Clean Energy Tax Stimulus Act of 2008
Latest action · Apr 3, 2008 Read twice and referred to the Committee on Finance.
Progress
Where this bill reached, and when. A stage with no date was not reached; one that failed a vote and later carried shows the date it carried.
- IntroducedApr 3, 2008
- Passed SenateNot reached
- Passed HouseNot reached
- To the PresidentNot reached
- Became lawNot reached
Summary
Clean Energy Tax Stimulus Act of 2008 - Amends the Internal Revenue Code to extend certain tax incentives for energy production and conservation.
Extends through 2009 the tax credit for the production of electricity from renewable resources (e.g., biomass, geothermal energy, landfill gas, and trash combustion). Includes marine and hydrokinetic renewable energy as a renewable resource eligible for such credit. Allows sales of electricity produced from renewable resources to regulated public utilities.
Extends the energy investment tax credits for solar energy (through 2016) and for fuel cell and microturbine property (through 2017). Repeals the dollar per kilowatt limitation for fuel cell property under the energy investment tax credit. Allows public electric utilities to qualify for such credit.
Extends through 2009 the tax credit for residential energy efficient property expenditures. Repeals the $2,000 limitation on the tax credit for solar electric property. Allows an offset against the alternative minimum tax (AMT) of tax credit amounts.
Extends through 2009 the tax credit for investment in clean renewable energy bonds. Increases the national limitation amount for such bonds.
Extends through 2009 deferral provisions relating to the recognition of gain by certain electric utilities.
Extends through 2009 the tax credit for nonbusiness energy property. Includes residential biomass fuel stoves (pellet stoves) as eligible energy property for purposes of such credit.
Extends through 2010 the tax credit for energy efficient new homes.
Extends through 2009 the tax deduction for energy efficient commercial buildings and increases the allowable amount of such deduction.
Extends the tax credit for energy efficient appliances to include appliances produced in 2008, 2009, and 2010. Revises and updates energy efficiency standards for such appliances in accordance with the Energy Independence and Security Act of 2007.
Cosponsors 44
Members who signed on, in the order they did. Signatures ran from Apr 3, 2008 to Jun 10, 2008, with 28 there on the day it was introduced.
| Seat | Cosponsor | Signed on | |
|---|---|---|---|
| D-MN | Amy Klobuchar | Original | Apr 3, 2008 |
| D-CA | Barbara Boxer | Original | Apr 3, 2008 |
| I-VT | Bernard Sanders | Original | Apr 3, 2008 |
| D-NY | Charles E. Schumer | Original | Apr 3, 2008 |
| D-CT | Christopher J. Dodd | Original | Apr 3, 2008 |
| D-MI | Debbie Stabenow | Original | Apr 3, 2008 |
| D-CA | Dianne Feinstein | Original | Apr 3, 2008 |
| R-NC | Elizabeth Dole | Original | Apr 3, 2008 |
| R-OR | Gordon H. Smith | Original | Apr 3, 2008 |
| R-TX | John Cornyn | Original | Apr 3, 2008 |
| R-NH | John E. Sununu | Original | Apr 3, 2008 |
| R-NV | John Ensign | Original | Apr 3, 2008 |
| R-SD | John Thune | Original | Apr 3, 2008 |
| D-DE | Joseph R. Biden Jr. | Original | Apr 3, 2008 |
| R-TX | Kay Bailey Hutchison | Original | Apr 3, 2008 |
Actions 2
Everything that happened, newest first.
- Apr 3, 2008Introduced in Senate
- Apr 3, 2008Read twice and referred to the Committee on Finance.
Related bills 1
Companion bills and other measures the record links to this one.
| Bill | Title | Relationship | Latest action |
|---|---|---|---|
| HR 5984 | Clean Energy Tax Stimulus Act of 2008 | Identical bill | May 7, 2008 |
Subjects
Assigned by the Library of Congress. Policy area: Taxation.
- Alternative energy sources
- Biomass energy
- Bonds
- Capital gains tax
- Coal
- Electric appliances
- Electric power production
- Electric power transmission
- Electric utilities
- Energy
- Energy efficiency
- Environmental Protection
- Finance and Financial Sector
- Fuel cells
- Geothermal resources
- Housing and Community Development
- Hydroelectric power
- Incineration
- Income tax
- Investment tax credit
- Irrigation
- Landfills
- Methane
- Minimum tax
- Refuse as fuel
- Solar energy
- Standards
- Tax credits
- Tax deductions
- Tax deferral
- Taxation
- Water Resources Development
- Wind power
Text 1
Each version as it was printed, newest first.
- Apr 3, 2008Introduced in Senate
Everything here is as published by Congress: the summary is the Congressional Research Service's, the action wording is the clerks', and the subjects are the Library of Congress's. How far it got is read from the actions themselves, taking the most recent one of each kind, so a bill that failed a vote and later passed is shown as having passed. Records come from this bill on Congress.gov and govinfo.gov.