HF 2001

as introduced - 83rd Legislature (2003 - 2004) Posted on 12/15/2009 12:00am

  1.1                          A bill for an act 
  1.2             relating to taxation; property; providing that certain 
  1.3             personal property of an electric generation facility 
  1.4             is exempt from property taxation; amending Minnesota 
  1.5             Statutes 2002, section 272.02, by adding a subdivision.
  1.6   BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA: 
  1.7      Section 1.  Minnesota Statutes 2002, section 272.02, is 
  1.8   amended by adding a subdivision to read: 
  1.9      Subd. 68.  [ELECTRIC GENERATION FACILITY; PERSONAL 
  1.10  PROPERTY.] Notwithstanding subdivision 9, clause (a), attached 
  1.11  machinery and other personal property which is part of a 
  1.12  simple-cycle, combustion-turbine electric generation facility 
  1.13  that exceeds 300 megawatts of installed capacity and that meets 
  1.14  the requirements of this subdivision is exempt.  At the time of 
  1.15  the construction, the facility must: 
  1.16     (1) be designed to utilize natural gas as a primary fuel; 
  1.17     (2) be owned by a public utility as defined in section 
  1.18  216B.02, subdivision 4, and be located at or interconnected with 
  1.19  an existing generating plant of the utility; 
  1.20     (3) be designed to provide peaking, emergency backup, or 
  1.21  contingency services; and 
  1.22     (4) satisfy a resource need identified in an approved 
  1.23  integrated resource plan filed under section 216B.2422. 
  1.24     Construction of the facility must be commenced after 
  1.25  January 1, 2004, and before January 1, 2005.  Property eligible 
  2.1   for this exemption does not include electric transmission lines 
  2.2   and interconnections or gas pipelines and interconnections 
  2.3   appurtenant to the property or the facility. 
  2.4      [EFFECTIVE DATE.] This section is effective beginning with 
  2.5   assessment year 2005, for taxes payable in 2006 and thereafter.