Establishes that a renewable energy resource shall pay $5.00 per kilowatt of alternating current nameplate capacity for tangible property and $3.50 per kilowatt of alternating nameplate capacity for real property.

TAXATION -- LEVY AND ASSESSMENT OF LOCAL TAXES - Establishes that a renewable energy resource shall pay $5.00 per kilowatt of alternating current nameplate capacity for tangible property and $3.50 per kilowatt of alternating nameplate capacity for real property.