H.R. 1596 would amend the Internal Revenue Code of 1986 to provide and extend tax incentives for renewable energy and conservation.
Detailed Summary
Clean and Green Renewable Energy Tax Credit Act of 2007 - Amends the Internal Revenue Code to: (1) extend through 2030 the tax credits for investment in solar energy and qualified fuel cell property; (2) modify the percentage rate for the energy tax credit; (3) extend through 2016 the tax credit for residential energy efficient property expenditures; (4) allow accelerated depreciation of solar energy and fuel cell property; (5) extend through 2013 the tax credit for electricity produced from certain renewable resources; (6) allow an energy tax credit and a residential energy efficient property tax credit for certain equipment which uses wind to generate energy; and (7) extend through 2009 the tax credit for nonbusiness energy property expenditures.
Status of the Legislation
Latest Major Action: 3/20/2007: Referred to House committee. Status: Referred to the House Committee on Ways and Means.
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