The Natural Resources Committee heard testimony March 1 on a bill that would allow more wind projects to qualify for a wind energy sales tax exemption.<\/p>\n
Currently, private wind energy projects can qualify for a sales tax exemption on the equipment and supplies used in construction if at least 33 percent of the revenue from the project for the first 20 years is directed back to Nebraska residents or companies.<\/p>\n
LB402, introduced by Omaha Sen. Heath Mello, would relax current restrictions to allow more projects to receive the exemption. Mello said since its adoption in 2007, only one utility-scale wind project has utilized the exemption.<\/p>\n
\u201cNebraska consistently ranks in the top 10 states in the country for potential for wind energy production,\u201d he said. \u201cOne of the key remaining barriers is the fact that equipment and supplies are subject to tax.\u201d<\/p>\n
The bill would amend the current statute by:
\n\u2022 expanding the definition of \u201cpayments to the local community\u201d to include payments for products manufactured in Nebraska or by Nebraska companies and services provided by Nebraska companies;
\n\u2022 reducing the qualifying percentage threshold from 33 percent to 25 percent; and
\n\u2022 loosening corporate restrictions by allowing corporations domiciled in Nebraska to meet the definition of \u201cqualified owner.\u201d<\/p>\n
LB402 also would expand current law to include renewable energy projects that use biomass or landfill gas.<\/p>\n
Adam Herink, Bluestem Energy Solutions vice president, testified in support of the bill. He said encouraging growth of the wind energy industry would have far-reaching effects.<\/p>\n
\u201cOne of the best ways to create economic stability is by harvesting natural resources and selling them to those that need them,\u201d Herink said. \u201cWe need to create an environment that promotes wind energy development.\u201d<\/p>\n
Cherry County rancher Todd Adamson agreed. Developing wind energy is needed for economic development in western Nebraska and most importantly for keeping young people in the area, he said.<\/p>\n
\u201cThis could have as much economic impact on our area as the introduction of the railroad,\u201d Adamson said.<\/p>\n
No one testified in opposition to the bill and the committee took no immediate action on it.<\/p>\n","protected":false},"excerpt":{"rendered":"
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