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HB 1228 - Tax Credits for Alternative Energy Projects - South Dakota Key Vote

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See How Your Politicians Voted

Title: Tax Credits for Alternative Energy Projects

Vote Smart's Synopsis:

Vote to override a veto of a bill that authorizes tax refunds for wind energy facilities and upgraded power generation facilities.

Highlights:

  • Authorizes a refund of sales and excise taxes paid by wind energy facilities for wind turbine installation projects if all of the following are true (Sec. 1):
    • The purpose of the project is the creation of electrical energy;
    • The project began on or after January 1, 2013; and
    • The cost of the project will exceed $50 million.
  • Specifies that the amount of the tax refund shall be calculated by multiplying the nameplate capacity of the installed turbines by $45 per kilowatt (Sec. 1).
  • Authorizes a tax refund for power generation facilities that have added an environmental upgrade to an existing facility if all of the following are true (Sec. 2):
    • The construction date of the project is on or after January 1, 2013; and
    • The cost of the project will exceed $50 million.
  • Specifies that the amount of the tax refund shall be 50 percent of the taxes paid for the upgrade project (Sec. 2).
  • Specifies that project costs incurred after January 1, 2017 are not eligible for the refund (Sec. 2).

NOTE: A TWO-THIRDS MAJORITY OF MEMBERS ELECTED IS REQUIRED TO OVERRIDE A GOVERNOR'S VETO.

See How Your Politicians Voted

Title: Tax Credits for Alternative Energy Projects

Vote Smart's Synopsis:

Vote to concur with Senate amendments and pass a bill that authorizes tax refunds for wind energy facilities and upgraded power generation facilities.

Highlights:

  • Authorizes a refund of sales and excise taxes paid by wind energy facilities for wind turbine installation projects if all of the following are true (Sec. 1):
    • The purpose of the project is the creation of electrical energy;
    • The project began on or after January 1, 2013; and
    • The cost of the project will exceed $50 million.
  • Specifies that the amount of the tax refund shall be calculated by multiplying the nameplate capacity of the installed turbines by $45 per kilowatt (Sec. 1).
  • Authorizes a tax refund for power generation facilities that have added an environmental upgrade to an existing facility if all of the following are true (Sec. 2):
    • The construction date of the project is on or after January 1, 2013; and
    • The cost of the project will exceed $50 million.
  • Specifies that the amount of the tax refund shall be 50 percent of the taxes paid for the upgrade (Sec. 2).
  • Specifies that project costs incurred after January 1, 2017 are not eligible for the refund (Sec. 2).

See How Your Politicians Voted

Title: Tax Credits for Alternative Energy Projects

Vote Smart's Synopsis:

Vote to pass a bill that authorizes tax refunds for wind energy facilities and upgraded power generation facilities.

Highlights:

  • Authorizes a refund of sales and excise taxes paid by wind energy facilities for wind turbine installation projects if all of the following are true (Sec. 1):
    • The purpose of the project is the creation of electrical energy;
    • The project began on or after January 1, 2013; and
    • The cost of the project will exceed $50 million.
  • Specifies that the amount of the tax refund shall be calculated by multiplying the nameplate capacity of the installed turbines by $45 per kilowatt (Sec. 1).
  • Authorizes a tax refund for power generation facilities that have added an environmental upgrade to an existing facility if all of the following are true (Sec. 2):
    • The construction date of the project is on or after January 1, 2013; and
    • The cost of the project will exceed $50 million.
  • Specifies that the amount of the tax refund shall be 50 percent of the taxes paid for the upgrade (Sec. 2).
  • Specifies that project costs incurred after January 1, 2017 are not eligible for the refund (Sec. 2).

Title: Tax Credits for Alternative Energy Projects

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