Amend the committee report, as and if amended, SECTION 1, page [626-1], by striking lines 26 through 42 and inserting:
/ "(52) eighty percent of the fair market value of a renewable energy generation property required to be returned, pursuant to Section 12-37-970, or to be appraised and assessed pursuant to Section 12-4-540. For purposes of this item, 'renewable energy generation property' means property that generates electric power by the use of a renewable energy resource, as defined in Section 58-40-10(F). This exemption only applies for the ten consecutive property tax years after the facility becomes operational, provided, however, that the property became operational after property tax year 2012 and before property tax year 2021. For property that became operational in property tax year 2013 or 2014, this exemption applies for ten consecutive property tax years beginning in property tax year 2016 so long as the property was not subject to a fee in lieu agreement as of December 31, 2014, pursuant to Chapter 44 of the title, or Chapter 12 or 29 of Title 4. For property that became operational in property tax year 2015, if the property was subject to a fee in lieu agreement as of December 31, 2015, pursuant to Chapter 44 of the title, or Chapter 12 or 29 of Title 4, then the property is eligible for the exemption so long as the taxpayer notifies the other parties to the agreement of such election no later than thirty days after the effective date of this item, and, upon the expiration of the exemption, at the taxpayer's discretion, the provisions of the applicable pre-existing agreement may apply. This exemption applies only if the property does not meet the exemption of distributed renewable energy generation property for residential use provided by item (53). A taxpayer claiming an exemption allowed by this item also may not claim the exemption, pursuant to Section 12-37-220(A)(7); /
Renumber sections to conform.
Amend title to conform.