SB 637

This bill creates a sales and use tax exemption for tangible personal property sold to a construction contractor that, in fulfillment of a real property construction activity, becomes a component of a nuclear energy facility in this state. The bill defines a “nuclear energy facility” as electric generating equipment and associated facilities that derive electricity from nuclear power. Under the bill, no person may claim the exemption unless certified by the Wisconsin Economic Development Corporation. A certification is valid for five years unless the nuclear energy facility receives an operating reactor license from the federal Nuclear Regulatory Commission, in which case the certification expires on the date of NRC licensure.

The bill also allows an electric public utility, electric cooperative, municipal electric company, or qualified wholesale electric company to claim an income and franchise tax credit equal to the wages paid to full-time employees of a nuclear energy facility in this state and capital expenditures paid for the construction, improvement, renovation, repair, maintenance, development, or operation of a nuclear energy facility in this state, including expenditures paid to contractors and subcontractors, but not including expenditures for acquiring land.

Because this bill relates to an exemption from state or local taxes, it may be referred to the Joint Survey Committee on Tax Exemptions for a report to be printed as an appendix to the bill.