States Neww Service

Wednesday, April 28, 1999

Vermont Yankee Enjoys Tax Break - (MONTPELIER) -- A provision in Vermont's Act 60 statewide property tax law gives the Vermont Yankee nuclear power plant in Vernon a one-point-four-Million-dollar tax break. The special provision taxes the nuclear plant at a rate about half of what the rest of the state is paying... as long as Vermont Yankee continues in operation. A Vermont Yankee spokesman told state lawmakers that the tax break is necessary so the possible sale of the power plant is not jeopardized. He also says that if the plant is NOT sold, it may be forced to close... depriving the state of six- Million-dollars it now pays in state and local taxes. But members of the state Senate Finance Committee are still trying to find a way to end the nuclear plant's special tax break.