s 31 44177 1179979200 false 1179979200 1508 429 110 300037

5/24/2007--Introduced.<br/>Clean Energy Production Tax Incentives Act of 2007 - Amends the Internal Revenue Code to: (1) increase the rate of the tax credit for producing electricity from renewable resources and extend such credit through 2018; (2) extend the national limitation amount for clean renewable energy bonds through 2017; (3) extend the advanced coal project tax credit; and (4) extend through 2018 the tax credit for investment in qualified fuel cell and microturbine property and solar property.<br/>Allows new tax credits for the capture and storage or use of carbon dioxide and for investment in clean coal energy bonds, carbon dioxide capture bonds, and electric transmission property and bonds.<br/>Treats certain controlled foreign corporations created or organized under the laws of a tax haven country (as identified by the Secretary of the Treasury) as domestic corporations for income tax purposes.<br/>Includes in foreign base company income, for purposes of determining the foreign trade income of controlled foreign corporations, imported property income (income attributable to property manufactured outside of the United States and imported for sale into the United States). Changes the effective date of certain loss deferral rules applicable to leases entered into with a foreign person or entity on or before March 12, 2004. Sets forth rules for the application of the economic substance doctrine in evaluating transactions with tax implications. Imposes a penalty for understatements of tax due to transactions lacking economic substance. Denies a tax deduction for interest on underpayments of tax due to transactions lacking economic substance.

1179979200 2007-05-24 Fri Nov 07 15:31:25 -0600 2008 introduced 44177 'act':6 'tax':4 '2007':8 'clean':1 'energi':2 'incent':5 'product':3 50728 short introduced 44177 'tax':16 '1986':10 'bill':2 'code':8 'amend':4 'clean':24 'renew':21 'sourc':26 'energi':22,25 'expand':14 'extend':12 'incent':17 'intern':6 'purpos':30 'revenu':7 'product':19 'various':15 47059 official action 44177 1179979200 Thu May 24 00:00:00 -0500 2007 114186 Read twice and referred to the Committee on Finance. D000432 1942-05-14 8072 322 Hart Senate Office Building http://dorgan.senate.gov/contact/contact_form.cfm 202-224-1193 Byron 'd':4 'nd':5 'sen':1 'byron':2,6,8 'dorgan':3,7,9 M 300037 Dorgan Byron_Dorgan L. Sen. Byron Dorgan [D, ND] 4833 N00004615 8285 Democrat 202-224-2551 Lutheran ND Byron Dorgan 4.73684210526316 http://dorgan.senate.gov senatordorgan action 44177 1179979200 Thu May 24 00:00:00 -0500 2007 114186 Read twice and referred to the Committee on Finance. introduced 44177 1179979200 Thu May 24 00:00:00 -0500 2007 114185