H.R.7060 - Renewable Energy and Job Creation Tax Act of 2008

To amend the Internal Revenue Code of 1986 to provide incentives for energy production and conservation, to extend certain expiring provisions, to provide individual income tax relief, and for other purposes. view all titles (2)

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All Bill Titles

  • Short: Renewable Energy and Job Creation Tax Act of 2008 as introduced.
  • Official: To amend the Internal Revenue Code of 1986 to provide incentives for energy production and conservation, to extend certain expiring provisions, to provide individual income tax relief, and for other purposes. as introduced.

Bill's Views

  • Today: 61
  • Past Seven Days: 249
  • All-Time: 6,739
 
Introduced
 
House
Passed
 
Senate
Passes
 
President
Signs
 

 
09/24/08
 
09/26/08
 
 
 
 
 

Official Bill Text Comment on about 156 Pages

Sponsor

Representative

Charles Rangel

D-NY

No Co-Sponsors
 

Latest Vote

Result: Passed - September 26, 2008

Roll call number 649 in the House

Question: On Passage: H R 7060 Renewable Energy and Job Creation Tax Act of 2008

Required percentage of 'Aye' votes: 1/2 (50%)
Percentage of 'aye' votes: 59%
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Democrats Voting 'Aye'

Neil Abercrombie
Rep. Gary Ackerman [D, NY-5]
Thomas Allen
Rep. Jason Altmire [D, PA-4]
Rep. Robert Andrews [D, NJ-1]
Michael Arcuri
Rep. Joe Baca [D, CA-43]
Brian Baird
Rep. Tammy Baldwin [D, WI-2]
Rep. John Barrow [D, GA-12]
Melissa Bean
Rep. Xavier Becerra [D, CA-31]
Rep. Shelley Berkley [D, NV-1]
Rep. Howard Berman [D, CA-28]
Robert Berry
Rep. Sanford Bishop [D, GA-2]
Rep. Timothy Bishop [D, NY-1]
Rep. Earl Blumenauer [D, OR-3]
Rep. Dan Boren [D, OK-2]
Rep. Leonard Boswell [D, IA-3]
Frederick Boucher
Allen Boyd
Nancy Boyda
Rep. Robert Brady [D, PA-1]
Rep. Bruce Braley [D, IA-1]
Rep. Corrine Brown [D, FL-3]
Rep. George Butterfield [D, NC-1]
Rep. Lois Capps [D, CA-23]
Rep. Michael Capuano [D, MA-8]
Rep. Dennis Cardoza [D, CA-18]
Rep. Russ Carnahan [D, MO-3]
Christopher Carney
Rep. André Carson [D, IN-7]
Rep. Kathy Castor [D, FL-11]
Donald Cazayoux
Rep. Ben Chandler [D, KY-6]
Travis Childers
Rep. Yvette Clarke [D, NY-11]
Rep. William Clay [D, MO-1]
Rep. Emanuel Cleaver [D, MO-5]
Rep. James Clyburn [D, SC-6]
Rep. Steve Cohen [D, TN-9]
Rep. John Conyers [D, MI-14]
Rep. Jim Cooper [D, TN-5]
Rep. Jerry Costello [D, IL-12]
Rep. Joe Courtney [D, CT-2]
Robert Cramer
Rep. Joseph Crowley [D, NY-7]
Rep. Henry Cuellar [D, TX-28]
Rep. Danny Davis [D, IL-7]
Lincoln Davis
Rep. Susan Davis [D, CA-53]
Artur Davis
Rep. Diana DeGette [D, CO-1]
William Delahunt
Rep. Rosa DeLauro [D, CT-3]
Rep. Norman Dicks [D, WA-6]
Rep. John Dingell [D, MI-15]
Rep. Lloyd Doggett [D, TX-25]
Rep. Joe Donnelly [D, IN-2]
Rep. Michael Doyle [D, PA-14]
Thomas Edwards
Rep. Keith Ellison [D, MN-5]
Brad Ellsworth
Rahm Emanuel
Rep. Eliot Engel [D, NY-17]
Rep. Anna Eshoo [D, CA-14]
Bob Etheridge
Rep. Sam Farr [D, CA-17]
Rep. Chaka Fattah [D, PA-2]
Rep. Bob Filner [D, CA-51]
Bill Foster
Rep. Barney Frank [D, MA-4]
Rep. Gabrielle Giffords [D, AZ-8]
Sen. Kirsten Gillibrand [D, NY]
Rep. Charles Gonzalez [D, TX-20]
Barton Gordon
Rep. Al Green [D, TX-9]
Rep. Raymond Green [D, TX-29]
Rep. Raul Grijalva [D, AZ-7]
John Hall
Phil Hare
Rep. Jane Harman [D, CA-36]
Rep. Alcee Hastings [D, FL-23]
Stephanie Herseth Sandlin
Rep. Brian Higgins [D, NY-27]
Baron Hill
Rep. Maurice Hinchey [D, NY-22]
Rep. Rubén Hinojosa [D, TX-15]
