Congress May Extend Energy Tax Credits
Extension of various tax credits relating to energy may come up in the US Congress in the coming weeks, according to a blog posting on the Advanced Energy Economy website, citing several sources on Capitol Hill.
The following tax credit provisions that expired at the end of 2013 are up for discussion:
-Renewable Electricity Production Tax Credit (PTC; Section 45) with option to claim the Business Energy Investment Tax Credit (ITC 48) instead. The PTC ended on January 1 without Congressional action.
-Replace the ITC (Section 48) placed-in-service qualifying deadline with a commence construction standard.
-Energy-Efficient Appliance Manufacturing Credit (45M).
Photo: Wind farm via Shutterstock
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