MN HF3641

Modifies Minnesota Statutes 2008, section 216B.1612 to amend the community-based energy development (C-BED) program by changing the definition of "qualifying owner beneficiary" and expanding eligible entities.

Expands qualifying beneficiaries to include Minnesota nonprofits under chapter 317A, cooperatives under chapters 308A or 308B, local governments, tribal councils, and legal entities formed to participate in C-BED projects with principal place of business in Minnesota.

Excludes public utilities as defined in section 216B.02, subdivision 4 from being qualifying beneficiaries for C-BED projects.

Establishes discount rate as ten-year United States Treasury Yield plus five percent (or plus eight percent if contingent upon equity investor earning specified internal rate of return) for net present value calculations of C-BED project revenues.

Requires C-BED project developers to obtain eligibility determinations from the commissioner of commerce based on net present value analysis demonstrating at least 51 percent of gross revenues flow to qualifying beneficiaries.