Law gives renewable plants a tax break

A new state law that takes effect Aug. 10 allows builders of renewable generation facilities to work out extended in-lieu-of-tax payments.

Such deals were previously restricted to a limit of five years. But those seeking to build such plants complained that they needed longer agreements in order to obtain longer-term financing.

The bill ran into a rough patch in February, when some senators wanted to amend the bill to make sure that town meeting voters would be able to vote on the matter. But the full Senate rejected the amendment, worried that some deals might fall through because potential lenders may not be willing to wait until the next town meting. – BOB SANDERS

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