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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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