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United States · Bill · S

S. 1220 (99th)

Renewable Energy and Conservation Transition Act of 1985

openUnited States· United States Congress· EN

Introduced

24 May 1985

Last action

31 May 1985 · Committee

Status

Committee on Finance requested executive comment from OMB, Treasury Department, Energy Department.

Sponsors

Sen. Hatfield, Mark O. [R-OR], Sen. Matsunaga, Spark M. [D-HI], Sen. Cranston, Alan [D-CA], Sen. Levin, Carl [D-MI], Sen. Exon, J. James [D-NE], Sen. Kennedy, Edward M. [D-MA], Sen. Dixon, Alan J. [D-IL], Sen. Kerry, John F. [D-MA], Rep. Harkin, Tom [D-IA-5], Sen. Sarbanes, Paul S. [D-MD], Sen. Hart, Gary W. [D-CO], Sen. Hecht, Chic [R-NV], Sen. Hawkins, Paula [R-FL], Sen. Riegle, Donald W., Jr. [D-MI], Sen. Heflin, Howell [D-AL], Sen. Weicker, Lowell P., Jr. [R-CT], Sen. Pell, Claiborne [D-RI], Rep. Andrews, Mark [R-ND-At Large], Sen. Stafford, Robert T. [R-VT], Rep. Dodd, Christopher J. [D-CT-2], Sen. Murkowski, Frank H. [R-AK], Sen. Bumpers, Dale [D-AR], Sen. DeConcini, Dennis [D-AZ], Sen. Wilson, Pete [R-CA], Sen. Inouye, Daniel K. [D-HI], Rep. Simon, Paul [D-IL-24], Sen. Boren, David L. [D-OK], Sen. Specter, Arlen [R-PA], Rep. Abdnor, James [R-SD-2], Sen. Gore, Albert, Jr. [D-TN], Sen. Sasser, Jim [D-TN], Sen. D'Amato, Alfonse [R-NY], Rep. Cohen, William S. [R-ME-2], Sen. Evans, Daniel J. [R-WA], Sen. Bingaman, Jeff [D-NM], Rep. Kasten, Robert W., Jr. [R-WI-9], Sen. Biden, Joseph R., Jr. [D-DE], Sen. Mattingly, Mack [R-GA], Sen. Zorinsky, Edward [D-NE]

Subjects

Energy, Taxation

Source updated

29 August 2025

Energy · Taxation

Official sourceView documentsShare

Summary

Renewable Energy and Conservation Transition Act of 1985 - Title I: Extension of Business Energy Credits - Amends the Internal Revenue Code to extend the energy investment tax credit for solar energy property from 1985 to 1990. Sets the amount of such credit during such period at 15 percent for low temperature solar property and 25 percent for all other solar property. Extends the energy investment tax credit for wind property from 1985 to 1988. Sets the amount of such credit at: (1) ten percent during 1986 and 1987; and (2) five percent during 1988. Extends the energy investment tax credit for geothermal property and biomass property from 1985 to 1988. Extends the energy investment tax credit for ocean thermal property from 1985 to 1990. Revises the definition of "solar property" for purposes of such tax credit. Sets forth special rules for geothermal equipment to qualify for such credit. Title II: Affirmative Commitment Rule to Extend the Business Credit for Certain Long-Term Projects - Extends the time period during which an affirmative commitment must be made in order for long-term energy projects to be eligible for the energy investment tax credit. Allows such an extension: (1) from 1990 to 1993 for solar energy property; (2) from 1988 to 1990 for geothermal energy property; and (3) from 1985 to 1990 for hydroelectric generating property. Title III: Extension of Residential Energy Credits - Extends the residential energy income tax credit for solar renewable energy property from 1985 to 1990. Phases out such credit over such period of time. Provides that solar hot water systems and active space heating systems must meet certain additional standards in order to qualify for such credit. Extends the residential energy income tax credit for wind renewable energy property from 1985 to 1988. Phases out such credit over such period of time. Extends the residential energy income tax credit for geothermal renewable energy property from 1985 to 1988. Phases out such credit over such period of time. Revises the definition of geothermal deposits for purposes of such credit. Revises the definition of energy conservation expenditures for purposes of the residential energy income tax credit to limit the amounts taken into account to $700. Limits the energy conservation income tax credit to taxpayers with an adjusted gross income of less than $30,000. Title IV: Effective Date - Sets forth the effective date of this Act.

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

Timeline

  1. 24 May 1985

    Introduced

    Read twice and referred to the Committee on Finance.

    Source: IntroReferral

  2. 24 May 1985

    Introduced

    Introduced in Senate

    Source: IntroReferral

  3. 31 May 1985

    Committee

    Committee on Finance requested executive comment from OMB, Treasury Department, Energy Department.

    Source: Committee

Votes

No vote records are attached yet.

Versions

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

Documents

1 official file

Sponsors

Related records

Sources

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