Enhancing Hydroelectricity/River Restoration: Federal Tax Credit Legislation Introduced
July 01, 2021
By:
Walter G. Wright
Category:
Arkansas Environmental, Energy, and Water Law
Arkansas Environmental, Energy, and Water Law
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Senators Maria Cantwell (D-WA) and Senator Lisa Murkowski (R-AK) introduced legislation titled:
Maintaining Baseload Hydroelectricity and River Restoration Act of 2021
The legislation is denominated S.2036.
S.2036 would provide a 30% federal Investment Tax Credit that would be applicable to:
- Grid resilience
- Dam safety upgrades
- Environmental enhancements at existing hydropower facilities
- Removal of obsolete dams
A direct pay option would be provided for public power.
Key definitions in S.2036 describe the eligible activities that include:
- Dam safety property
- Environmental improvement property
- Grid resilience property
A copy of S.2036 can be found here and a section-by-section analysis of the legislation can be found here.
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