HB 2290 Summary

• Extends the deadline for qualifying renewable energy generators to begin production from January 1, 2021 to January 1, 2031.

• Increases tax credit rates for renewable energy production beginning January 1, 2021: $.04 per kilowatt-hour for wind and biomass (up from $.01), and $.04 per kilowatt-hour for solar (constant rate, previously tiered from $.01 to $.04).

• Reduces the per-facility annual credit cap from $2,000,000 to $200,000 for calendar years beginning January 1, 2021 and later.

• Maintains the aggregate statewide tax credit limit of $20,000,000 per calendar year and the first-come, first-served application process administered by the department.

• Applies changes to both individual income tax credits (§43-1083.02) and corporate income tax credits (§43-1164.03).