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S. 2520, A bill to amend the Internal Revenue Code of 1986 to allow Indian tribal governments to transfer the credit for electricity produced from renewable resources
- This item is from the 110th Congress (2007-2008) and is no longer current.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.
Version saved on April 15, 2008, 20:23:34, by webmaster:
S. 2520 would amend the Internal Revenue Code of 1986 to allow Indian tribal governments to transfer the credit for electricity produced from renewable resources.
Detailed Summary
Amends the Internal Revenue Code to allow an Indian tribal government, in the case of a facility that uses a renewable energy resource to produce electricity in which such government has an ownership interest in the gross sales from such facility, to assign to any other person who has such an ownership interest in such facility any portion of the production from the facility that would, but for this Act, be allocated to such government for purposes of the renewable electricity production credit.
Makes such amendment applicable to electricity produced and sold after December 31, 2006.
Status of the Legislation
Latest Major Action: 12/19/2007: Referred to Senate committee. Status: Read twice and referred to the Committee on Finance.
Points in Favor
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Points Against
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Visitor Comments
Tim
December 31, 2007, 10:24am (report abuse)A very good thing for non gaming tribes especially.
Gary
May 6, 2008, 2:40pm (report abuse)If passed, this effort would encourage growth of CLEAN wind powered energy, plus it would also improve the financial well being of Native Amercian Tribes (a non-gambling source of revenue). Clearly this is a Win-Win situation.
Danny
July 24, 2008, 6:24pm (report abuse)There is NO reason why this should not be passed into law. Native American tribes (receive tax credit as other people do) have just as much right to own their own wind farms as anyone else. Pass this!
patrick
August 16, 2008, 4:19pm (report abuse)this is an outrage that this hasnt passed already. Greedy people in high positions need to share the wealth before they lose their positions of power. For the PEOPLE BY THE PEOPLE!!! Those word ring a bell?