Rep. Mazie Hirono [D, HI-2]
Paul Hodes
Rep. Tim Holden [D, PA-17]
Rep. Rush Holt [D, NJ-12]
Rep. Michael Honda [D, CA-15]
Darlene Hooley
Rep. Steny Hoyer [D, MD-5]
Rep. Jay Inslee [D, WA-1]
Rep. Steve Israel [D, NY-2]
Rep. Jesse Jackson [D, IL-2]
Rep. Sheila Jackson-Lee [D, TX-18]
William Jefferson
Rep. Eddie Johnson [D, TX-30]
Rep. Henry Johnson [D, GA-4]
Steve Kagen
Paul Kanjorski
Rep. Marcy Kaptur [D, OH-9]
Patrick Kennedy
Rep. Dale Kildee [D, MI-5]
Carolyn Kilpatrick
Rep. Ronald Kind [D, WI-3]
Ron Klein
Rep. Dennis Kucinich [D, OH-10]
Nicholas Lampson
Rep. James Langevin [D, RI-2]
Rep. Rick Larsen [D, WA-2]
Rep. John Larson [D, CT-1]
Rep. Barbara Lee [D, CA-9]
Rep. Sander Levin [D, MI-12]
Rep. John Lewis [D, GA-5]
Rep. Daniel Lipinski [D, IL-3]
Rep. David Loebsack [D, IA-2]
Rep. Zoe Lofgren [D, CA-16]
Rep. Nita Lowey [D, NY-18]
Rep. Stephen Lynch [D, MA-9]
Tim Mahoney
Rep. Carolyn Maloney [D, NY-14]
Rep. Edward Markey [D, MA-7]
James Marshall
Rep. Jim Matheson [D, UT-2]
Rep. Doris Matsui [D, CA-5]
Rep. Carolyn McCarthy [D, NY-4]
Rep. Betty McCollum [D, MN-4]
Rep. James McDermott [D, WA-7]
Rep. James McGovern [D, MA-3]
Rep. Mike McIntyre [D, NC-7]
Rep. Jerry McNerney [D, CA-11]
Michael McNulty
Kendrick Meek
Rep. Gregory Meeks [D, NY-6]
Charles Melancon
Rep. Michael Michaud [D, ME-2]
Rep. George Miller [D, CA-7]
Rep. Bradley Miller [D, NC-13]
Harry Mitchell
Alan Mollohan
Dennis Moore
Rep. Gwen Moore [D, WI-4]
Rep. James Moran [D, VA-8]
Patrick Murphy
Rep. Christopher Murphy [D, CT-5]
John Murtha
Rep. Jerrold Nadler [D, NY-8]
Rep. Grace Napolitano [D, CA-38]
Rep. Richard Neal [D, MA-2]
James Oberstar
David Obey
Rep. John Olver [D, MA-1]
Solomon Ortiz
Rep. Frank Pallone [D, NJ-6]
Rep. William Pascrell [D, NJ-8]
Rep. Edward Pastor [D, AZ-4]
Rep. Ed Perlmutter [D, CO-7]
Rep. Collin Peterson [D, MN-7]
Earl Pomeroy
Rep. David Price [D, NC-4]
Rep. Nick Rahall [D, WV-3]
Rep. Charles Rangel [D, NY-15]
Rep. Silvestre Reyes [D, TX-16]
Rep. Laura Richardson [D, CA-37]
Ciro Rodriguez
Rep. Mike Ross [D, AR-4]
Rep. Steven Rothman [D, NJ-9]
Rep. Lucille Roybal-Allard [D, CA-34]
Rep. Dutch Ruppersberger [D, MD-2]
Rep. Bobby Rush [D, IL-1]
Rep. Timothy Ryan [D, OH-17]
John Salazar
Rep. Loretta Sanchez [D, CA-47]
Rep. Linda Sánchez [D, CA-39]
Rep. John Sarbanes [D, MD-3]
Rep. Janice Schakowsky [D, IL-9]
Rep. Adam Schiff [D, CA-29]
Rep. Allyson Schwartz [D, PA-13]
Rep. Robert Scott [D, VA-3]
Rep. David Scott [D, GA-13]
Rep. José Serrano [D, NY-16]
Joe Sestak
Carol Shea-Porter
Rep. Brad Sherman [D, CA-27]
Rep. Heath Shuler [D, NC-11]
Rep. Albio Sires [D, NJ-13]
Ike Skelton
Rep. Louise Slaughter [D, NY-28]
Rep. Adam Smith [D, WA-9]
Victor Snyder
Hilda Solis
Zachary Space
Rep. Jackie Speier [D, CA-12]
John Spratt
Rep. Fortney Stark [D, CA-13]
Bart Stupak
Rep. Betty Sutton [D, OH-13]
John Tanner
Ellen Tauscher
Gene Taylor
Rep. Michael Thompson [D, CA-1]
Rep. Bennie Thompson [D, MS-2]
Rep. Edolphus Towns [D, NY-10]
Rep. Niki Tsongas [D, MA-5]
Sen. Mark Udall [D, CO]
Sen. Tom Udall [D, NM]
Rep. Christopher Van Hollen [D, MD-8]
Rep. Nydia Velázquez [D, NY-12]
Rep. Peter Visclosky [D, IN-1]
Rep. Timothy Walz [D, MN-1]
Rep. Debbie Wasserman Schultz [D, FL-20]
Diane Watson
Rep. Melvin Watt [D, NC-12]
Rep. Henry Waxman [D, CA-30]
Rep. Anthony Weiner [D, NY-9]
Rep. Peter Welch [D, VT-0]
Robert Wexler
Charles Wilson
Rep. Lynn Woolsey [D, CA-6]
Rep. David Wu [D, OR-1]
Rep. John Yarmuth [D, KY-3]
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Others Voting 'Aye'

