(The Center Square) – A group of Wisconsin lawmakers have proposed a series of laws to create tax credits for new nuclear power facilities.
One bill would create an energy tax credit for nuclear facilities that go online after 2030 and another would create up to five years of tax credit for construction materials to build a facility.
“Wisconsin needs more power,” said Sen. Dan Feyen, R-Fond du Lac. “We are currently a net importer of energy, consuming six times more power than we can produce. With demand for energy continuing to rise, we need to do everything we can to increase production in our state.”
Assembly Bill 472 creates the 10-year tax credit based on the megawatt capacity of the facility with a $12.5 million credit each year for a facility with a capacity of 1,250 megawatts.
“It’s been a long, complicated road,” said Rep. Shae Sortwell, R-Two Rivers. “… This is a huge step forward.”
Sortwell said that another nuclear facility bill would be coming later.
Assembly Bill 618 would credit the construction materials credit for facilities that are certified by the Wisconsin Economic Development Corp. that is good for up to five years until the company obtains its operator license from the Nuclear Regulatory Commission.
“We are going to need more energy and nuclear energy is clean, efficient and reliable,” Feyen said.
Wisconsin lawmakers approved a pair of bills earlier this year to create a statewide nuclear siting study and to create a temporary board to plan and hold a Wisconsin Nuclear Power Summit.
