House Bill 670

Committee Chair: Larry O’Neal

Committee:Ways & Means

House Sponsor: Chuck Sims

Chairman O’Neal’s opinion of the legislation:

HB 670 is intended to encourage the development of renewable energy from biomass.  This legislation provides a market for wood residuals which would otherwise be burned or fill up landfills by offering an income tax credit to taxpayers that transport or divert wood residuals to a renewable biomass qualified facility in an amount to be determined on a per tonnage basis.  The facility will provide vouchers to the taxpayer for the purpose of providing bioelectric power to a third party.  This credit will be repealed on January 1, 2013, and in no event can the cumulative total amount of credits exceed $6.5 million.

This bill comes to the House Floor under the Structured Rule.

Further Action

The House agreed to the Senate Substitute as amended by the House, putting the bill back in the form that it left the House. The Senate disagreed, and the House insisted and appointed conferees.