July 12, 2019
Governor Mike Parson last week signed a bill into law that will help determine how the wind farm tax revenues from the proposed High Prairie Wind Farm in Schulyer and Adair County will be distributed. The main resolution from HB220 in this session is that the tax revenues generated from the facility are going to be staying within the Schulyer and Adair county lines. This is important as the wind farm is proposed to generate more than $32 million in local taxes.
In 2018, Terra-Gen and Ameren Missouri announced plans to build the new wind farm in Missouri, becoming the largest utility-scale wind farm in the state to date. Terra-Gen will be the developer and construct the project and Ameren will purchase the ownership of the facility post-construction. The main item in question is how the property tax revenues would be distributed over time. Differing from many other renewable laden states, Missouri historically has had a law that would distribute the wind farm tax revenues (property, sales, and income) throughout the entire service area of where the wind farm delivered electricity. However, this new law will keep those taxes local.
Kirksville-Regional Economic Development, Inc. has led lobbying efforts toward passage of the bill and commented on the Governor signing the bill into law. K-REDI Executive Director Carolyn Chrisman said, “We’re very happy that it’s going to be signed and official, we didn’t have any concerns that the governor wouldn’t sign it, but it’s nice to see it actually be completed.”
This bill could help shape the state of Missouri going forward in regards to the taxes generated from large utility-scale renewable energy projects.