Nevada Halts Huge Tax Breaks for Green Building
The Nevada Assembly has unanimously joined the Senate in suspending the law allowing major sales and property tax breaks for businesses that construct energy efficient buildings, the Nevada Appeal reports.
The tax breaks were created in 2005 exempting businesses that qualify from all but the base two percent of sales taxes on construction materials and fittings. They also get a property tax break of up to 50 percent for 10 years.
But experts say four or five projects already approved for the breaks will cost the state about $85 million in sales tax revenue alone and much more down the road in property taxes, hurting school districts and the state budget.
It’s not clear whether or not the governor will veto the legislation.
Energy Manager News
- Energy-as-a-Service: Charting a Path Through Complexity
- Demand Energy, EnerSys Complete Storage Project
- Lunera Intros Pathway and Entryway LED
- FPL to Buy and Phase Out Coal-Powered Plant, Saving Customers $129M
- Environmental, Health and Safety Software Moves Forward
- Johnson Controls: Interest, Investment in Energy Efficiency Up
- First-Ever Statewide Endorsement of Retail Supplier, by Delaware, Goes to Direct Energy
- Oberlin, Ohio, Ratepayers to Receive $2.2M in Rebates for Sale of RECs