Wind and renewable energy tax clarifications pass

Wind energy taxation and renewable energy tax credits are revised under a bill passed on final reading May 5.

LB360, introduced by Bellevue Sen. Abbie Cornett, clarifies that depreciable tangible personal property used to generate electricity from wind is exempt from property taxes, but real property is not exempt.

The bill also limits nameplate capacity tax credits to property taxes paid on depreciable personal property that exceed what would have been required under the nameplate capacity tax.

The provisions affecting wind energy taxation have a retroactive implementation date of Jan. 1, 2010.

The bill also strikes language limiting renewable energy tax credits to zero-emission facilities, which are facilities whose operation results in no pollution or emissions certified as harmful to the environment by the state Department of Environmental Quality.

Finally, the bill decreases the maximum amount of renewable energy tax credits from $750,000 to $50,000. The credit currently is 0.075 cent per kilowatt-hour for electricity generated.

Lawmakers voted 45-0 on final reading to approve LB360.