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BILL INTRODUCED TO CREATE INVESTMENT TAX CREDIT FOR EFFICIENT ENERGY TRANSMISSION

Wednesday, May 13, 2009 - 3:45AM

House Majority Leader Steny Hoyer, D-Md., yesterday introduced two bills to encourage investment in more efficient energy transmission. H.R. 2348, the Financing Advanced and Superconducting Transmission Act of 2009, would accelerate depreciation from 20 years to 5 years for advanced cables. It would also provide a 30 percent investment tax credit for advanced cables and related infrastructure for transmission distances of less than 150 miles, and a 50 percent credit for longer distances. H.R. 2374, the Advanced Cable Deployment Authorization Act of 2009, would provide grants and loan guarantees toward expansion of U.S. facilities that make superconducting electrical cable and other efficient wires. Click here for a fact sheet about H.R. 2347 and H.R. 2348.

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