Sen. says bill would spur tribal wind development - KTIV News 4 Sioux City IA: News, Weather and Sports

Sen. says bill would spur tribal wind development


SIOUX FALLS, S.D. (AP) -- Sen. Tim Johnson says he'll introduce a bill to make it easier for American Indian tribes to get federal help to build wind farms without having to sell off their ownership stakes.

Federal wind production tax credits can offset private investors' costs, but since tribes are tax exempt, they have no tax liability against which they can apply the credit.

Johnson says that creates incentives for tribes to sell ownership in alternative energy projects to private investors.

Johnson's bill would let tribes transfer their otherwise unused share of production tax credits to their private partners without having to give up their portion of project ownership.

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