H.R. 1821 would amend the Internal Revenue Code of 1986 to modify the rules relating to clean energy renewable bonds.
Detailed Summary
Clean Renewable Energy for Public Power Act of 2007 - Amends Internal Revenue Code provisions allowing a tax credit for holders of clean renewable energy bonds (CREBs) to: (1) eliminate allocation limitations on such bonds; (2) reduce from 95 to 90% the amount of CREB proceeds required for capital expenditures; (3) redefine "qualified project" and "public power entity" for CREB purposes; (4) repeal the national limitation on CREBs and arbitrage rules applicable to such bonds; and (5) extend through 2013 the authority for issuing CREBs.
Status of the Legislation
Latest Major Action: 3/29/2007: Referred to House committee. Status: Referred to the House Committee on Ways and Means.
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