S. 590 (110th): Securing America’s Energy Independence Act of 2007

Introduced:
Feb 14, 2007 (110th Congress, 2007–2009)
Status:
Died (Referred to Committee)
Sponsor
Gordon Smith
Senator from Oregon
Party
Republican
Text
Read Text »
Last Updated
Feb 14, 2007
Length
10 pages
Related Bills
H.R. 550 (Related)
Securing America’s Energy Independence Act of 2007

Referred to Committee
Last Action: Jan 18, 2007

 
Status

This bill was introduced on February 14, 2007, in a previous session of Congress, but was not enacted.

Progress
Introduced Feb 14, 2007
Referred to Committee Feb 14, 2007
 
Full Title

A bill to amend the Internal Revenue Code of 1986 to extend the investment tax credit with respect to solar energy property and qualified fuel cell property, and for other purposes.

Summary

No summaries available.

 
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.


2/14/2007--Introduced.
Securing America's Energy Independence Act of 2007 - Amends the Internal Revenue Code to extend through 2016: (1) the energy tax credit for solar energy property and qualified fuel cell property; and (2) the tax credit for residential energy efficient property expenditures. Allows such credits to be applied against alternative minimum tax liability.
Expands the definition of "energy property" for purposes of the tax credit to include certain equipment which uses solar energy to generate or store excess electricity.
Provides for a special credit amount for solar photovoltaic energy property and residential energy efficient property based upon kilowatt capacity.
Allows a tax credit for the full amount of qualified photovoltaic property expenditures (currently, limited to 30%).
Allows accelerated depreciation (three-year recovery period) for solar energy and fuel cell 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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