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Indiana General Assembly
Senate Bill 0496


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Senate Bill 0496

ARCHIVE (2007)

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Waste to energy tax credits. Allows the Indiana economic development corporation (IEDC) to award a waste to energy tax credit to a taxpayer that makes a qualified investment: (1) necessary to construct or otherwise place in service any waste to energy facility or equipment; or (2) to purchase, deliver, install, convert, or retool a waste to energy facility or equipment. Defines "waste to energy facility or equipment" to include a facility or equipment that is used by the owner of the facility or equipment to produce energy or reclaim energy from a waste resource, regardless of whether the energy produced or reclaimed is sold by the owner of the facility or equipment, used on-site by the owner of the facility or equipment, or otherwise used to provide energy that is used as fuel or used for nonfuel purposes by the owner of the facility or equipment or by another person. Specifies that, for purposes of the tax credit provisions, "waste resource" includes open-loop biomass, closed-loop biomass, municipal solid waste, industrial waste, and any other any organic material from a plant (including corn and soybeans) or agricultural livestock waste nutrients. Provides that to be entitled to a credit, a taxpayer must request the IEDC to determine whether a proposed expenditure is a qualified investment. Requires the request to be made before the taxpayer takes a substantial step in making the qualified investment. Provides that if a taxpayer's proposed expenditure is a qualified investment, the IEDC may award a credit to the taxpayer. Specifies that the IEDC may not award more than: (1) $10,000,000 of credits in a particular taxable year; and (2) $2,000,000 of credits to any one taxpayer for all taxable years. Requires the IEDC and a taxpayer that is awarded a credit to
    Current Status:
     In Committee - first House
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