SF 2079

as introduced - 86th Legislature (2009 - 2010) Posted on 02/09/2010 11:34pm

A bill for an act
relating to taxation; providing a property tax exemption for personal property
of an electric generation facility; amending Minnesota Statutes 2008, section
272.02, by adding a subdivision.

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

Section 1.

Minnesota Statutes 2008, section 272.02, is amended by adding a
subdivision to read:

new text begin Subd. 90. 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 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:
new text end

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

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

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

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

new text begin Construction of the facility must be commenced after January 1, 2010, and
before January 1, 2014. 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 for assessments in 2011, taxes
payable in 2012, and thereafter.
new text end