LGC 13.8 - Tax Holidays for the Energy Industry - STATUTE

[Attorney General, Senator-Elect, & Former PPT Dwarven Dragon]

Tax holidays for the energy industry

Due to the need to rebuild the region's energy-bearing infrastructure in order to redirect it from the South to Fremont, all oil, gas and electric companies registered and operating in the Lincoln region are exempt from all regional taxes, except for the carbon tax.

The act is valid from June 1, 2023 to December 31, 2023 inclusive.

Sponsor: Oleg
Court Sponsor: Dwarven Dragon
Occupying: Slot 4 of 10

[Oleg 🇰🇿🤝🇺🇦]

Thanks to the efforts of my dear colleague in the South, our region is becoming the greenest place in the world. Perhaps we should slow down this process a bit?

[Pyro]

Over the past few years, Lincoln has taken great strides in supporting and developing the green energy industry. Renewable energy is supported heavily through the Lincoln Energy Authority and $60M in yearly subsidies to solar, wind, and hydroelectric power companies. In addition to hosting this booming field, we have taken steps to reduce our reliance on fossil fuels.

Our ongoing phase-out process is inherently linked to the tax on carbon emissions by power plants. Though I sympathize with the objective here, I cannot support any proposal that seeks to reduce taxes on corporate polluters.

[S019]

I am not supporting this either

[NewYorkExpress]

I agree with Pyro and S019. We can't afford to be giving tax breaks to polluters. If anything, this crisis should make us more aggressive in shutting down the fossil fuel industry in Lincoln.

[Oleg 🇰🇿🤝🇺🇦]

Of course, I like to get to work by bike and work by candlelight, but the question that worries me is — can we defend ourselves from the South with bicycles alone?

[GM Team Member and Senator WB]

Tax holidays for the energy industry

Due to the need to rebuild the region's energy-bearing infrastructure in order to redirect it from the South to Fremont, all oil, gas and electric companies registered and operating in the Lincoln region are exempt from all regional taxes, including property and carbon taxes.

The act is valid from June 1, 2023 to JuneJanuary 1, 2024 inclusive.

Amendment to make this more temporary.

[Oleg 🇰🇿🤝🇺🇦]

I agree with the amendment. Perhaps for convenience, we should choose "to December 31, 2023 inclusive".

[Oleg 🇰🇿🤝🇺🇦]

Like this:

Tax holidays for the energy industry

Due to the need to rebuild the region's energy-bearing infrastructure in order to redirect it from the South to Fremont, all oil, gas and electric companies registered and operating in the Lincoln region are exempt from all regional taxes, including property and carbon taxes.

The act is valid from June 1, 2023 to June 1 December 31, 2023 inclusive.

[GM Team Member and Senator WB]

Looks good.

I do think temporary tax relief, as painful as it may feel to do it, may be necessary to prevent our energy prices from soaring to the point that a majority of Lincoln residents may find themselves unable to afford it.

[Attorney General, Senator-Elect, & Former PPT Dwarven Dragon]

Any objection to the amendment as modified?

[S019]

No objections, but I still don’t support this. Crises like these show the need to decarbonize.

[Attorney General, Senator-Elect, & Former PPT Dwarven Dragon]

I should probably have my head examined for agreeing with the Labor delegation, but after careful consideration, I will oppose the bill. A backdoor abolition of our carbon tax seems to be an overreach, even in this crisis.

[Oleg 🇰🇿🤝🇺🇦]

I propose to add the following amendment, merging it with the previous one:

Tax holidays for the energy industry

Due to the need to rebuild the region's energy-bearing infrastructure in order to redirect it from the South to Fremont, all oil, gas and electric companies registered and operating in the Lincoln region are exempt from all regional taxes, including property and carbon taxes except for the carbon tax.

The act is valid from June 1, 2023 to June 1, 2024 December 31, 2023 inclusive.

[Attorney General, Senator-Elect, & Former PPT Dwarven Dragon]

Any objection?

[Attorney General, Senator-Elect, & Former PPT Dwarven Dragon]

Amendment as Modified is Adopted

[Attorney General, Senator-Elect, & Former PPT Dwarven Dragon]

I will support the bill as it no longer eliminates the carbon tax.

Motion for a final vote

[Attorney General, Senator-Elect, & Former PPT Dwarven Dragon]

A vote is beginning

Aye

[NewYorkExpress]

Abstain

[GM Team Member and Senator WB]

Aye

[Pyro]

Nay

[S019]

Nay

[Attorney General, Senator-Elect, & Former PPT Dwarven Dragon]

The vote is tied, 2-2-1. The Governor will break the tie.

[Oleg 🇰🇿🤝🇺🇦]

Aye

[Attorney General, Senator-Elect, & Former PPT Dwarven Dragon]

Passes 3-2-1