3rd Sub.
S.B.
65
ALTERNATIVE ENERGY DEVELOPMENT TAX INCENTIVES
House Floor
Amendments
Amendment 2 March 8, 2012 11:01 AM
Representative Michael E. Noel proposes the following amendments:
1. Page 92, Lines 2819 through 2836
Senate 3rd Reading Amendments
2-29-2012 :
2819 (3) (a) Subject to Subsection (3)
{
(c)
}
(b)
, if the office expects that the time from the
2820 commencement of construction until the end of the economic life of the alternative energy
2821 project is
{
less than 50 years
}
20 years or more
:
2822 (i) the office shall grant a tax credit for the lesser of:
2823 (A) the economic life of the alternative energy project; or
2824 (B) 20 years; and
2825 (ii) the tax credit is equal to 75% of new state revenues generated by the alternative
2826 energy project.
2827
{
(b) Subject to Subsection (3)(c), if the office expects that the time from the
2828 commencement of construction until the end of the economic life of the alternative energy
2829 project is 50 years or more:
2830 (i) the office shall grant a tax credit for the lesser of:
2831 (A) the economic life of the alternative energy project; or
2832 (B) S. [30] 25 .S years; and
2833 (ii) the tax credit is equal to 75% of new state revenues generated by the alternative
2834 energy project. }
2835
{
(c)
}
(b)
For a taxable year, a tax credit under this section may not exceed the new state
2836 revenues generated by an alternative energy project during that taxable year.
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