House File 645 - Introduced
HOUSE FILE
BY COMMITTEE ON WAYS AND
MEANS
(SUCCESSOR TO HSB 212)
A BILL FOR
1 An Act modifying provisions applicable to the renewable energy
2 tax credit, and including effective date and retroactive
3 applicability provisions.
4 BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA:
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PAG LIN
1 1 Section 1. Section 476C.3, subsection 4, paragraph b, Code
1 2 2015, is amended to read as follows:
1 3 b. The maximum annual amount of energy production capacity
1 4 equivalent of all other facilities the board may find eligible
1 5 under this chapter shall not exceed a combined output of
1 6 fifty=three megawatts of nameplate generating capacity and one
1 7 hundred sixty=seven billion British thermal units of heat for
1 8 a commercial purpose. Of the maximum annual amount of energy
1 9 production capacity equivalent of all other facilities found
1 10 eligible under this chapter, no more than ten megawatts of
1 11 nameplate generating capacity or energy production capacity
1 12 equivalent shall be allocated annually to any one facility.
1 13 Of the maximum annual amount of energy production capacity
1 14 equivalent of all other facilities found eligible under this
1 15 chapter, fifty=five billion British thermal units of heat for a
1 16 commercial purpose shall be reserved annually for an eligible
1 17 facility that is a refuse conversion facility for processed,
1 18 engineered fuel from a multicounty solid waste management
1 19 planning area. The maximum amount of annual energy production
1 20 capacity the board may find eligible for a single refuse
1 21 conversion facility is fifty=five billion British thermal units
1 22 of heat for a commercial purpose.
1 23 Sec. 2. Section 476C.5, Code 2015, is amended to read as
1 24 follows:
1 25 476C.5 Certificate issuance period.
1 26 A producer or purchaser of renewable energy may shall
1 27 receive renewable energy tax credit certificates for a ten=year
1 28 period for each eligible renewable energy facility under this
1 29 chapter. The ten=year period for issuance of the tax credit
1 30 certificates begins with the date the purchaser of renewable
1 31 energy first purchases electricity, hydrogen fuel, methane
1 32 gas or other biogas used to generate electricity, or heat for
1 33 commercial purposes from the eligible renewable energy facility
1 34 for which a tax credit is issued under this chapter, or the
1 35 date the producer of the renewable energy first uses the energy
2 1 produced by the eligible renewable energy facility for on=site
2 2 consumption. Renewable energy tax credit certificates shall
2 3 not be issued for renewable energy purchased or produced for
2 4 on=site consumption after December 31, 2026.
2 5 Sec. 3. EFFECTIVE UPON ENACTMENT. This Act, being deemed of
2 6 immediate importance, takes effect upon enactment.
2 7 Sec. 4. RETROACTIVE APPLICABILITY. This Act applies
2 8 retroactively to January 1, 2014, for applications for a
2 9 renewable energy tax credit received by the board on or after
2 10 that date.
2 11 EXPLANATION
2 12 The inclusion of this explanation does not constitute agreement with
2 13 the explanation's substance by the members of the general assembly.
2 14 This bill modifies provisions applicable to the renewable
2 15 energy tax credit.
2 16 Currently, Code section 476C.3, subsection 4, specifies the
2 17 maximum amount of energy production capacity equivalent of all
2 18 renewable energy production facilities, other than wind energy
2 19 facilities, that the Iowa utilities board may find eligible
2 20 for a renewable energy tax credit. The bill modifies these
2 21 amounts, and allocations from these amounts, to refer to annual
2 22 amounts.
2 23 Additionally, current Code section 476C.5 provides that
2 24 the renewable energy tax credit may be received for a 10=year
2 25 period for an eligible renewable energy facility. The bill
2 26 deletes the word "may" and substitutes that the credit "shall"
2 27 be received for a 10=year period.
2 28 The bill takes effect upon enactment and is retroactively
2 29 applicable to January 1, 2014, for applications for a renewable
2 30 energy tax credit received by the Iowa utilities board on or
2 31 after that date.
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