FILE
BY COMMITTEE ON WAYS AND
MEANS
(SUCCESSOR TO HSB 212)
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A BILL FOR
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House File 645
AN ACT
MODIFYING AND ENACTING PROVISIONS RELATING TO SPECIFIED
RENEWABLE ENERGY TAX CREDITS, AND INCLUDING EFFECTIVE DATE
AND RETROACTIVE APPLICABILITY PROVISIONS.
BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA:
Section 1. Section 422.11L, subsection 1, Code 2015, is
amended by adding the following new paragraph:
NEW PARAGRAPH. c. Notwithstanding paragraphs "a" and "b"
of this subsection, for installations occurring on or after
January 1, 2016, the applicable percentages of the federal
residential energy efficiency property tax credit related to
solar energy and the federal energy credit related to solar
energy systems shall be fifty percent.
Sec. 2. Section 422.11L, subsection 4, paragraph a, Code
2015, is amended to read as follows:
a. The cumulative value of tax credits claimed annually
by applicants pursuant to this section shall not exceed four
five million five hundred thousand dollars. Of this amount,
at least one million dollars shall be reserved for claims
associated with or resulting from residential solar energy
system installations. In the event that the total amount
of claims submitted for residential solar energy system
installations in a tax year is an amount less than one million
dollars, the remaining unclaimed reserved amount shall be
made available for claims associated with or resulting from
nonresidential solar energy system installations received for
the tax year.
Sec. 3. Section 422.33, subsection 29, paragraph a, Code
2015, is amended to read as follows:
a. The taxes imposed under this division shall be reduced by
a solar energy system tax credit equal to sixty percent of the
federal energy credit related to solar energy systems provided
in section 48(a)(2)(A)(i)(II) and section 48(a)(2)(A)(i)(III)
of the Internal Revenue Code, not to exceed twenty thousand
dollars. For installations occurring on or after January 1,
2016, the applicable percentage of the federal energy credit
related to solar energy systems shall be fifty percent.
Sec. 4. Section 422.60, subsection 12, paragraph a, Code
2015, is amended to read as follows:
a. The taxes imposed under this division shall be reduced by
a solar energy system tax credit equal to sixty percent of the
federal energy credit related to solar energy systems provided
in section 48(a)(2)(A)(i)(II) and section 48(a)(2)(A)(i)(III)
of the Internal Revenue Code, not to exceed twenty thousand
dollars. For installations occurring on or after January 1,
2016, the applicable percentage of the federal energy credit
related to solar energy systems shall be fifty percent.
Sec. 5. Section 476C.1, subsection 6, paragraph b,
subparagraph (4), Code 2015, is amended to read as follows:
(4) An electric cooperative association organized pursuant
to chapter 499 that sells electricity to end users located in
this state, a municipally owned city utility as defined in
section 362.2, or a public utility subject to rate regulation
pursuant to chapter 476.
Sec. 6. Section 476C.3, subsection 4, paragraph b, Code
2015, is amended to read as follows:
b. The maximum amount of energy production capacity
equivalent of all other facilities the board may find eligible
under this chapter shall not exceed a combined output of
fifty=three sixty=three megawatts of nameplate generating
capacity and, annually, one hundred sixty=seven billion British
thermal units of heat for a commercial purpose.
(1) Of the maximum amount of energy production capacity
equivalent of all other facilities found eligible under this
chapter, no more than ten megawatts of nameplate generating
capacity or energy production capacity equivalent shall be
allocated to any one facility.
(2) Of the maximum amount of energy production capacity
equivalent of all other facilities found eligible under this
chapter, fifty=five billion British thermal units of heat for a
commercial purpose shall be reserved annually for an eligible
facility that is a refuse conversion facility for processed,
engineered fuel from a multicounty solid waste management
planning area. The maximum amount of energy production
capacity the board may find eligible for a single refuse
conversion facility is, annually, fifty=five billion British
thermal units of heat for a commercial purpose.
(3) Of the maximum amount of energy production capacity
equivalent of all other facilities found eligible under this
chapter, ten megawatts of nameplate generating capacity or
energy production equivalent shall be reserved for solar
facilities with a generating capacity of one and one=half
megawatts or less owned or contracted for by utilities
described in section 476C.1, subsection 6, paragraph "b",
subparagraphs (4) and (5).
Sec. 7. Section 476C.5, Code 2015, is amended to read as
follows:
476C.5 Certificate issuance period.
A producer or purchaser of renewable energy may shall
receive renewable energy tax credit certificates for a ten=year
period for each eligible renewable energy facility under this
chapter. The ten=year period for issuance of the tax credit
certificates begins with the date the purchaser of renewable
energy first purchases electricity, hydrogen fuel, methane
gas or other biogas used to generate electricity, or heat for
commercial purposes from the eligible renewable energy facility
for which a tax credit is issued under this chapter, or the
date the producer of the renewable energy first uses the energy
produced by the eligible renewable energy facility for on=site
consumption. Renewable energy tax credit certificates shall
not be issued for renewable energy purchased or produced for
on=site consumption after December 31, 2026.
Sec. 8. Section 533.329, subsection 2, Code 2015, is amended
by adding the following new paragraph:
NEW PARAGRAPH. l. The moneys and credits tax imposed under
this section shall be reduced by a solar energy system tax
credit allowed under section 422.11L.
Sec. 9. EFFECTIVE UPON ENACTMENT. This Act, being deemed of
immediate importance, takes effect upon enactment.
Sec. 10. RETROACTIVE APPLICABILITY.
1. Except as provided in subsection 2, the sections of this
Act amending section 476C.3, subsection 4, paragraph "b", and
section 476C.5, apply retroactively to January 1, 2014, for tax
years beginning on or after that date.
2. The section of this Act amending section 476C.1,
subsection 6, and section 476C.3, subsection 4, paragraph "b",
unnumbered paragraph 1, and enacting section 476C.3, subsection
4, paragraph "b", subparagraph (3), applies retroactively to
January 1, 2015, for tax years beginning on or after that date.
3. The section of this Act amending section 422.11L,
subsection 4, paragraph "a", applies retroactively to January
1, 2015, for tax years beginning on or after that date.
4. The section of this Act enacting section 533.329,
subsection 2, paragraph "l", applies retroactively to January
1, 2015, for tax years beginning on or after that date.
KRAIG PAULSEN
Speaker of the House
PAM JOCHUM
President of the Senate
I hereby certify that this bill originated in the House and
is known as House File 645, Eighty=sixth General Assembly.
CARMINE BOAL
Chief Clerk of the House
Approved , 2015
TERRY E. BRANSTAD
Governor
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