3.0.0 2652 2023-01-12T17:53:02Z 2023-01-12T17:53:02Z House H HR 2007-06-11 110 hswm00 Ways and Means Committee House Standing Referred to 2007-06-11T16:31:25Z 2007-06-11 Referred to the House Committee on Ways and Means. IntroReferral H11100 2 House floor actions hswm00 Ways and Means Committee 2007-06-11 Introduced in House IntroReferral Intro-H 9 Library of Congress 2007-06-11 Introduced in House IntroReferral 1000 9 Library of Congress E000187 Rep. English, Phil [R-PA-3] PHIL ENGLISH R PA 3 N C001060 Rep. Carnahan, Russ [D-MO-3] Russ Carnahan D MO 3 2007-10-17 False K000009 Rep. Kaptur, Marcy [D-OH-9] MARCY KAPTUR D OH 9 2007-10-17 False W000804 Rep. Wittman, Robert J. [R-VA-1] Robert Wittman R VA J. 1 2008-03-04 False K000364 Rep. Kuhl, John R. "Randy", Jr. [R-NY-29] John Kuhl R NY R. "Randy" 29 2008-03-06 False U000031 Rep. Upton, Fred [R-MI-6] FRED UPTON R MI 6 2008-03-10 False T000459 Rep. Terry, Lee [R-NE-2] LEE TERRY R NE 2 2008-03-14 False M001138 Rep. Manzullo, Donald A. [R-IL-16] DONALD MANZULLO R IL 16 2008-05-21 False M001147 Rep. McCotter, Thaddeus G. [R-MI-11] Thaddeus McCotter R MI G. 11 2008-09-15 False B001228 Rep. Bono, Mary [R-CA-45] Mary Bono R CA 45 2008-09-17 False Taxation Alcohol as fuel Alternative energy sources Biomass energy Bonds Cellulose Coal Depreciation and amortization Diesel motor Electric appliances Electric power production Electric power transmission Energy Energy conservation Energy efficiency Energy facilities Excise tax Finance and Financial Sector Fuel cells Geothermal resources Income tax Investment tax credit Marine and coastal resources, fisheries Nuclear energy Nuclear power plants Ocean energy resources Oil shales Public Lands and Natural Resources Solar energy Tax credits Tax deductions Transportation and Public Works Water Resources Development Wind power Taxation 00 2007-06-11 Introduced in House 2007-07-19T21:32:36Z Generating Renewable Energy and Encouraging Novel Technologies Act of 2007 - Amends Internal Revenue Code provisions relating to renewable energy and other energy-related tax incentives.

Allows current year expensing for: (1) wind, solar, geothermal, biomass, and ocean energy property used to produce electricity; (2) qualified fuel cell or microturbine property; (3) oil shale extraction and processing property; and (4) coal-to-liquid fuels process property.

Extends eligibility for clean renewable energy bonds (CREBs) and the issuance authority for such bonds through 2018.

Extends through 2018: (1) the tax credit for investment in solar energy and qualified fuel cell property; (2) the income and excise tax credits for alcohol used as fuel and for alternative fuels; (3) the tax credit for nonbusiness energy property expenditures; and (4) the tax deduction for energy efficient commercial building expenditures.

Extends through 2016 the tax credit for residential energy efficient property expenditures and increases the amount of such credit.

Allows accelerated depreciation for electric transmission or distribution property.

Extends through 2017 the tax credit for using wind, solar, and geothermal resources to produce electricity.

Allows new tax credits for: (1) producing electricity from ocean energy; (2) investment in cellulosic biomass ethanol plant property; (3) investment in oil shale extraction and processing property; (4) diesel used as fuel; and (5) investment in a coal-to-liquid fuels project.

Revises tax credit amounts for certain energy efficient appliances (e.g., dishwashers, refrigerators) produced after 2007.

Extends through 2040 the tax credit for producing electricity from advanced nuclear power facilities and increases the amounts of such credit.

]]> Generating Renewable Energy and Encouraging Novel Technologies Act of 2007 Display Title Generating Renewable Energy and Encouraging Novel Technologies Act of 2007 Official Title as Introduced To amend the Internal Revenue Code of 1986 to generate renewable energy and encourage novel technologies related to the production of energy, and for other purposes. Introduced in House IH Short Titles as Introduced Generating Renewable Energy and Encouraging Novel Technologies Act of 2007 Introduced in House 2007-06-11T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-110hr2652ih/xml/BILLS-110hr2652ih.xml 2007-06-11 Referred to the House Committee on Ways and Means. text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.