Unicameral Supports Wind Development - Center for Rural Affairs applauds passage of LB 423
Lyons, NE - Nebraska Senators passed LB 423, legislation providing tax credits to renewable energy projects that return profit to Nebraska communities, on it’s first reading by a vote of 25 to 3. The bill now advances to Select File for its second reading.
“Today, the Unicameral made a strong statement in support of renewable energy and rural economic development in Nebraska,” said Virginia Meyer, Rural Organizer with the Center for Rural Affairs.
“Nebraskans want and deserve an energy future that prioritizes investment in home-grown resources. LB 423 invests in energy development the fulfills that commitment while helping to create good jobs and new tax revenue, while keeping hard-earned energy dollars closer to home.” - Virginia Meyer, Center for Rural Affairs
According to Meyer, Nebraska has some of the best wind energy resources in the nation, yet, wind energy only accounts for 4.8% of Nebraska’s energy generation. Wind power is capable of meeting 118 times Nebraska’s current electricity needs, but the state still relies on imports to meet demands for electricity. LB 423 invests in a better, more renewable and sustainable energy future for the state.
“By providing tax credits for renewable energy projects that with at least 25 percent investment in Nebraska resources, LB 423 focuses on projects that are community based, bringing more of the economic benefit of renewable energy development back to Nebraska communities,” Meyer continued. “The bill supports renewable energy projects that are built in a way that benefits small towns and rural communities the most. And renewable energy projects - including solar projects - would qualify for the tax credit, pushing these projects forward across the state.”