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Sen. Joe Bolkcom Sen. Randy Feenstra Rep. Tom Sands Rep. Daniel Kelley

Four Iowa lawmakers recognized for work on exempting hydro equipment from state taxes

Missouri River Energy Services (MRES) recognizes state Senator Joe Bolkcom (D-Iowa City), Senator Randy Feenstra (R-Hull), Representative Tom Sands (R-Wapello) and Representative Daniel Kelley (D-Newton) for their work in authoring and vigorously supporting House File 630 which exempts hydroelectric conversion equipment from state sales and use taxes.

As a municipal power agency serving municipal electric communities, MRES is concerned with providing our members and their customers with cost-effective and reliable electricity. Also, MRES is committed to diversifying our resources and with adding renewable energy as a greater part of our energy portfolio. In honoring these commitments, MRES has researched developing additional resources, and that search has led to the proposed development of the Red Rock Hydroelectric Project. The Red Rock Hydroelectric Project will convert the existing flood control dam near Pella, Iowa into a hydroelectric facility, providing customers with 36 MW of clean, reliable baseload power. The project will have a $250 million economic impact to the Pella/Knoxville area, including 400-700 jobs during construction. To complete the conversion, MRES will invest in millions of dollars of conversion equipment. HF 630 puts hydroelectric development on the same footing as wind development by providing hydroelectric conversion equipment with the same state tax exemptions granted to wind development equipment. Passage of this bill not only assists the completion of the Red Rock project, but will incentivize other hydroelectric projects that are possibilities in Iowa.