HF 600

as introduced - 84th Legislature (2005 - 2006) Posted on 12/15/2009 12:00am

A bill for an act
relating to taxation; property; providing that certain
personal property of an electric generation facility
is exempt from property taxation; amending Minnesota
Statutes 2004, section 272.02, by adding a subdivision.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:

Section 1.

Minnesota Statutes 2004, section 272.02, is
amended by adding a subdivision to read:

new text begin Subd. 68. new text end

new text begin Electric generation facility; personal
property. new text end

new text begin Notwithstanding subdivision 9, clause (a), attached
machinery and other personal property which is part of a
simple-cycle, combustion-turbine electric generation facility
that exceeds 300 megawatts of installed capacity and that meets
the requirements of this subdivision is exempt. At the time of
the construction, the facility must:
new text end

new text begin (1) be designed to utilize natural gas as a primary fuel;
new text end

new text begin (2) be owned by a public utility as defined in section
216B.02, subdivision 4, and be located at or interconnected with
an existing generating plant of the utility;
new text end

new text begin (3) be designed to provide peaking, emergency backup, or
contingency services;
new text end

new text begin (4) satisfy a resource need identified in an approved
integrated resource plan filed under section 216B.2422; and
new text end

new text begin (5) have received, by resolution, the approval from the
governing body of the county and the city for the exemption of
personal property under this subdivision.
new text end

new text begin Construction of the facility must be commenced after
January 1, 2004, and before January 1, 2005. Property eligible
for this exemption does not include electric transmission lines
and interconnections or gas pipelines and interconnections
appurtenant to the property or the facility.
new text end

new text begin EFFECTIVE DATE. new text end

new text begin This section is effective beginning with
assessment year 2005, for taxes payable in 2006 and thereafter.
new text end