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Others Voting 'Abstain'

 

Official Summary

9/25/2008--Introduced.Renewable Energy and Job Creation Tax Act of 2008 - Amends the Internal Revenue Code to provide tax incentives for energy conservation and production, to extend expiring provisions, and provide for revenue enhancements.Extends the tax credit for producing electricity
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Official Summary

9/25/2008--Introduced.
Renewable Energy and Job Creation Tax Act of 2008 - Amends the Internal Revenue Code to provide tax incentives for energy conservation and production, to extend expiring provisions, and provide for revenue enhancements.
Extends the tax credit for producing electricity from renewable resources:
(1) through 2009 for wind facilities; and
(2) through FY2011 for closed and open-loop biomass, geothermal, small irrigation power, landfill gas, trash combustion, and hydropower facilities. Includes marine and hydrokinetic renewable energy as a renewable resource for purposes of such tax credit. Extends through 2016 the energy tax credit for solar energy, fuel cell, and microturbine property. Allows a new energy tax credit for combined heat and power system property. Increases to $1,500 the credit limitation for fuel cell property. Increases and extends through 2016 the tax credit for residential energy efficient property. Eliminates the limitation on the tax credit for solar electric property. Allows a new tax credit for 30% of expenditures for wind turbines used to generate electricity in a residence and for geothermal heat pumps.
Extends tax deferral provisions for the gain on sales of transmission property by vertically-integrated electric utilities to independent transmission companies approved by the Federal Energy Regulatory Commission (FERC).
Allows a 30% investment tax credit rate for advanced coal-based generation technology projects and increases the maximum credit amounts allocable for such projects to $2.55 billion.
Increases to 30% the investment tax credit rate for coal gasification projects. Extends the excise tax on coal through December 31, 2018. Sets forth special rules for refund claims of coal excise tax by certain coal producers and exporters.
Requires the Secretary of the Treasury to undertake a comprehensive review of Internal Revenue Code provisions that have the largest effects on carbon and other greenhouse gas emissions and provide an estimate of the magnitude of such effects.
Includes cellulosic biofuel within the definition of "biomass ethanol plant property" for purposes of bonus depreciation. Extends through 2009 income and excise tax credits for biodiesel and renewable diesel used as fuel. Increases the rates of such credits.
Disqualifies foreign-produced fuel that is used or sold for use outside the United States from the income and excise tax credits for alcohol, biodiesel, and alternative fuel production.
Allows a new tax credit for the production of qualified plug-in electric drive motor vehicles.
Allows an exclusion from the heavy truck excise tax for idling reduction devices and advanced insulation used in certain heavy trucks and trailers.
Allows employees to exclude reimbursements for bicycle commuting expenses from gross income.
Increases and extends the tax credit for residential and commercial alternative fuel refueling property expenditures.
Extends the tax credit for nonbusiness energy property expenditures through 2008. Includes energy-efficient biomass fuel stoves as property eligible for such tax credit.
Extends through 2013 the tax deduction for energy efficient commercial building expenditures.
Modifies tax credit amounts for energy efficient household appliances produced after 2007.
Allows an accelerated 10-year recovery period for the depreciation of qualified smart electric meters and smart electric grid systems. Extends through FY2012 the authority to issue tax-exempt green building and sustainable design project bonds.
Extends through 2009:
(1) the tax deduction for state and local sales taxes in lieu of state and local income taxes;
