Imposition of tax on renewable energy project entities -- Deposit of revenue

(1) (a) Beginning January 1, 2026, there is annually levied a tax on a renewable energy project entity in the state for each calendar year following the calendar year in which a wind or solar electric generation facility owned by the renewable energy project entity becomes commercially operational. (b) Notwithstanding the other provisions of this chapter, a renewable energy project entity does not owe a tax under this chapter for a wind or solar electric generation facility project that before December 31, 2025, was: (i) operating; (ii) under construction; or (iii) subject to a power purchase agreement or other binding agreement to purchase output of the wind or solar electric generation facility. (2) The tax levied under Subsection (1) is calculated by multiplying the megawatts, or portion of megawatts, of operational generating alternating current nameplate capacity of a wind or solar electric generation facility owned by the renewable energy project entity by $1,050. (3) (a) A renewable energy project entity in the state shall electronically file with the commission, on or before March 1 of each year, a statement containing the information required by Subsection (3)(b) in a manner prescribed by the commission. (b) The statement required in Subsection (3)(a) shall include: (i) the name, description, and location of a wind or solar electric generation facility owned by the renewable energy project entity in the state; (ii) the nameplate capacity described in Subsection (2); and (iii) any other reasonable and necessary information required by the commission. (c) A statement or report required to be filed with the commission shall be signed and sworn to by the chief executive officer of the renewable energy project entity or the chief executive officer's designee. (d) A willful false swearing as to a material fact set out in the statement or report required under this Subsection (3) is a violation of Section 76-8-504 and may result in prosecution. (4) The tax imposed by this chapter does not apply to a wind or solar electric generation facility that is owned or operated by: (a) the United States; (b) the state or a political subdivision of the state; (c) an Indian or Indian tribe, as defined in Section 9-9-101; or (d) a distribution electric cooperative or a wholesale electric cooperative, as defined in Section 54-2-1. (5) The commission shall deposit revenue from the tax imposed in this section into the Species Protection Account created by Section 23A-3-214.