SB 379 – Modifies provisions relating to the taxation of property associated with the production of energy

• Sponsor: O'Laughlin
• LR Number: 0841S.01I
• Committee: Commerce, Consumer Protection, Energy and the Environment
• Last Action: 3/31/2021 - Hearing Conducted S Commerce, Consumer Protection, Energy and the Environment Committee
• Effective Date: August 28, 2021

Current Bill Summary

SB 379 - Beginning January 1, 2022, this act provides a depreciation table for the purposes of assessing all real and tangible personal property associated with a project that uses wind energy directly to generate electricity. Such depreciation percentages range from 40% in the first year following construction of the property to 35% in the fifth year following construction of the property and each year thereafter.

This act is identical to HB 2454 (2020) and to provisions contained in HCS/SCS/SB 616 (2020), and is substantially similar to HCS/HB 845 (2021) and to provisions contained in SCS/HB 488 (2021), CCS/SS/SCS/HCS/HB 734 (2021), and HCS/HB 835 (2021).

JOSH NORBERG

Amendments

No Amendments Found.