In 2013, we were able to work with our client, The Wind Coalition successfully with the passage of LB 104. LB 104 put wind energy on an even field with many other industries and investments in Nebraska, by adding renewable energy projects to the Nebraska Advantage Act. This eligibility removes the investment barrier of sales taxes on inputs, so that qualified investments can receive 100% sales tax rebates.
Quick Summary of LB 104 As Passed – How It Impacts Renewable Energy Production Facilities
LB 104 amends the Nebraska Advantage Act, adding language so that the production of electricity by using renewable energy to produce electricity for sale is now eligible to receive sales tax rebates as prescribed in the Act. Renewable energy production includes wind, solar, geothermal, hydroelectric, biomass, and transmutation of elements.
It is anticipated that all renewable energy production facility projects eligible under the Nebraska Advantage Act would fall under Tier 5 of the Act. Tier 5 currently requires an investment in qualified property of at least $30 million dollars. LB 104 adds language under Tier 5 so that the renewable energy production facility projects would only require an investment in qualified property of at least $20 million dollars.