3.0.0 1531 2023-01-11T17:02:47Z 2023-01-11T17:02:47Z Senate S S 2007-05-25 110 ssfi00 Finance Committee Senate Standing Referred to 2007-05-25T15:25:56Z 2007-05-25 ssfi00 Finance Committee Senate Read twice and referred to the Committee on Finance. (text of measure as introduced: CR S6955-6960) IntroReferral 2007-05-25 Introduced in Senate IntroReferral 10000 9 Library of Congress R000146 Sen. Reid, Harry [D-NV] HARRY REID D NV M. N A000109 Sen. Allard, Wayne [R-CO] A. ALLARD R CO WAYNE 2007-05-25 True S001163 Sen. Salazar, Ken [D-CO] Ken Salazar D CO 2007-05-25 True Taxation Alternative energy sources Bonds Depreciation and amortization Education Electric batteries Electric power production Electric vehicles Electronics Elementary and secondary education Energy Energy conservation Energy efficiency Energy storage Environmental Protection Finance and Financial Sector Geothermal resources Housing and Community Development Income tax Industrial buildings Investment tax credit Manufacturing industries Public utilities School buildings Solar energy Tax credits Tax deductions Transportation and Public Works Water Resources Development Water conservation Wind power Taxation 00 2007-05-25 Introduced in Senate 2007-06-28T14:55:30Z 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.

]]> Clean Renewable Energy and Economic Development Incentives Act of 2007 Display Title Clean Renewable Energy and Economic Development Incentives Act of 2007 Official Title as Introduced 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. Introduced in Senate IS Short Titles as Introduced Clean Renewable Energy and Economic Development Incentives Act of 2007 Introduced in Senate 2007-05-25T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-110s1531is/xml/BILLS-110s1531is.xml 2007-05-25 Read twice and referred to the Committee on Finance. (text of measure as introduced: CR S6955-6960) 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.