Gov. Ted Kulongoski, D-Ore., has issued a veto on House Bills 2472 and 2940 and signed House Bill 2180.
H.B.2472 reduces the business energy tax credit cap (BETC) from $10 million to $3.5 million – a reduction that the governor believes goes too far and would put Oregon at a competitive disadvantage in growing the state's renewable energy sector.
H.B.2940 would diminish the value of Oregon's renewable portfolio standard (RPS) by including additional sources of generation not accounted for in the original standard at the expense of new renewable generation projects, according to the governor's office.
‘The correct approach to prevent a depreciation of the RPS is to make a targeted expansion (increase) to the RPS to account for the additional renewable resources generated by biomass facilities built prior to 1995,’ says Kulongoski. ‘Such targeted expansion would benefit both the goals of the RPS and Oregon's biomass industry.’
In addition, the governor signed H.B.2180, which directs the Oregon Department of Energy to conduct an economic analysis on renewable energy projects that qualify for the BETC.
SOURCE: Office Of Gov. Ted Kulongoski
