Author: Joint Committee on Taxation

Publisher: Forgotten Books

Published: 2017-02-07

Total Pages: 52

ISBN-13: 9780243311613

Excerpt from Description of Proposals Relating to Renewable Energy and Energy Conservation Tax Incentives: Scheduled for Hearings Before the Subcommittee on Energy and Agricultural Taxation of the Senate Committee on Finance on June 13-14, 1991 S. 741 contains a number Of provisions related to renewable energy sources and energy conservation. First, S. 741 would provide a nonrefundable income tax credit for the domestic production (or the production within a us. Possession) of electricity through the use of qualified technologies property (sec. 801(a) of the bill). Quali fied technologies property for this purpose would be property relat ed to the production of energy from the following sources: solar thermal, photovoltaic, wind, geothermal (other than dry steam geo thermal), biomass, and others identified by the Secretary of Treas ury in consultation with the Secretary of Energy. Initially, the credit would be equal to cents (scaled down incrementally to cents by the year 2001, but adjusted for inflation) per kilowatt hour of electricity produced with qualified technologies property and sold to unrelated persons.13 The credit would offset the regular tax, but not the alternative minimum tax. The tax credit for the production of electricity would apply to electricity sold after December 31, 1991, and before January 1, 2009, that is produced with qualified technologies property (for which a business energy tax credit is not allowed) which is placed in service after December 31, 1991, and before January 1, 2002. About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.