Bill Text: IA SF503 | 2011-2012 | 84th General Assembly | Introduced
Bill Title: A bill for an act providing an additional renewable energy tax credit.
Spectrum: Partisan Bill (Democrat 1-0)
Status: (Introduced - Dead) 2011-12-31 - END OF 2011 ACTIONS [SF503 Detail]
Download: Iowa-2011-SF503-Introduced.html
Senate
File
503
-
Introduced
SENATE
FILE
503
BY
HOGG
A
BILL
FOR
An
Act
providing
an
additional
renewable
energy
tax
credit.
1
BE
IT
ENACTED
BY
THE
GENERAL
ASSEMBLY
OF
THE
STATE
OF
IOWA:
2
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503
Section
1.
Section
476C.2,
Code
2011,
is
amended
by
adding
1
the
following
new
subsection:
2
NEW
SUBSECTION
.
1A.
In
addition
to
the
energy
tax
credits
3
provided
pursuant
to
subsection
1,
a
producer
or
purchaser
of
4
renewable
energy
may
receive
additional
renewable
energy
tax
5
credits
in
amounts
and
pursuant
to
a
timetable
as
follows:
6
a.
A
one
cent
per
kilowatt-hour
production
tax
credit
for
7
up
to
four
hundred
megawatts
of
electricity
for
wind
energy
8
conversion
facilities
installed
on
or
before
December
31,
2014,
9
and
for
up
to
one
hundred
megawatts
of
additional
capacity
10
installed
each
year
beginning
January
1,
2015,
through
December
11
31,
2020.
12
b.
(1)
A
one
and
one-half
cent
per
kilowatt-hour
production
13
tax
credit
for
up
to
two
hundred
fifty
megawatts
of
electricity
14
generated
by
a
biomass
conversion
facility,
a
solar
energy
15
conversion
facility,
or
a
refuse
conversion
facility
installed
16
on
or
before
December
31,
2015,
and
for
up
to
fifty
megawatts
17
of
additional
capacity
installed
each
year
beginning
January
1,
18
2016,
through
December
31,
2020.
19
(2)
A
four
dollar
and
fifty
cent
per
million
British
thermal
20
unit
tax
credit
for
the
energy
production
capacity
equivalent
21
of
two
hundred
fifty
megawatts
of
methane
gas
or
other
biogas
22
used
to
generate
electricity
and
installed
on
or
before
23
December
31,
2015,
and
for
up
to
the
energy
production
capacity
24
equivalent
of
fifty
megawatts
of
additional
capacity
installed
25
each
year
beginning
January
1,
2016,
through
December
31,
2020.
26
(3)
For
a
producer
or
purchaser
of
renewable
energy
27
specified
in
subparagraphs
(1)
or
(2),
a
twenty-five
percent
28
tax
credit
for
the
reasonable
costs
of
construction
of
an
29
eligible
renewable
energy
facility,
as
determined
by
the
board
30
by
rule.
31
EXPLANATION
32
This
bill
increases
tax
credits
available
to
renewable
33
energy
producers
or
purchasers
pursuant
to
Code
chapter
476C.
34
The
bill
provides
for
an
additional
one
cent
per
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503
kilowatt-hour
production
tax
credit
for
up
to
400
megawatts
of
1
electricity
for
wind
energy
conversion
facilities
installed
on
2
or
before
December
31,
2014,
and
for
up
to
100
megawatts
of
3
additional
capacity
installed
each
year
beginning
January
1,
4
2015,
and
ending
December
31,
2020.
The
bill
also
provides
for
5
a
one
and
one-half
cent
per
kilowatt-hour
production
tax
credit
6
for
up
to
250
megawatts
of
electricity
generated
by
a
biomass
7
conversion
facility,
a
solar
energy
conversion
facility,
or
8
a
refuse
conversion
facility
installed
on
or
before
December
9
31,
2015,
and
for
up
to
50
megawatts
of
additional
capacity
10
installed
each
year
beginning
January
1,
2016,
through
December
11
31,
2020.
12
The
bill
additionally
provides
for
a
$4.50
per
million
13
British
thermal
unit
tax
credit
for
up
to
the
energy
production
14
capacity
equivalent
of
250
megawatts
of
methane
gas
or
other
15
biogas
used
to
generate
electricity
installed
on
or
before
16
December
31,
2015,
and
for
up
to
the
energy
production
capacity
17
equivalent
of
50
megawatts
of
additional
capacity
installed
18
each
year
beginning
January
1,
2016,
through
December
31,
2020.
19
The
bill
further
provides
that
a
producer
or
purchaser
of
20
renewable
energy
may
receive
a
25
percent
tax
credit
for
the
21
reasonable
costs
of
construction
of
an
eligible
renewable
22
energy
facility,
as
determined
by
the
Iowa
utilities
board
by
23
rule.
24
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