(Radio Iowa) – A bill on its way to the governor would create tax rebates for companies building or restarting nuclear power plants — if they donate part of it to create nuclear energy courses at Iowa’s public universities. Republican Representative David Young of Van Meter says there are high paying jobs in the nuclear energy industry and the bill will propel Iowa’s economy.
“This is a vital piece of legislation to incentivize a nuclear energy industry here in our great state of Iowa and give us an ‘all of the above’ diverse source approach to our energy needs,” Young said. “It will provide Iowa homes and businesses and farms and towns in Iowa with affordable and reliable electricity and power. This is not just a theory. This is really going to happen.” Senator Dan Dawson, a Republican from Council Bluffs, says the bill is the right move for Iowa.
“Iowa has a need to electrify,” Dawson said. “We have a need to electrify not only to grow our state for future demand, but to meet the current demand right here. Part of that ‘all of the above’ strategy is nuclear.” Companies will be able to claim a rebate for sales taxes charged on construction materials and digital products like control boards or security systems — as well as replacement parts for the Duane Arnold Energy Center near Palo which is being recommissioned after being idle for six years.
Representative Hans Wilz, a Republican from Ottumwa, says the move will create more jobs in Iowa. “This is going to tell the nation and the world that Iowa is open for business not only for generation of nuclear power, but for the industry itself.” Representative Dave Jacoby, a Democrat from Coralville, says there are few incentives — beyond this one — that are available to support the start-up phase of nuclear facilities. “I think it’s also good that we’re expanding our energy portfolio,” Jacoby said.
Senator Herman Quirmbach, a Democrat from Ames, is one of the six lawmakers who opposed the bill. He cites an estimate indicating the take break will be worth over 65 MILLION dollars to the nuclear energy industry over the next five years. “Public subsidy of a private business basically puts us in the position of having the government try to pick winners and losers in the marketplace,” Quirmbach said.
Over 120 other members of the House and Senate approved the final version of the bill yesterday (Thursday).
