Renewable Energy Incentives Act - Amends the Internal Revenue Code respecting the renewable resource credit to: (1) increase the credit rate; (2) include alternative resources (solar, open loop biomass, incremental hydropower, incremental geothermal, geothermal, and landfill gas); (3) provide an increased credit for certain co-production facilities, and for qualified facilities on Indian and Alaskan Native Indian lands; (4) allow a credit (and its subsequent transferability) for a qualified facility of a tax-exempt organization or governmental unit; (5) provide for credit transferability; (6) require facility compliance with pollution laws; and (7) eliminate the January 1, 2004, placed-in-service date for purposes of qualified facility eligibility (makes the credit permanent).
Actions
Feb 27, 2003
Read twice and referred to the Committee on Finance.
Feb 27, 2003
Sponsor introductory remarks on measure. (CR S2923-2924)