State Codes and Statutes

Statutes > Nebraska > Chapter70 > 70-1903

70-1903. Terms, defined.For purposes of the Rural Community-Based Energy Development Act:(1) C-BED project or community-based energy development project meansa new wind energy project that:(a) Has an ownership structure as follows:(i) For a C-BED project that consists of more than two turbines, hasone or more qualified owners with no single individual qualified owner owningdirectly or indirectly more than fifteen percent of the project and with atleast thirty-three percent of the gross power purchase agreement paymentsflowing to the qualified owner or owners or local community; or(ii) For a C-BED project that consists of one or two turbines, has oneor more qualified owners with at least thirty-three percent of the gross powerpurchase agreement payments flowing to a qualified owner or owners or localcommunity; and(b) Has a resolution of support adopted:(i) By the county board of each county in which the C-BED project isto be located; or(ii) By the tribal council for a C-BED project located within the boundariesof an Indian reservation;(2) Debt financing payments means principal, interest, and other typicalfinancing costs paid by the C-BED project company to one or more third-partyfinancial institutions for the financing or refinancing of the constructionof the C-BED project. Debt financing payments does not include the repaymentof principal at the time of a refinancing;(3) Electric utility means an electric supplier that:(a) Owns more than one hundred miles of one-hundred-fifteen-kilovoltor larger transmission lines in the State of Nebraska;(b) Owns more than two hundred megawatts of electric generating facilities;and(c) Has the obligation to directly serve more than two hundred megawattsof wholesale or retail electric load in the State of Nebraska;(4) Gross power purchase agreement payments means the total amount ofpayments during the life of the agreement. For power purchase agreements enteredinto on or before December 31, 2011, if the qualified owners have a combinedtotal of at least thirty-three percent of the equity ownership in the C-BEDproject, gross power purchase agreement payments shall be reduced by the debtfinancing payments; and(5) Qualified owner means:(a) A Nebraska resident;(b) A limited liability company that is organized under the LimitedLiability Company Act or theNebraska Uniform Limited Liability Company Act and that is madeup of members who are Nebraska residents;(c) A Nebraska nonprofit corporation organized under the Nebraska NonprofitCorporation Act;(d) An electric supplier as defined in section 70-1001.01, except thatownership in a single C-BED project is limited to no more than:(i) Fifteen percent either directly or indirectly by a single electricsupplier; and(ii) A combined total of twenty-five percent ownership either directlyor indirectly by multiple electric suppliers; or(e) A tribal council. SourceLaws 2007, LB629, § 3; Laws 2008, LB916, § 1; Laws 2009, LB561, § 3; Laws 2010, LB888, § 102.Operative Date: January 1, 2011 Cross ReferencesLimited Liability Company Act, see section 21-2601.Nebraska Nonprofit Corporation Act, see section 21-1901.Nebraska Uniform Limited Liability Company Act, see section 21-101.