Iowa House passes sales tax exemption for nuclear energy facilities [Yahoo! Finance]
NextEra Energy, Inc. (NEE)
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Source: Yahoo! Finance
The Iowa House approved a bill Wednesday that would give nuclear energy facilities an exemption on sales and use taxes. House File 2757 , which passed in a 94-1 vote, comes as work is being done to restart a decommissioned nuclear facility in the state — Duane Arnold Energy Center in Palo. The company NextEra Energy plans to make the Duane Arnold Energy Center, which ceased operations in 2020, operational by 2029. The tax exemptions in the bill both apply to projects like the Duane Arnold Energy Center, as well as efforts to start new nuclear energy facilities in Iowa. The original bill did not include an end date for the tax exemptions — meaning sales and use taxes related to personal property, certain digital products and services for nuclear energy facilities would be exempt from taxes indefinitely. The House amended the measure to include a 25-year sunset overall, in addition to stating that once a nuclear facility becomes commercially operational, the facility would no longe
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