HB4664 Summary: Intergovernmental Cooperation Renewable Energy Act

• Creates a new framework allowing two or more governmental units to form joint action agencies through intergovernmental agreements to develop waste disposal facilities and renewable energy sources including waste-to-energy conversion.

• Agencies organized under the act function as local government units with powers to plan, finance, construct, own, operate, and maintain eligible renewable energy and waste disposal projects, including authority to issue bonds payable from enterprise revenues.

• Establishes agency governance structure with a board of directors selected by member governmental units, officers including presiding officer and treasurer, and authority to adopt bylaws governing operations and membership.

• Grants agencies eminent domain powers to acquire property for projects, but prohibits takings of property owned by public agencies or electric cooperatives involved in power generation or distribution.

• Requires agencies to allocate 2% of total net enterprise revenues for educational purposes to schools or educational institutions in member governmental unit areas, and exempts agency property from property taxes while requiring payments in lieu of taxes.