House endorses tax to encourage wind development
The Vermont House has endorsed a new policy that advocates say would encourage development of wind energy projects.
The policy would tax the wind generators based on the amount of power they produce instead of taxing them on their fair-market value as real estate.
Advocates say that makes their annual tax predictable and makes financing of the projects easier.
They do argue with the rate set by the House. Lawmakers set it at a half-penny for every kilowatt hour produced. But advocates say it should be a third of a penny. The renewable energy bill containing the wind tax won preliminary approval today and is due for final debate in the House tomorrow.
Then it will be taken up in the Senate, where advocates hope to lower the tax rate.
April 5, 2007
in WCAX-TV
The Vermont House has endorsed a new policy that advocates say would encourage development of wind energy projects.
The policy would tax the wind generators based on the amount of power they produce instead of taxing them on their fair-market value as real estate.
Advocates say that makes their annual tax predictable and makes financing of the projects easier.
They do argue with the rate set by the House. Lawmakers set it at a half-penny for every kilowatt hour produced. But advocates say it should be a third of a penny. The renewable energy bill containing the wind tax won preliminary approval today and is due for final debate in the House tomorrow.
Then it will be taken up in the Senate, where advocates hope to lower the tax rate.
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