Companies starting or restarting nuclear facilities could receive sales tax exemptions during construction, according to a bill (HF 2757) headed to the governor’s desk. But companies could only receive the exemptions if they donate to nuclear energy workforce programs at the state’s public universities.
The exemptions would apply to things like building materials, equipment and construction services.
Rep. David Young, R-Van Meter, said the bill will provide high-paying jobs in the nuclear energy industry and that it will boost the state’s energy infrastructure.
“It will provide Iowa homes and businesses and farms and towns in Iowa with affordable and reliable electricity and power,” Young said. “This is not just a theory, this is really going to happen.”
Facilities that don’t start up within 12.5 years would have to pay back their tax exemptions. Companies would stop getting the tax breaks once facilities are operational.