SECTION 1603 PROGRAM COULD BE EXTENDED BY LAME DUCK CONGRESS
Congress may add legislation to extend the expiring Section 1603 grant program to a bill to extend the Bush administration’s income tax relief measures, according to some media outlets. Bloomberg’s New Energy Finance reports that Scott Brown, chief executive officer of New Energy Capital Corporation believes the Section 1603 program has a good shot at being included in a tax extenders package that could be considered by Congress during the lame duck session. Additionally, Senator Max Baucus, D-Mont., told North American Windpower that he considers extending the Section 1603 program a priority and that he would work to have legislation passed in December or January. The chances of an extension for the Section 1603 program passing in the lame duck session are uncertain at this time.
Tune in to the November 23 Tax Credit Tuesday podcast to hear Michael J. Novogradac, CPA, discuss the prospects for this proposal and the prospects for the tax extenders package in general.