SF 578

as introduced - 92nd Legislature (2021 - 2022) Posted on 03/26/2021 10:06am

A bill for an act
relating to taxation; property; modifying the calculation for wind energy and solar
energy production tax; proposing coding for new law in Minnesota Statutes, chapter
272.

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

Section 1.

new text begin [272.0285] DEPRECIATION CALCULATION.
new text end

new text begin Subdivision 1. new text end

new text begin Calculation. new text end

new text begin For purposes of Minnesota Rules, part 8100.0500, subpart
3, depreciation for wind and solar energy conversion systems qualifying as exempt property
and placed in service or repowered after December 31, 2019, shall be calculated using the
actual depreciation for those systems as stated on the books and records of the utility.
new text end

new text begin Subd. 2. new text end

new text begin Rulemaking. new text end

new text begin The commissioner of revenue shall amend Minnesota Rules, part
8100.0500, subpart 3, to conform with subdivision 1. The commissioner may use the good
cause exemption under section 14.388, subdivision 1, clause (3), to adopt rules under this
section, and section 14.386, does not apply, except as provided under section 14.388.
new text end

new text begin EFFECTIVE DATE. new text end

new text begin This section is effective the day following final enactment.
new text end