3.0.0 1370 2023-01-11T16:47:42Z 2023-01-11T16:47:42Z Senate S S 2007-05-11 110 ssfi00 Finance Committee Senate Standing Referred to 2007-05-11T15:39:26Z 2007-05-11 ssfi00 Finance Committee Senate Read twice and referred to the Committee on Finance. IntroReferral 2007-05-11 Sponsor introductory remarks on measure. (CR S6019-6021) IntroReferral B00100 9 Library of Congress 2007-05-11 Introduced in Senate IntroReferral 10000 9 Library of Congress C000127 Sen. Cantwell, Maria [D-WA] Maria Cantwell D WA N S001142 Sen. Smith, Gordon H. [R-OR] GORDON SMITH R OR H. 2007-05-11 True K000148 Sen. Kerry, John F. [D-MA] JOHN KERRY D MA FORBES 2007-05-11 True S000663 Sen. Snowe, Olympia J. [R-ME] Olympia Snowe R ME J. 2007-05-23 False Taxation Air conditioning Air pollution control Alternative energy sources Biomass energy Bonds Building construction Carbon dioxide Dams Depreciation and amortization Electric power production Electric utility rates Energy Energy conservation Energy efficiency Energy storage Environmental Protection Finance and Financial Sector Geothermal resources Housing and Community Development Income tax Investment tax credit Solar energy Tax credits Tax deductions Taxation 00 2007-05-11 Introduced in Senate 2007-06-19T22:05:56Z Clean Energy Investment Assurance Act of 2007 - Amends Internal Revenue Code provisions relating to the tax credit for the production of electricity from renewable resources to: (1) extend such credit through 2013; (2) allow a credit for the production of thermal energy; (3) allow a credit for investment in resources that produce electricity without carbon emissions; and (4) modify the definition of "closed-loop biomass" and "nonhydroelectric dams" for purposes of such tax credit.

Extends through 2013 the tax credit for holders of clean renewable energy bonds. Increases the annual national limitation for such bonds to $5 billion between 2009 and 2014.

Extends through 2016 the tax credit for residential energy efficient property expenditures. Eliminates the 30% limitation on solar electric property expenditures. Allows such credit for energy storage air conditioner property used in a principal residence. Calculates the maximum allowable amounts of such credit for solar property based upon kilowatt capacity.

Extends through 2016 the energy investment tax credit.

Extends through 2012 the tax credits for: (1) nonbusiness energy property expenditures; and (2) new energy efficient homes.

Extends through 2014 the tax deduction for energy efficient commercial buildings. Increases the rate of such deduction to $2.25 per square foot.

Assigns a five-year recovery period for the depreciation of any qualified energy management device ("smart meter") that is placed in service before 2012 and that measures and records electricity usage data on a time-differentiated basis of at least 10 minutes.

]]> Clean Energy Investment Assurance Act of 2007 Display Title Clean Energy Investment Assurance Act of 2007 Official Title as Introduced A bill to amend the Internal Revenue Code of 1986 to ensure more investment and innovation in clean energy technologies. Introduced in Senate IS Short Titles as Introduced Clean Energy Investment Assurance Act of 2007 Introduced in Senate 2007-05-11T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-110s1370is/xml/BILLS-110s1370is.xml 2007-05-11 Read twice and referred to the Committee on Finance. 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.