Posted on 05/14/2012 11:31:35 AM PDT by NevadaPolicyResearchInstitute
LAS VEGAS — The company behind the recently opened Silver State North solar plant is eligible to receive up to $50 million in federal tax credits under the Obama administration’s “stimulus” legislation, even though the plant created only two full-time jobs.
According to a Department of Interior memo, Enbridge Energy Partners, a Canadian-based company with extensive energy holdings in the U.S. that purchased the Southern Nevada plant from Arizona-based First Solar, “can apply for payments of up to 30 percent of the eligible costs of the project — approximately $50 million.”
The payments are available through the 1603 Program, a special exemption in the Treasury Department created by the American Reinvestment and Recovery Act to “reimburse eligible applicants for a portion of the cost of installing specified energy property used in a trade or business or for the production of income.”
The program states that the “1603 payment is made after the energy property is placed in service; a 1603 payment is not made prior to or during construction of the energy property.”
Silver State North began service on Monday, May 7. Larry Springer, a community relations manager at Enbridge, confirmed to Nevada Journal the company intends to file a 1603 application for reimbursement.
As of March 2012, over 34,000 renewable-energy projects across the country have received $11.2 billion in taxpayer funds through the ARRA-funded program. In Nevada, 108 projects have received $147.1 million.
The Department of Energy estimates 5,500 full-time jobs were created by the program, meaning each job cost taxpayers approximately $2,036,363.
(Excerpt) Read more at nevadajournal.com ...
heck I’ve created more full time positions then that this year. I want my money.
SHOW ME DA MONEY!!!!
They must be very important employees!..........
Isn’t Obamaland great?
Why don’t you little people shut the hell up and go pay your taxes? The Utopia the left is building for us isn’t cheap. :)
Just think about it.....
... this makes economic sense to liberals.
lolol
I wonder if the Canadian supernut lib Maurice Strong is involved in this.
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