(2) the tax deduction for qualified tuition and related expenses;
(3) the exemption from withholding of tax of interest-related and short-term capital gain dividends received from a regulated investment company (RIC) and the special rule for RIC stock held in the estate of nonresidents;
(4) tax-free distributions from individual retirement plans for charitable purposes;
(5) the tax deduction for certain expenses of elementary and secondary school teachers;
(6) the inclusion of an RIC within the definition of "qualified investment entity" for income tax purposes; and
(7) the additional standard tax deduction for real property taxes. Extends through 2009:
(1) the tax credits for increasing research activities, Indian employment, railroad track maintenance, and the new markets tax credit;
(2) accelerated depreciation for qualified leasehold and restaurant improvements, for motorsports racing track facilities, and for business property on Indian reservations;
(3) expensing of environmental remediation costs and certain film and television production costs;
(4) the tax deduction for income attributable to domestic production activities in Puerto Rico;
(5) special rules for related controlled foreign corporations and for the tax treatment of certain payments to tax-exempt organizations by a controlled subsidiary;
(6) issuance authority for qualified zone academy bonds;
(7) tax incentives for investment in the District of Columbia;
(8) the economic development credit for American Samoa;
(9) the expanded tax deductions for charitable contributions of food and book inventories by noncorporate taxpayers;
(10) the special rule for reductions in the basis of S corporation stock for charitable contributions;
(11) work opportunity tax credit eligibility for Hurricane Katrina employees (through August 28, 2009);
(12) the subpart F income exemption for active financing income; and
(13) the increase in alcohol excise taxes payable to Puerto Rico and the Virgin Islands.
Makes permanent the authority of the Internal Revenue Service (IRS) to:
(1) conduct undercover operations; and
(2) disclose tax return information related to terrorist activities.
Lowers in 2008 (from $10,000 to $8,500) the earned income threshold amount for determining the refundable portion of the child tax credit.
Modifies certain provisions relating to the tax deduction for domestic film and television productions.
Exempts from the excise tax on bows and arrows certain arrow shafts. Modifies the standards for imposing penalties on tax return preparers for understatements of tax to require:
(1) substantial authority for a position with respect to an item on a tax return if such position was not disclosed with the return; and
(2) a reasonable basis for a position that was disclosed with the return. Requires tax return preparers to have a reasonable belief that a position with respect to a tax shelter or a reportable transaction (a transaction having a potential for tax avoidance or evasion) will more likely than not be sustained on its merits.
Provides for revenue enhancements by:
(1) reducing by 3% the tax deduction for income attributable to domestic production activities for taxpayers with income derived from activities related to oil, gas, or any primary products thereof;
(2) conforming the tax treatment of foreign oil and gas extraction income and foreign oil related income for purposes of the foreign tax credit;
(3) including within the reporting requirements of investment brokers the adjusted basis of any publicly traded security owned by customers of such brokers;
(4) extending through 2009 the 0.2% Federal Unemployment Tax Act (FUTA) surtax;
(5) requiring the inclusion in gross income of employee compensation deferred under compensation plans of certain foreign business entities;
(6) delaying until 2017 the application of special rules for the worldwide allocation of interest for purposes of computing the limitation on the foreign tax credit; and
(7) increasing the estimated tax payments of certain large corporations in the third quarter of 2013.


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