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House approves interlocal change to allow new ownership for a third Intermountain Power unit
Summary
Lawmakers considered first substitute Senate Bill 29 to amend the Interlocal Cooperation Act so a new taxable umbrella entity can be created for a proposed third unit of the Intermountain Power Project; sponsors said it preserves tax status for existing units and would yield construction and ongoing revenues.
Representative Styler explained the substitute to Senate Bill 29, describing a technical change to the Interlocal Cooperation Act to accommodate different ownership for a proposed third unit of the Intermountain Power Project. He said units 1 and 2 would remain taxable as required, while a new umbrella organization would be created to allow non-taxable entities such as UAMPS to participate in unit 3 while preserving tax treatment.
Styler supplied projected fiscal figures tied to the project's construction and operation: about $16 million per year in fees in lieu of property tax under the proposed structure, approximately $8 million in gross-receipts tax during construction, and about $45 million in sales and use tax on components during construction. He also projected roughly 50 permanent jobs and substantial construction employment. Some representatives said the bill was technical and late but supported it on policy grounds to increase in-state generation and economic stimulus; others expressed frustration with the complexity and timing but ultimately moved the measure to a vote.
The floor proceeded to vote; the transcript records voting was opened and later closed, with the item referred to the Senate for signature in the journaled process. Public comment on process and constituent concerns was noted.
