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:
    TLSB 1971HV (2) 86
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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.
       LSB 1971HV (2) 86
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