COLEMAN WORKS TO CLEAR PATH TO MAKE MINNESOTA CLEAN COAL PLANT ELIGIBLE FOR TAX CREDITS
Citing the need to create a level playing field for the advancement of coal gasification technology, Senator Norm Coleman today was successful in including a provision in the Tax Relief and Health Care Act, soon to be considered on the Senate Floor, that will allow Minnesota's Excelsior Energy project to qualify for federal clean coal tax incentives. Specifically, Coleman's provision changes emission requirements contained in last year's Energy Bill that discriminated against projects like Excelsior that use cleaner, subbituminous coal - blocking their eligibility for new tax incentives.
"My concern is that this would seriously hamper or undermine the Excelsior Energy Project, which is why I've worked for over nine months to find a solution," said Coleman. "Due to a technicality in last year's Energy Bill, Excelsior is unable to utilize clean coal tax credits. Ironically, Excelsior Energy was penalized for doing exactly what we want them to do: create cleaner energy. Excelsior offers us an opportunity for Minnesota to increase domestic energy production, lower the demand for and cost of natural gas, and do so in an environmentally sensitive manner. I am very thankful for the hard work of Congressmen Ramstad and Oberstar in supporting my legislation and pressing for its passage on their side of Capitol Hill."
The Excelsior Energy project is expected to create hundreds of local construction jobs during the three years it takes to build the plant and many permanent high-tech jobs when commercial operations commence. Recently, Senator Coleman was successful in helping Excelsior Energy to secure a $36 million grant from the U.S. Department of Energy to be used in the design and construction of the advanced clean coal plant, which will be located on the Iron Range in northeastern Minnesota.
http://coleman.senate.gov/index.cfm?FuseAction=PressReleases.Detail&PressRelease_id=1172&Month=12&Year=2006