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MN HF1772
Bill
Status
3/3/2025
Primary Sponsor
Scott Van Binsbergen
Click for details
AI Summary
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Establishes a claims process through the Office of Administrative Hearings to compensate Minnesota businesses negatively affected by the early termination of a biomass plant's power purchase agreement
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Eligible businesses must have had a contract (written or oral) as of May 1, 2017 with the biomass plant or integrated fertilizer plant, and suffered decreased operating income or loss of property investment value
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Compensation awards for lost operating income are capped at two times the difference between the five-year average income before termination and post-termination income; property loss awards must deduct salvage/scrap value
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Creates a biomass business compensation account funded by $40 million total ($20 million on July 1, 2025 and $20 million on July 1, 2026) transferred from the renewable development account
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Application process must be available by August 1, 2025, with claims due within 60 days; preliminary awards within 120 days of the filing deadline; program expires June 30, 2027
Legislative Description
Process established to compensate businesses for loss of business opportunity resulting from sale and closure of a biomass energy plant.
Last Action
Introduction and first reading, referred to State Government Finance and Policy
3/3/2025