HR 2776 [RE-wrenches]

[Eric Youngren]

This is from a SEIA legislative update that arrived in my inbox 20 minutes
before your message yesterday:

The solar investment tax credit provisions in H.R. 2776 are as follows: 

- Provides an eight-year extension of the existing 30 percent Investment Tax
Credit for businesses under Section 48 of the tax code

- Provides the ability for corporate and personal filers to claim the
Investment Tax Credit against the Alternative Minimum Tax (AMT)
 
- Removes the prohibition barring utilities from using the section 48
Investment Tax Credit

- Provides no extension of the existing 30 percent Investment Tax Credit for
homeowners under Section 25 of the tax code, but eliminates the existing
$2,000 maximum dollar limitation




It's the last item that is in question to me.   The way I interpret it is
that the residential tax credit will still expire in 2008 but the $2000 cap
is removed.   Anyone agree?

Something I read months ago mentioned that if the cap was lifted with this
bill it would be retroactive for installations in 2007,  does anyone know
about this?

Best energy,

Eric Youngren
Rainshadow Solar
Orcas, WA





> -----Original Message-----
> From: Marco Mangelsdorf [mailto:marco at pvthawaii.com]
> Sent: Saturday, August 04, 2007 5:50 PM
> To: RE-wrenches at topica.com
> Subject: HR 2776 [RE-wrenches]
> 
> 
> My quick and cursory look at the just passed House energy bill--HR
> 2776--tells me that we're getting the solar tax credits extended another
> eight years and that's about it.   I couldn't find any other mention about
> the residential solar tax credit being expanded beyond the current paltry
> $2,000 max per year.
> 
> Anyone have any other news on this bill?
> 
> thanks,
> marco
> 
> Marco Mangelsdorf, Ph.D., President
> Electrical Contractor License C-26351
> 69 Railroad Avenue, Suite A-7
> Hilo, Hawaii 96720 USA
> (808) 969-3281, fax 934-7462
> 
> 
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