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SF 2570

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

KEY: stricken = removed, old language.
underscored = added, new language.
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A bill for an act
relating to taxation; modifying the personal property exemption for certain
electric utility generation facilities; amending Minnesota Statutes 2004, section
272.02, subdivision 55.

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

Section 1.

Minnesota Statutes 2004, section 272.02, subdivision 55, is amended to read:


Subd. 55.

Electric generation facility; personal property.

Notwithstanding
subdivision 9, clause (a), attached machinery and other personal property which is part of
an electric generating facility that meets the requirements of this subdivision is exempt. At
the time of construction, the facility must deleted text beginbe sited on an energy park thatdeleted text end (i) deleted text beginis located on
an active mining site, or on a former mining or industrial site where mining or industrial
operations have terminated
deleted text endnew text begin be designated as an innovative energy project as defined in
section 216B.1694
new text end, (ii) deleted text beginisdeleted text end new text beginbe new text endwithin a tax relief area as defined in section 273.134, (iii) deleted text beginhas
deleted text enddeleted text begin on-site deleted text endnew text beginhave new text endaccess to existing railroad infrastructurenew text begin within less than three milesnew text end, new text beginand new text end(iv)
deleted text begin has direct rail access to a Great Lakes port, (v) has sufficient private water resources on
site, and (vi) is
deleted text end new text beginbe new text enddesigned to host at least 500 megawatts of electrical generation.

Construction of the first deleted text begin250deleted text endnew text begin 500new text end megawatts of the facility must be commenced
after January 1, deleted text begin2002deleted text endnew text begin 2006new text end, and before January 1, deleted text begin2005deleted text endnew text begin 2010new text end. Construction of up to an
additional 750 megawatts of generation must be commenced before January 1, deleted text begin2010deleted text endnew text begin
2015
new 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 the day following final enactment.
new text end