Harrisburg, July 15, 2016 – The recently enacted Pennsylvania state budget includes the Coal Refuse Energy and Reclamation Tax Credit Program to assist companies who create jobs and help restore mine scarred land.
For the first time in Pennsylvania history, the coal refuse electric generation industry will be eligible for a tax credit of $4 per ton of coal refuse. In the 2016-17 state budget, $7.5 million in tax credits will be available and that number will rise to $10 million in 2017-18. No company will be eligible for more than 22.2 percent of credits available in any year.
“The Coal Refuse and Reclamation Tax Credit will have a profound impact on Pennsylvania’s economy and environment,” said Senator John Yudichak (D – Carbon/Luzerne). “Coal refuse generation plants, like Panther Creek Energy in Nesquehoning, can leverage these tax credits with private sector funds to create more jobs, reclaim more land and produce more affordable electricity.”
Presently, the coal refuse electric generation and reclamation industry employs 3,800 Pennsylvania residents and the generation plants combined create 1,500 megawatts of renewable energy. The industry has removed approximately 200 million tons of refuse coal from mine scarred land in Pennsylvania.
“Panther Creek Energy and the coal refuse remediation industry are greatly appreciative of the General Assembly’s passage and the Governor’s signing of the Coal Refuse Energy Tax Credit legislation,” said Sean Lane, a representative from Olympus Power LLC, owner of Panther Creek Energy. “This signifies a deepening of the Commonwealth’s commitment to support an industry that cleans up the coal refuse piles in the anthracite and bituminous regions of our state. The program is also evidence of the continuation of our partnership with Pennsylvania as we address the environmental, human health and safety hazards posed by the refuse piles littering the Commonwealth.”