S. 3679, A bill to amend the Internal Revenue Code of 1986 to expand the credit for renewable electricity production to include electricity produced from biomass for on-site use

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S. 3679 would amend the Internal Revenue Code of 1986 to expand the credit for renewable electricity production to include electricity produced from biomass for on-site use.

Detailed Summary

Amends the Internal Revenue Code to modify the tax credit for producing electricity from closed or open-loop biomass facilities equipped with a metering device to determine electricity consumption or sale to allow a tax credit after 2008 for electricity produced and consumed at such facilities and to extend the credit period for such production.

Status of the Legislation

Latest Major Action: 10/2/2008: 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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