Nebraska State Senators have advanced legislation that is written to provide for a production tax credit for wind farms and solar projects. The Nebraska Farmers Union supports the bill, and President John Hansen says the tax credit is one cent for every kilowatt hour produced. It will then decline progressively every two years for ten years.
He says the tax credit is for projects that meet community based standards and will help spur economic development to several rural communities in Nebraska.
It’s estimated that the tax credit will provide about $3 million after two years and will rise to $14 million, then $17 million a year after four years.
