Imposing a nameplate capacity tax and a production tax upon certain wind farms and solar facilities, crediting the nameplate capacity tax and the production tax revenue to the property tax relief fund, creating the property tax relief fund, transferring moneys from the property tax relief fund to the state school district finance fund and decreasing the statewide property tax levy for schools.

This bill creates new excise taxes on wind and solar energy facilities based on their capacity and electricity production. The revenue from these taxes will go into a new property tax relief fund. This fund will then transfer money to the state school district finance fund, which will help lower the statewide property tax levy for schools.

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