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Desired state funding for a proposed coal-to-gas plant in Rockport will have to take a different path than the Indiana General Assembly.
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updated: 3/9/2012 12:44:26 PM
Rockport Decision Could Rest With Department of Revenue
The Indiana Department of Revenue is expected to decide whether a coal gasification project in southern Indiana should receive a tax credit of more than $120 million. Our partners at the Evansville Courier & Press report tax credit language for the project in Rockport will not make its way into a bill during the final day of this year's legislative session.
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The state agency is exepcted to rule in favor of the credit.
Opponents including Vectren Corp. (NYSE: VVC) believe the plant involves outdated technology and will cost taxpayers an estimated $800 million.
Proponents are satisfied working through the Indiana Department of Revenue.
Source: Courier & Press
