Idaho House Committee Prints Nuclear Power Tax Incentive Bills

By Carlson, Brad

Two proposed tax incentives that would benefit the nuclear power industry cleared the first hurdle in the Idaho Legislature this morning.

The House Revenue and Taxation Committee voted to print proposals brought by Tim Solomon, executive director of the Regional Development Alliance in Idaho Falls.

The first proposal would exempt processing materials used for the production of energy from sales and use tax. The second proposal would cap net the taxable property value at $400 million for projects that involve an investment of $1 billion or more within seven years.

Eastern Idaho has an opportunity to attract French nuclear services company Areva, but the energy production-exemption proposal would create opportunity for greater investment statewide, Solomon told committee members.

Rep. Wendy Jaquet, D-Ketchum, said more information about fiscal impact will be needed when the committee considers the energy production-exemption bill, scheduled for Feb. 28.

Rep. Nicole LeFavour, D-Boise, said both proposals raise concerns about the safety of moving nuclear materials into Idaho and eventually storing them.

Committee Chairman Rep. Dennis Lake, R- Blackfoot, said that when the committee discusses the bills, the discussion will relate to tax policy, not the pros and cons of nuclear energy.

Credit: Brad Carlson

(Copyright 2008 Dolan Media Newswires)

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