H.R. 3107, The Renewable Energy Tax Parity Act of 2007

• This item is from the 110th Congress (2007-2008) and is no longer current. Comments, voting, and wiki editing have been disabled, and the cost/savings estimate has been frozen.

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H.R. 3107 would amend the Internal Revenue Code of 1986 to provide a credit for residential biomass fuel property expenditures.

Detailed Summary

Renewable Energy Tax Parity Act of 2007 - Amends the Internal Revenue Code to allow a residential energy efficient property tax credit for 30% of a qualified biomass fuel property expenditure. Defines "qualified biomass fuel property expenditure" as an expenditure for property which uses the burning of biomass fuel (any renewable plant-derived fuel) to heat a residence and which has a thermal efficiency rating of at least 75%.

Status of the Legislation

Latest Major Action: 7/19/2007: Referred to House committee. Status: Referred to the House Committee on Ways and Means.

Points in Favor

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Points Against

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