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SF 1909

as introduced - 88th Legislature (2013 - 2014) Posted on 03/04/2014 09:51am

KEY: stricken = removed, old language.
underscored = added, new language.
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Current Version - as introduced

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A bill for an act
 relating to taxation; property; providing a property tax exemption for personal
property of an electric generation facility; amending Minnesota Statutes 2012,
section 272.02, subdivision 93.

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

Section 1.

Minnesota Statutes 2012, section 272.02, subdivision 93, is amended to read:


Subd. 93.

Electric generation facility; personal property.

Notwithstanding
subdivision 9, clause (a), attached machinery and other personal property that is part of
a simple-cycle electric generation facility of more than 40 megawatts and less than 125
megawatts of installed capacity and that meets the requirements of this subdivision is
exempt. At the time of construction, the facility must:

(1) utilize natural gas as a primary fuel;

(2) be located within two miles of parallel existing 36-inch natural gas pipelines and
an existing 115-kilovolt high-voltage electric transmission line;

(3) be designed to provide peaking, emergency backup, or contingency services;

(4) satisfy a resource deficiency identified in an approved integrated resource plan
filed under section 216B.2422; and

(5) have an agreement with the host county, township, and school district for
payment in lieu of personal property taxes to the host county, township, and school district
for the operating life of the facility. Any amount distributed to the school district is not
subject to the deductions under section 126C.21.

Construction of the facility must be commenced after January 1, deleted text begin 2010deleted text end new text begin 2015new text end , and
before January 1, deleted text begin 2014deleted text end new text begin 2019new text end . 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 begin EFFECTIVE DATE. new text end

new text begin This section is effective for assessments in 2015, taxes
payable in 2016, and thereafter.
 new text end