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United States · Bill · HR

H.R. 5351 (110th)

Renewable Energy and Energy Conservation Tax Act of 2008

referredUnited States· United States Congress· EN

Introduced

12 February 2008

Last action

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Status

Received in the Senate and Read twice and referred to the Committee on Finance.

Sponsors

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Subjects

Discovery layer

Source updated

7 April 2025

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Summary

Renewable Energy and Energy Conservation Tax Act of 2008- Amends Internal Revenue Code provisions relating to renewable energy sources and energy conservation. Extends: (1) the tax credit for production of electricity from renewable resources through 2011; (2) the energy tax credit for solar energy and fuel cell property through 2016; (3) the special rule for treatment of gain from electronic transmission transactions by certain electric utilities through 2009; (4) the tax credit for residential energy efficient property expenditures through 2014; (5) the tax credit for alternative fuel vehicle refueling property expenditures through 2010; (6) the tax credit for biodiesel and renewable diesel used as fuel through 2010; (7) the tax credit for nonbusiness energy property expenditures through 2009; and (8) the tax deduction for energy efficient commercial buildings through 2013. Allows new tax credits for: (1) investment in new clean renewable energy bonds and qualified energy conservation bonds; and (2) the production of plug-in hybrid motor vehicles, cellulosic alcohol fuel, and electricity from marine and hydrokinetic renewable energy sources. Revises the definition of "passenger automobile" for purposes of the limitation on depreciation deductions. Allows a tax exclusion for bicycle commuting reimbursements. Revises certain tax incentives for investment in the New York Liberty Zone. Revises tax credit amounts for certain energy efficient household appliances produced after 2007. Allows a five-year recovery period for the depreciation of qualified energy management devices. Places limits on the tax deduction for income attributable to the domestic production of oil, natural gas, and any related products. Revises tax rules relating to foreign oil and gas extraction income and foreign produced fuel used or sold outside the United States.

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Documents

8 official files

Referred in Senate (text)

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