HB1981 proposes a local option tax on renewable energy facility sales to benefit rural communities.

HB1981 allows counties to impose a three percent excise tax on the sale or transfer of renewable energy facilities if approved by voters. The tax aims to address economic challenges in rural areas by ensuring that wind and solar energy companies reinvest in the communities where they operate. The tax proceeds will be considered general county revenues, providing a new revenue option for local economic development. This act will take effect on January 1, 2026.

HB1981 proposes a local option tax on renewable energy facility sales to benefit rural communities.

HB1981 allows counties to impose a three percent excise tax on the sale or transfer of renewable energy facilities if approved by voters. The tax aims to address economic challenges in rural areas by ensuring that wind and solar energy companies reinvest in the communities where they operate. The tax proceeds will be considered general county revenues, providing a new revenue option for local economic development. This act will take effect on January 1, 2026.