• Home
  • News
    • Politics & Government
    • Business & Economy
    • Crime / Courts
    • Health / Medicine
  • Sports
    • High School Sports
    • Radio Iowa Poll
  • Affiliates
    • Affiliate Support Page
  • Contact Us
    • Reporters

Radio Iowa

Iowa's Radio News Network

You are here: Home / Bill would give break for wind turbines

Bill would give break for wind turbines

March 11, 2005 By admin

Iowans who buy a wind turbine might be eligible for a state tax break if a bill making its way through the legislature becomes law. Senator Joel Bolkcom, a democrat from Iowa City, says the idea is to help Iowans who want to buy a small turbine, but can’t make the project cash flow. “It provides for local ownership by small investors, farmers, local businesses, and it’s going to keep the money that’s generated from that electricity in rural Iowa,” Bolkcom says. The bill would grant a tax credit worth one-and-a-half cents for every kilowatt the turbine produces. The credits would be open on a first come, first served basis, as there’ll be up to six-million dollars set aside for the credits. Bolkcom says the tax credit will help people line up a bank loan and a contract with a utility company to sell the power the turbine would generate — because the projects will “cash flow” with the tax credit. Iowa currently ranks as the nation’s 4th largest producer of wind energy. Bolkcom says Iowa has a “wind ridge” but also benefits from public policy, like the proposed tax credit. “You’ve got to have good public policy to move these things,” he says. Bolkcom cites South Dakota as an example, as that state has plenty of potential in generating energy from the wind, but ranks near the bottom of the 50 states in wind energy production. The bill has cleared the Senate Natural Resources Committee but must win the approval of the Senate Ways and Means tax-writing Committee before it can be considered by the full Senate.

Share this:

  • Facebook
  • Twitter

Filed Under: Uncategorized Tagged With: Legislature, Taxes, Utilities

Featured Stories

Testing finds 21 new CWD cases in deer

It may become a crime in Iowa to use fake urine in workplace drug tests

February trending 18 degrees below average temperature

Iowa House Education Committee votes to end tenure at UI, ISU, UNI

Man convicted of two Muscatine County murders dies in prison

TwitterFacebook
Tweets by RadioIowa

Key stretch begins for #9 Iowa

Drake’s Roman Penn lost for the season

Drake’s DeVries named to Naismith watch list

State wrestling opens with limited attendance

Iowa’s Wieskamp is B1G Player of the Week

More Sports

eNews and Updates

Enter your email address:

Delivered by FeedBurner

Archives

Copyright © 2021 ยท Learfield News & Ag, LLC