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Alaska Senator Seeks MLP Status for Renewables

By Sara Murphy - Apr 22, 2013 at 5:11PM

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The ranking member of the Senate Energy Committee wants to extend MLP eligibility to renewable-energy and energy-efficiency companies

Sen. Lisa Murkowski (R-Alaska) says she plans to introduce legislation tomorrow that would allow renewable-energy companies to register as master limited partnerships, or MLPs. Laying out her energy agenda for the coming years, the ranking member of the Senate Committee on Energy and Natural Resources made the announcement as the keynote speaker today at "The Future of Energy 2013 Summit," sponsored by Bloomberg New Energy Finance.

The MLP Parity Act would extend to the renewable space a privilege that until now has been limited to oil and gas companies. MLP eligibility would allow renewable-energy and energy-efficiency companies to reap the benefits of single taxation on earned profits. Murkowski said she believes there is not only bipartisan but also bicameral support for the legislation.

An MLP is a business structure that allows companies to raise capital like a corporation but pay taxes like a partnership.

The senator said her other priorities include promoting domestic mineral production, protecting the Department of Energy's loan guarantee program, and advancing hydropower, marine hydrokinetic power, and other clean-energy technologies. She proposes an advanced energy trust fund, which would open up federal land that's currently off limits for production and use a portion of the receipts for new energy research.

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