Oregon lawmakers are trying again to scale back tax credits for renewable energy projects. Governor Ted Kulongoski vetoed their first attempt last year.
The Oregon House approved a new version of the bill Wednesday and this time, the governor’s on board. Chris Lehman reports.
The Business Energy Tax Credit has been around since the late 70’s but three years ago lawmakers sweetened the deal.
They wanted to entice more renewable energy companies to invest in the state.
In that sense, it worked. But it ended up giving away more than lawmakers expected.
This measure would cap the credit, and save the state an estimated $55 million in the current budget.
Republican Representative Vicki Berger says it was a case of unintended consequences.
Vicki Berger: “We are on the map in terms of this kind of technology, which is a very good thing. But we do need to be sensitive to the fact that it can run away with our budget.”
The bill required approval by a three-fifths majority since scaling back a credit is considered a tax increase.It passed 59-to-1.
Governor Kulongoski issued a statement saying he’d sign the bill if it clears the Senate.
Chris Lehman, OPB News – http://news.opb.org/article/6706-house-approves-scaled-back-green-tax-credits/