S. 1531 (110th): Clean Renewable Energy and Economic Development Incentives Act of 2007

Introduced:
May 25, 2007 (110th Congress, 2007–2009)
Status:
Died (Referred to Committee)
Sponsor
Harry Reid
Senator from Nevada
Party
Democrat
Text
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Last Updated
May 25, 2007
Length
49 pages
 
Status

This bill was introduced on May 25, 2007, in a previous session of Congress, but was not enacted.

Progress
Introduced May 25, 2007
Referred to Committee May 25, 2007
 
Full Title

A bill to amend the Internal Revenue Code of 1986 to provide incentives and extend existing incentives for the production and use of renewable energy resources, and for other purposes.

Summary

No summaries available.

Cosponsors
2 cosponsors (1D, 1R) (show)
Committees

Senate Finance

The committee chair determines whether a bill will move past the committee stage.

 
Primary Source

THOMAS.gov (The Library of Congress)

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Notes

S. stands for Senate bill.

A bill must be passed by both the House and Senate in identical form and then be signed by the president to become law.

The bill’s title was written by its sponsor.

GovTrack’s Bill Summary

We don’t have a summary available yet.

Library of Congress Summary

The summary below was written by the Congressional Research Service, which is a nonpartisan division of the Library of Congress.


5/25/2007--Introduced.
Clean Renewable Energy and Economic Development Incentives Act of 2007 - Amends the Internal Revenue Code to extend through 2018 the tax credits for producing electricity from renewable resources and for investment in clean renewable energy bonds.
Allows new tax credits for: (1) holders of water conservation, reuse, and efficiency bonds; (2) expenditures for geothermal exploration; (3) holders of qualified renewable school energy bonds; and (4) investment in solar energy manufacturing facilities.
Expands the tax credit for residential energy efficient property to include expenditures for wind energy property that uses a qualifying wind turbine (with a rated capacity of 100 kilowatts or less) to generate electricity.
Extends through 2013 the new energy efficient home tax credit.
Expands the energy tax credit to include investment in equipment used to produce advanced battery and related power electronics for use in certain electric or hybrid motor vehicles or in residential or small commercial applications.
Allows the tax-exempt bond financing of renewable energy resource facilities (i.e., facilities for the production of electric or thermal energy from certain renewable resources).
Makes permanent the energy tax credit for investment in solar energy property. Includes as energy property for purposes of such credit excess energy storage devices.
Allows solar and geothermal public utility property to qualify for the energy tax credit.
Makes permanent the tax credit for residential energy efficient property expenditures. Allows three-year accelerated depreciation of solar energy property.

House Republican Conference Summary

The summary below was written by the House Republican Conference, which is the caucus of Republicans in the House of Representatives.


No summary available.

House Democratic Caucus Summary

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