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BILL WOULD EXTEND ADVANCED ENERGY MANUFACTURING TAX CREDIT

Wednesday, March 16, 2011 - 7:00AM

Sen. Sherrod Brown, D-Ohio, yesterday introduced legislation to renew the Section 48C Advanced Energy Manufacturing Tax Credit program. S. 591, the Security in Energy and Manufacturing (SEAM) Act, would renew the Advanced Energy Manufacturing Tax Credit program, which provides investment tax credits of 30 percent for facilities that manufacture energy equipment. To be eligible for the tax credit, manufacturers must produce solar, wind and geothermal energy equipment; fuel cells, microturbines and batteries; electric cars; electric grids; energy conservation technologies; and equipment that captures and sequesters carbon dioxide or reduces greenhouse gas emissions. The SEAM Act is cosponsored by Sens. Debbie Stabenow, D-Mich., Maria Cantwell, D-Wash., and Bob Casey, D-Pa. As soon as a copy of the bill is available, it will be posted on the Renewable Energy Legislation page. Tune in to the March 22 Tax Credit Tuesday podcast to hear more about S. 591 and the Section 48C program.

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