Clean Tech Taxcess TrackerYour Update on Energy Tax Legislation |
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Date: May 28, 2010
The House passed this afternoon a modified version of the American Jobs and Closing Tax Loopholes Act, legislation that would retroactively extend for one year numerous expired tax provisions including the new energy efficient home credit under section 45L and the production tax credit for diesel fuel created from biomass, among others. The legislation would also permit grants in lieu of the section 45M credit for purchases of energy-efficient appliances for 2009 and 2010.
For its part, the Senate has adjourned until Monday, June 7, and so will not consider extenders legislation until after the Memorial Day recess. It is expected that further changes will be made by the Senate.
Follow this link to the JCT explanation of the legislation.
Please contact either Scott Smith or Lori Wren Elerts if you have any questions or need additional information.
