GOVERNOR TAKES NEXT STEP IN RENEWABLE ENERGY PLANS
LETTER SENT TO PRESIDENT TO PAVE WAY FOR SPECIAL FUNDING
Carson City - Governor Jim Gibbons has taken another step toward making Nevada the renewable energy center of the Nation. Yesterday, Gibbons sent a letter to President Barack Obama requesting changes to Internal Revenue Service Codes as part of any stimulus package. Such changes will allow special funding for electric power infrastructure in Nevada.
Plans call for the establishment of a non-profit (501(c)3) corporation to market Tax Exempt Private Activity Bonds in order to finance the construction of power transmission lines in Nevada. Money to improve the state's power infrastructure would come from Nevada's bonding capability, as well as public/private partnerships. Private companies have already expressed interest in building transmission lines in Nevada or in partnering with the state to do so. No taxpayer funds would be involved. Certain IRS Codes would need to be changed to permit the state to increase its bonding capacity without impacting other public projects.
"Nevada is profusely blessed with solar, wind, and geothermal energy production potential," Gibbons said, "The time for 'talk' passed long ago, I am taking this action now because we are prepared to move to the next level." Gibbons pointed out that Nevada is already well-positioned to harness renewable energy and deliver it throughout the area. "These are ambitious plans that will help move our state and our nation away from dependence on fossil fuels and also create thousands of good jobs here in Nevada." Gibbons said. Cost estimates for the power transmission infrastructure are approximately $3-billion. This is a long term plan that will position Nevada for a bright future in renewable energy.
Gibbons plans to make Nevada an energy producing state able to at least meet its own energy needs. Gibbons created the Nevada Renewable Energy Transmission Access Advisory Committee which has been working for more than 18-months planning and identifying transmission line routes and sites for renewable energy facilities.
The Governor's letter to the President was also addressed to Senator Majority Leader Harry Reid and House Speaker Nancy Pelosi.
Source: Nevada Governor's Office
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