The Iowa Senate has overwhelmingly approved a bill that seeks to expand state tax credits for small-scale wind turbines. Senator Rob Hogg, a Democrat from Cedar Rapids, said the bill helps Iowa maintain its leadership role in the wind energy industry.
“It targets the ownership structures that are most advantageous to Iowa’s local economy by helping small farm organizations, small businesses across our state, school districts and others take advantage of this small wind tax credit program for projects up to 2.5 megawatts,” Hogg says.
An estimated $64 million worth of state tax credits would be granted over the next decade if the bill becomes law. Senator Mark Chelgren, a Republican from Ottumwa, expressed reservations about the proposal, as energy companies buy and sell tax credits from other states, like California.
“It just kind of seems like a slimy process and so I’m concerned that we’re giving money that’s being transferred and sold at a reduced rate,” Chelgren said, “and it’s the taxpayers’ money, after all.”
AUDIO of Senate debate of the bill.
The bill passed the Iowa Senate on a 41-9 vote and goes to the House for consideration.