Wind energy taxation and renewable energy tax credits are revised under a bill passed on final reading May 5.<\/p>\n
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.<\/p>\n
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.<\/p>\n
The provisions affecting wind energy taxation have a retroactive implementation date of Jan. 1, 2010.<\/p>\n
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.<\/p>\n
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.<\/p>\n
Lawmakers voted 45-0 on final reading to approve LB360.<\/p>\n","protected":false},"excerpt":{"rendered":"
Wind energy taxation and renewable energy tax credits are revised under a bill passed on final reading May 5. LB360,<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"colormag_page_container_layout":"default_layout","colormag_page_sidebar_layout":"default_layout","jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[17],"tags":[119],"class_list":["post-4610","post","type-post","status-publish","format-standard","hentry","category-revenue","tag-sen-abbie-cornett"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/update.legislature.ne.gov\/index.php?rest_route=\/wp\/v2\/posts\/4610","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/update.legislature.ne.gov\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/update.legislature.ne.gov\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/update.legislature.ne.gov\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/update.legislature.ne.gov\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=4610"}],"version-history":[{"count":3,"href":"https:\/\/update.legislature.ne.gov\/index.php?rest_route=\/wp\/v2\/posts\/4610\/revisions"}],"predecessor-version":[{"id":10220,"href":"https:\/\/update.legislature.ne.gov\/index.php?rest_route=\/wp\/v2\/posts\/4610\/revisions\/10220"}],"wp:attachment":[{"href":"https:\/\/update.legislature.ne.gov\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=4610"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/update.legislature.ne.gov\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=4610"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/update.legislature.ne.gov\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=4610"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}