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ACT INTRODUCED TO INCREASE PTC, TEBS FOR THERMAL ENERGY

Friday, July 23, 2010 - 4:30AM

Congresswoman Betty McCollum, D-Minn, and Sens. Al Franken, D-Minn., and Kit Bond, R-Mo., on July 21 introduced H.R. 5805, the Thermal Renewable Energy and Efficiency Act of 2010. The Thermal Renewable Energy and Efficiency Act would create a renewable thermal energy production tax credit by expanding the existing production tax credit (PTC) and expand the use of tax exempt bonds so that all of the capital costs associated with thermal energy production would be eligible for tax exempt bond funding. After McCollum introduced the bill, it was referred to three House committees: Energy and Commerce; Ways and Means; and Oversight and Government Reform.

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