(REPRINTED WITH ADOPTED AMENDMENTS)

 

Senate Bill No. 273–Senator Rhoads

 

March 2, 2001

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Referred to Committee on Taxation

 

SUMMARY¾Exempts from local school support tax and certain analogous taxes certain systems designed or adapted to use renewable energy to generate electricity. (BDR 32‑641)

 

FISCAL NOTE:  Effect on Local Government: Yes.

                             Effect on the State: Yes.

 

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EXPLANATION – Matter in bolded italics is new; matter between brackets [omitted material] is material to be omitted.

 

AN ACT relating to taxation; exempting from the local school support tax and certain analogous taxes certain systems designed or adapted to use renewable energy to generate electricity; and providing other matters properly relating thereto.

 

THE PEOPLE OF THE STATE OF NEVADA, REPRESENTED IN

SENATE AND ASSEMBLY, DO ENACT AS FOLLOWS:

 

1-1    Section 1. Chapter 374 of NRS is hereby amended by adding thereto a

1-2  new section to read as follows:

1-3    1.  There are exempted from the taxes imposed by this chapter the

1-4  gross receipts from the sale of, and the storage, use or other consumption

1-5  in this state of, any product or system designed or adapted to use

1-6  renewable energy to generate electricity and all of its integral

1-7  components.

1-8    2.  As used in this section:

1-9    (a) “Biomass” means any organic matter that is available on a

1-10  renewable basis, including, without limitation:

1-11      (1) Agricultural crops and agricultural wastes and residues;

1-12      (2) Wood and wood wastes and residues;

1-13      (3) Animal wastes;

1-14      (4) Municipal wastes; and

1-15      (5) Aquatic plants.

1-16  (b) “Fuel cell” means a device or contrivance that, through the

1-17  chemical process of combining ions of hydrogen and oxygen, produces

1-18  electricity and water.

1-19  (c) “Renewable energy” means a source of energy that occurs

1-20  naturally or is regenerated naturally, including, without limitation:

1-21      (1) Biomass;

1-22      (2) Fuel cells;

2-1       (3) Geothermal energy;

2-2       (4) Solar energy;

2-3       (5) Waterpower; and

2-4       (6) Wind.

2-5  The term does not include coal, natural gas, oil, propane or any other

2-6  fossil fuel, or nuclear energy.

2-7    (d) “System designed or adapted to use renewable energy to generate

2-8  electricity” means a system of related components:

2-9       (1) From which at least 75 percent of the electricity generated is

2-10  produced from one or more sources of renewable energy; and

2-11      (2) That is designed to work as an integral package such that the

2-12  system is not complete without one of its related components.

2-13  Sec. 2.  NRS 374.265 is hereby amended to read as follows:

2-14  “Exempted from the taxes imposed by this chapter,” as used in NRS

2-15  374.265 to 374.355, inclusive, and section 1 of this act, means exempted

2-16  from the computation of the amount of taxes imposed.

2-17  Sec. 3.  1.  This section become effective on July 1, 2001.

2-18  2.  Sections 1 and 2 of this act become effective on July 1, 2001, for the

2-19  purpose of adopting regulations and on January 1, 2002, for all other

2-20  purposes.

2-21  3.  This act expires by limitation on June 30, 2003.

 

2-22  H