BILL REQ. #: H-5260.2
| State of Washington | 60th Legislature | 2008 Regular Session |
READ FIRST TIME 02/05/08.
AN ACT Relating to promoting renewable energy in Washington; and adding a new chapter to Title 80 RCW.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF WASHINGTON:
NEW SECTION. Sec. 1 The legislature finds and declares that the
potential for meeting future energy needs and promoting energy
independence in the state and the Pacific Northwest region through the
generation of electricity from renewable energy facilities may not be
realized without incentives to consumer-owned utilities.
Not-for-profit entities, including consumer-owned utilities, are not
eligible for federal tax credits available to for-profit owners of
renewable energy projects. Although the federal government offers
incentives to certain not-for-profit entities under the federal
renewable energy production incentive program there are insufficient
funds to fully realize the potential benefit of this incentive for
public power systems and other not-for-profit utilities. Given the
emphasis and recognized need for renewable energy resources under
chapter 1, Laws of 2007 and other state laws, the legislature therefore
finds and declares that incentives by state government to promote the
use of renewable resources would be of great benefit to the citizens of
this state by encouraging a reliable and diverse supply of energy based
upon renewable energy resources, by providing economic benefits for
Washington citizens by creating high-quality jobs, and by positioning
Washington state as a national leader in renewable energy technologies.
NEW SECTION. Sec. 2 The definition in this section applies
throughout this chapter unless the context clearly requires otherwise.
"Qualified renewable energy facility" means a qualified renewable
energy facility that is eligible for the renewable energy production
incentive under 42 U.S.C. Sec. 13317 as of August 8, 2005.
NEW SECTION. Sec. 3 Subject to the availability of amounts
appropriated for this specific purpose, the state shall make payments
to the owner of any qualified renewable energy facility as provided
under section 4 of this act. The state shall make payments to the
owner of a qualified renewable energy facility only for the duration
that the facility is eligible to receive federal renewable energy
production incentive payments as provided under 42 U.S.C. Sec. 13317 as
of August 8, 2005. If a facility is currently in operation as of the
effective date of this section, the state shall make payments to the
owner of a qualified renewable energy facility for the remaining time
the facility is eligible to receive federal renewable energy production
incentive payments as provided under 42 U.S.C. Sec. 13317 as of August
8, 2005.
NEW SECTION. Sec. 4 Payments made by the state under this
chapter to the owner of any qualified renewable energy facility must be
based on the number of kilowatt hours of electricity generated by the
facility during the payment period referred to under section 3 of this
act. For any facility, the amount of such a payment is one and one-half cents per kilowatt hour adjusted for inflation as provided under
42 U.S.C. Sec. 13317 as of August 8, 2005, reduced by the amount
received from the federal government under 42 U.S.C. Sec. 13317 for the
same time period.
NEW SECTION. Sec. 5 If any provision of this act or its
application to any person or circumstance is held invalid, the
remainder of the act or the application of the provision to other
persons or circumstances is not affected.
NEW SECTION. Sec. 6 This act may be known and cited as the
renewable energy incentive act.
NEW SECTION. Sec. 7 Sections 1 through 6 of this act constitute
a new chapter in Title