Accelerated Solar Energy Utilization Act of 1979

Summary

Accelerated Solar Energy Utilization Act of 1979 - Title I: Establishment of National Solar Goal - Establishes a national goal for the increased use of Solar energy and renewable energy resources as a part of the Nation's total energy supply in the year 2000. Title II: Establishment of Solar Energy Development Bank - Establishes a Government corporation in the Department of Housing and Urban Development (HUD) to be known as the Solar Energy Development Bank to provide subsidies of long-term low-interest loans made for the purchase and installation of solar energy systems in residential and commercial structures. Sets forth requirements for eligibility for such subsidies, and other terms and conditions thereto. Establishes a seven member advisory board to make annual reports to the Congress and the President on the operation of the program established by this Act and to advise the President of the Solar Bank and the Secretary of HUD. Permits the Solar Bank to utilize the services of HUD personnel. Imposes criminal penalties for the furnishing of false or misleading information by applicants for loans subsidized under this Act, and for the misuse of such loan funds. Directs the Solar Bank to inform financial institutions and builders and owners of residential and commercial structures of such program and to actively seek their participation. Authorizes the Bank to train employees of such institutions in the operation of this Act. Title III: Tax Credits for Solar Energy and Woodburning Stoves - Amends the Internal Revenue Code to qualify expenditures for woodburning stoves for the 15 percent residential energy conservation tax credit. Allows an additional 15 percent investment tax credit for process heat solar property. Allows a tax credit for certain builders for constructing buildings using passive solar elements. Title IV: Exemption from Certain Excise Taxes Made Permanent for Gasohol and Similar Alcohol Mixtures - Amends the Energy Tax Act of 1978 to make the exemption from motor fuels excise taxes for gasoline mixed with alcohol and alcohol mixed with special fuel a permanent exemption. Title V: Increased Secondary Financing for Dwellings with Solar Energy Systems - Amends the National Housing Act and the Federal Home Loan Mortgage Corporation Act to increase the maximum principal obligation amounts for residences fitted with solar energy systems.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

No timeline events have been ingested for this record yet.

Votes

No vote records are attached yet.

Versions

No version snapshots stored. Document URLs remain at the source.

Documents

1 official file

• Introduced in House

  summary · EN · 13 July 1979

  Open at official source

Sponsors

No sponsors or actors listed by the source.

Related records

No cross-record relationships stored yet.