Vote Smart's Synopsis:

Vote to pass a bill that establishes incentive payments for the construction of wind energy facilities, effective immediately.

Highlights:

• Establishes incentive payments for the construction of wind energy facilities (Sec. 7).

• Requires individuals who apply for incentive payments for the construction of a wind energy facility to submit their application no earlier than 90 days before the construction date or no later than 90 days after the construction date (Sec. 3).

• Requires individuals seeking an incentive payment for the construction of a wind energy facility to file an affidavit within 6 months of the project’s completion with the Department of Revenue (Sec. 6).

• Limits the number of wind energy construction projects that may be included on each affidavit for an incentive payment to 1 project (Sec. 5).

• Requires the Department of Revenue to provide certain incentive payments based on the final construction costs for wind energy construction projects including, but not limited to, the following incentive payments (Sec. 7):
• $100,000 if the final production cost is between $5 million and $7.5 million;
• $400,000 if the final production cost is between $20 million and $25 million;
• $800,000 if the final production cost is between $40 million and $50 million; or
• 2 percent of the final production cost if the final production cost is $100 million or more.

• Prohibits project costs that occur 3 or more years after the construction date from being included in the final production cost calculation for an incentive payment (Sec. 6).

• Prohibits individuals who receive an incentive payment for a wind energy construction project from receiving any other refund, incentive payment, lower tax rate, or other incentive from the Department of Revenue for the same project (Sec. 9).

• Prohibits an individual from receiving any other rebate relating to the construction of transmission lines or wind farm collector systems if the wind farm does not generate electricity until April 1, 2013 (Sec. 15).

Full Bill Text