News

Congress Extends Solar Investment Tax Credit and Wind Energy Production Tax Credit for an Additional Year
December 12, 2006

The Production Tax Credit (PTC) for wind and other renewable energy technologies and the Investment Tax Credit for Solar Technologies will both be extended for one additional year – through December 31, 2008 – as part of a tax and trade policy bill passed during the closing hours of the 109th Congress. The bill also includes a one-year extension of the federal R&D tax credit and an additional $400 million for the Clean Renewable Energy Bonds through 2008. It was on Monday of this week that the United States Senate approved the “Tax Relief and Health Care Act of 2006” (H.R. 6111) by a vote of 79-9, thus clearing the measure for President Bush's signature. The President is expected to soon sign the measure into law.

For further information, please see http://www.ncsc.ncsu.edu/news/news_story.cfm?ID=269.