FE 10: Growing a Renewable Energy Economy Now Act of 2017 (Statute)
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  FE 10: Growing a Renewable Energy Economy Now Act of 2017 (Statute)
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Author Topic: FE 10: Growing a Renewable Energy Economy Now Act of 2017 (Statute)  (Read 588 times)
Pragmatic Conservative
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« on: January 26, 2017, 06:19:09 PM »
« edited: February 01, 2017, 05:44:11 PM by Speaker 1184AZ »

AN ACT
to promote renewable energy and
encourage investment in sustainable
energy production

Section 1 (Title & Definitions)
i. The long title of this act shall be the "Growing a Renewable Energy Economy Now Act of 2017." It may be cited as the "Renewable Energy Act" or as the "G.R.E.E.N. Act."
ii. "Renewable Energy" shall be defined as energy derived from a source that (a) is not depleted when used; and (b) is not carbon based.
iii. "Non-renewable Energy" shall be defined as energy derived from a source that does not conform to the definition set forth in Section 1, clause ii of this Act.
iv. "Energy Producer" shall refer to any firm or agency which derives profit in whole or in part from the production of electricity.
v. "Renewable Energy Producer (REP)" shall be defined as an Energy Producer that produce at least 75.00% of their total energy output from renewable sources.
(a) An "Existing Renewable Energy Producer" shall be defined as a REP that began operations on or before December 31, 2015.
(b) A "New Renewable Energy Producer" shall be defined as a REP that began operations on or after January 1, 2016 and has been established for fewer than three (3) years.

Section 2 (Tax Deductions for REPs)
i. Existing REPs established within the Commonwealth of Fremont may deduct 5.00% of their gross anual earnings from their Regional Corporate Tax Payment.
ii. New REPs established within the Commonwealth of Fremont may deduct 20.00% of their gross anual earnings from their Regional Corporate Tax Payment.

Section 4 (Encouraging Renewable Energy Production)
i. Energy Producers that should adjust their production methods so as to qualify for classification as REPs under Section 1, clause v of this Act shall be entitled to deduct 50.00% of the total cost of conversion from their Regional Corporate Tax Payment over the course of five (5) years.
ii. Individuals who should make improvements to their place of residence that demonstrably reduce their anual energy consumption, or else purchase an appliance to the same effect, shall be entitled to deduct 30.00% of the total cost of such improvements from their Regional Income Tax Payment for the year in which the improvements were made.

Section 5 (Implementation)
i. This Act shall go into effect with the 2018 Fiscal Year.

Sponsor: Truman Labor
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48 Hours for debate.
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Unconditional Surrender Truman
Harry S Truman
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« Reply #1 on: January 28, 2017, 04:28:43 PM »

This bill is based on a similar proposal, also titled the "G.R.E.E.N. Act," that I introduced while serving as a member of the Mideast Assembly nearly two years ago. The idea is to encourage existing energy producers, new companies, and individual households to invest in alternative energy by introducing a series of tax incentives to those who do so. That, hopefully, would further the necessary transition to renewable energy while mitigating any potentially negative effects to employment and economic growth in the short term.

The fact of that matter is that climate change is happening, that it is man-made, and that we must either do everything in our power to reduce our impact on this planet or suffer the consequences. The droughts and wildfires that have plagued California in recent years are only the beginning if we fail to meet this challenge. Furthermore, investing in renewable energy is good for Fremont's economy. This is an opportunity to confront perhaps the greatest threat to humanity of our time and create more and better jobs for our region all at the same time.

I'm interested hear what the Assembly thinks of this proposal, and particularly eager to see if they have any ideas to make it better. Reading through the bill a second time, I already think it would be advisable to add private businesses to 3.ii; any thoughts on that? Likewise, if anyone thinks it necessary to adjust the deductions proposed in Sections 2 and 3, I'd be happy to consider that.
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Pragmatic Conservative
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« Reply #2 on: January 29, 2017, 11:36:37 PM »

I am extending debate on this bill for 24 hours.
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Unconditional Surrender Truman
Harry S Truman
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« Reply #3 on: January 30, 2017, 06:00:47 PM »

Seriously? Nobody has anything to say about this bill?

Anyways, I offer the following amendment:

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Pragmatic Conservative
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« Reply #4 on: January 30, 2017, 07:21:21 PM »

Amendment is Friendly. Anyways this bill seems like a good attempt to promote renewable energy, without punishing the oil industry.   
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Pragmatic Conservative
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« Reply #5 on: January 31, 2017, 02:41:36 PM »

I open this bill up for a final 24 hour vote. Please vote Aye, Nay or Abstain.
-----
Aye
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Representative simossad
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« Reply #6 on: February 01, 2017, 12:14:06 PM »

Aye!
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Pragmatic Conservative
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« Reply #7 on: February 01, 2017, 05:37:14 PM »

This bill passes with 2 ayes, 1 non voting and goes to the Governors desk for his signature or veto. 
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Unconditional Surrender Truman
Harry S Truman
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« Reply #8 on: February 01, 2017, 05:40:44 PM »

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