House Advances New Vermont Yankee Tax

03/28/12 6:06AM

The Vermont House has advanced legislation that hits the Vermont Yankee nuclear plant with a big tax increase. Supporters say it works out about even for the Vernon reactor, because other payments it makes to the state are ending.

The House on Tuesday gave initial approval to a miscellaneous tax bill that roughly doubles, to about $12 million per year, the property and generation taxes paid by Vermont Yankee. Backers say the new taxes make up for the money the plant paid into Vermont's Clean Energy Development Fund, which is ending.

Money from the new payments will go to the education fund, the Clean Energy Development Fund and a new fund set up to help Windham County recovery economically if the plant shuts down.

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vermont_yankee vermont_legislature
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