192fa

    On the printed bill, delete everything after the enacting clause and insert:

    "    Section 1. That § 10-45B-2.3 be amended to read as follows:

    10-45B-2.3. Notwithstanding any provision of this chapter, this section controls the amount of refunds payable under this chapter for any new agricultural processing facility or new business facility that has a construction date on or after January 1, 2010. For project cost incurred and paid from July 1, 2010, to December 31, 2012, inclusive, the amount of the refund shall be determined by applying the provisions of this chapter in effect on July 1, 2010. The amount of the tax refund for a new agricultural processing facility or new business facility shall be a percentage of the taxes paid, as follows:

            (1)    For project costs of less than ten million dollars, there shall be no refund;

            (2)    For project costs of ten or more million dollars but less than forty million dollars, there shall be a refund of forty-five percent of the taxes paid;

            (3)    For project costs of forty or more million dollars but less than five hundred million dollars, there shall be a refund of fifty-five percent of the taxes paid; and

            (4)    For projects costs of five hundred million or more dollars, there shall be no refund.

    No tax refund may be given for any project cost incurred and paid on or after January 1, 2013, except for performance retainage amounts, not to exceed ten percent, related to the project.

    Section 2. That § 10-45B-17 be amended to read as follows:

    10-45B-17. Notwithstanding any provision of this chapter, this section controls the amount of refunds payable under this chapter for any new business facility that is a wind energy facility and has a construction date on or after January 1, 2010. For project costs incurred and paid from July 1, 2010, to December 31, 2012, inclusive, the amount of the refund shall be determined by applying the provisions of this chapter in effect on July 1, 2010. The amount of the tax refund for a wind energy facility shall be a percentage of the taxes paid, as follows:

            (1)    For project costs of less than ten million dollars, there shall be no refund;

            (2)    For project costs of ten or more million dollars but less than forty million dollars, there shall be a refund of forty-five percent of the taxes paid; and

            (3)    For project costs of forty or more million dollars, there shall be a refund of fifty-five percent of the taxes paid.

    No tax refund may be given for any project cost incurred and paid on or after January 1, 2013, except for performance retainage amounts, not to exceed ten percent, related to the project. "