SF3290 Summary

• Modifies the renewable development account to increase annual transfers from nuclear plant owners, starting January 15, 2019 with $23,000,000 and adjusting amounts through 2022 and thereafter.

• Establishes the Prairie Island Net Zero Project with $3,000,000 to $9,000,000 in annual appropriations from fiscal years 2019-2024 to fund renewable energy projects benefiting the Prairie Island Indian Community.

• Creates a biomass business compensation program administered by the Office of Administrative Hearings to compensate businesses negatively affected by early termination of a biomass power purchase agreement, with $40,000,000 transferred from the renewable development account.

• Allows eligible businesses that supplied materials to or received materials from the biomass plant to claim compensation for decreased operating income (calculated as two times the annual loss) or loss of property investment value, offset by salvage value and insurance proceeds.

• Program expires June 30, 2021; businesses must file claims within 60 days of plant closure, with final awards issued within 180 days.