Please click on this link (http://capwiz.com/re-action/go/hr5351house) to send a quick email to your Congressman telling them to support U.S. House Resolution 5351. We strongly support this vital Renewable Energy Legislation.
Standard Solar Inc.
Making Solar Standard™
StandardSolar.com
H.R. 5351 Summary
2/12/2008--Introduced. Renewable Energy and Energy Conservation Tax Act of 2008- Amends Internal Revenue Code provisions relating to renewable energy sources and energy conservation. Extends:
(1) the tax credit for production of electricity from renewable resources through 2011;
(2) the energy tax credit for solar energy and fuel cell property through 2016;
(3) the special rule for treatment of gain from electronic transmission transactions by certain electric utilities through 2009;
(4) the tax credit for residential energy efficient property expenditures through 2014;
(5) the tax credit for alternative fuel vehicle refueling property expenditures through 2010;
(6) the tax credit for biodiesel and renewable diesel used as fuel through 2010;
(7) the tax credit for nonbusiness energy property expenditures through 2009; and
(8) the tax deduction for energy efficient commercial buildings through 2013.
Allows new tax credits for:
(1) investment in new clean renewable energy bonds and qualified energy conservation bonds; and
(2) the production of plug-in hybrid motor vehicles, cellulosic alcohol fuel, and electricity from marine and hydrokinetic renewable energy sources.
Revises the definition of "passenger automobile" for purposes of the limitation on depreciation deductions. Allows a tax exclusion for bicycle commuting reimbursements.
Revises certain tax incentives for investment in the New York Liberty Zone. Revises tax credit amounts for certain energy efficient household appliances produced after 2007.
Allows a five-year recovery period for the depreciation of qualified energy management devices.
Places limits on the tax deduction for income attributable to the domestic production of oil, natural gas, and any related products.
Revises tax rules relating to foreign oil and gas extraction income and foreign produced fuel used or sold outside the United States.
Solar-Nation.org
"Dear Solar Citizen:
For the third time in as many months, Congress is attempting to pass a bill that will extend tax credits to individuals and businesses investing in renewable energy. So why the excitement?
This time, it could be different. The stumbling block that tripped up the first two attempts—funding the credits by closing tax loopholes enjoyed by the oil & gas industry—may be removed this time around, meaning that congresspersons who voted against the measure twice before may vote differently this time, given enough encouragement from their constituents.
For more details, and to take action on behalf of clean energy, TAKE ACTION
Click the following link and send an email to your Congressman:
http://capwiz.com/re-action/go/hr5351house
Please forward this email to your company colleagues, friends, and others who support solar.
Thank You for Supporting Clean Solar Energy!
Chris Stimpson
Solar Nation Executive Campaigner"
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