HB 150 RENEWABLE ENERGY PRODUCTION TAX ACT

Rep John Block

Actions: [2] HENRC/HTRC-HENRC

Scheduled: Not Scheduled

 House Bill 150 (HB 150) enacts the Renewable Energy Production Tax Act. HB 150 imposes an excise tax on electricity created by natural resources and distributes the tax to the Severance Tax Permanent Fund. 

 House Bill 150 (HB 150) enacts the Renewable Energy Production Tax Act. The bill imposes the Renewable Energy Production Tax, an excise tax of 3.75% of the taxable value of each megawatt-hour of electricity generated from renewable energy resources in the state. Renewable energy resources include solar, wind, hydropower, geothermal, or biomass.

HB 150 exempts the tax if electricity from renewable sources is produced by federal, state, Indian nation, tribe, or pueblo governments, or foreign nations. Generated electricity for personal use is exempted if unused, excess electricity does not exceed 500 kilowatt-hours in a 24-hour period.

Revenue from the tax is to be distributed to the Severance Tax Permanent Fund.

HB 150 is effective and applies to electricity produced beginning in 2025.