Tuesday, October 12, 2004

JOBS Act to Extend Production Tax Credit for Renewables to 2006

The New York Times is reporting today that the Senate approved another important tax bill yesterday. The American Jobs Creation Act of 2004 (or the JOBS Act), passed the Senate 69-to-17, following approval in the House on Wednesday. Among numerous other tax credits, Section 413 of H.R. 4520 would extend the 1.5 cent/KWh Production Tax Credit (PTC) for renewable energy sources until Dec. 31, 2006, one year further than the extension provided in H.R. 1403, which was just signed into law last week by President Bush.

Renewable Energy Access is also reporting that the bill was enlarged during the House/Senate conference to include a wider range of renewable energy sources, including geothermal energy.

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