Rules move ahead on renewable energy credits

While President Bush called for building new nuclear power plants today, the implementation of new Iowa laws that give state tax credits for wind and renewable energy are moving forward. Iowa Utilities Board spokesman Rob Hillesland says the board approved preliminary rules for the credits Tuesday — less than one week after the governor signed the House and Senate bills into law. He says the laws are financial incentives for developing the renewable energy, and that’s why the board adopted the rules so quickly. Hillesland says people are anxious to sign up for the credits. He says Board had already received lots of questions about how to go about the process, so they put the preliminary rules in place. Hillesland says the Utilities Board is taking public comment on the new rules through August 9th. He says any comments could lead to changes in the rules. Hillesland says companies can now begin the application process for the credits. He says the Board has 30 days from receiving the complete application to make a preliminary ruling on whether the facility will be eligible for the state credits. Hillesland says the credits cover new facilities put in service after July 1st of this year and before January 1st of 2011. For more information, surf to the Utilities Board website at:www.state.ia.us/iub.