House OKs changes to Business Energy Tax Credit

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The Oregon House voted Wednesday to reform the Business Energy Tax Credit (BETC) and also approved biomass legislation.

Both measures now go to the Senate.

The Legislature passed similar BETC legislation a year ago, but Gov. Ted Kulongoski vetoed it.

On Wednesday, though, the governor said he supported the measures.

“I applaud the members of the House today for passage of House Bill 3680, reforming the Business Energy Tax Credit and House Bill 3674, recognizing pre-1995 biomass facilities as part of Oregon’s Renewable Portfolio Standard,” the governor said in a statement.

“The reforms in House Bill 3680 will improve the state’s renewable energy incentive program, an effort that has successfully attracted jobs and investment to Oregon, by ensuring greater accountability for taxpayers and certainty for the green energy industry. This legislation will also allow the program to continue to be a strong economic development tool for communities across Oregon.

“House Bill 3674 recognizes that biomass is an important renewable energy resource that Oregon should continue to develop. The compromise legislation ensures this renewable energy resource continues to help the state reduce its carbon emissions while also maintaining Oregon’s aggressive RPS and improving the health of our forests.

“I appreciate the hard work of the members of the House in developing and passing this important legislation and look forward to signing both bills after swift passage in the Senate.”

The BETC measure is expected to save the state government more than $50 million during the current two-year budget and more than $500 million over the next few years.