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2/14/2008--Introduced.<br/>American Renewable Energy Act of 2008 - Amends the Public Utility Regulatory Policies Act of 1978 to require that electric utilities that sell electricity to consumers generate or purchase a specified percentage (increasing from 2% in 2010 to 20% in 2024) of their electricity from renewable resources (e.g., solar, wind, geothermal, ocean, biomass, landfill gas, or incremental hydropower or geothermal energy).<br/>Renewable Energy Tax Incentives Act - Amends the Internal Revenue Code to provide tax incentives for investment in renewable energy sources and conversation, including by: (1) extending the tax credit for producing electricity from renewable resources, the energy tax credit, the small ethanol producer tax credit, and the tax credits for investment in clean new renewable energy bonds, biodiesel used as fuel, alternative fuel motor vehicles and refueling property, nonbusiness energy property, and new energy efficient homes, and the tax deduction for energy efficient commercial buildings; (2) allowing accelerated depreciation of qualified energy management devices and certain reuse and recycling property; and (3) allowing new tax credits for residential wind property, production of cellulosic biomass alcohol, fossil free alcohol production, and plug-in electric drive motor vehicles.<br/>Extends the tariff duty on ethanol until 2011. Denies major integrated oil companies the tax deduction for income attributable to domestic production of oil, natural gas, and related products. Increases and extends through 2017 the Oil Spill Liability Trust Fund tax. Imposes taxes on: (1) crude oil and natural gas produced from the outer Continental Shelf in the Gulf of Mexico; and (2) taxable fuels in foreign trade zones. Revises tax rules relating to: (1) penalties for sale of fuel failing to meet Environmental Protection Agency (EPA) regulations; (2) tax credits for fuels produced outside the United States and foreign oil and gas extraction income; (3) treatment of alcohol and biodiesel fuel mixtures as taxable fuels; (3) foreign corporation inversion transactions; (4) leasing of tax-exempt use property to foreign entities; and (5) taxation of U.S. citizens and permanent residents who revoke citizenship or resident status to avoid U.S. taxation (expatriates).<br/>

1202965200 2008-02-14 Fri Nov 07 17:45:20 -0600 2008 introduced 49326 'act':5 'tax':3 'renew':1 'energi':2 'incent':4 59579 false short introduced 49326 'act':4 '2008':6 'renew':2 'energi':3 'american':1 59578 false short introduced 49326 'tax':16 'bill':2 'creat':13 'renew':7,14 'energi':8,15 'extend':11 'incent':17 'nation':6 'purpos':21 'standard':9 'establish':4 57409 false official introduced 49326 1202965200 Thu Feb 14 00:00:00 -0600 2008 145787 K000367 1960-05-25 7588 302 Hart Senate Office Building http://klobuchar.senate.gov/emailamy.cfm 202-228-2186 Amy 'd':4 'mn':5 'ami':2,6,8 'sen':1 'klobuchar':3,7,9 F 412242 Klobuchar Amy_Klobuchar Sen. Amy Klobuchar [D, MN] 4660 N00027500 13148 Democrat 202-224-3244 MN Amy Klobuchar 2.91025641025641 http://klobuchar.senate.gov/ C000127 1958-10-13 7031 511 Dirksen Senate Office Building http://cantwell.senate.gov/contact/ 202-228-0514 Maria 'd':4 'wa':5 'sen':1 'maria':2,6,8 'cantwel':3,7,9 F 300018 Cantwell Maria_Cantwell Sen. Maria Cantwell [D, WA] 3701 N00007836 14762 Democrat 202-224-3441 Roman Catholic WA Maria Cantwell 3.98823529411765 http://cantwell.senate.gov SenatorCantwell S000663 1947-02-21 10613 154 Russell Senate Office Building http://snowe.senate.gov/public/index.cfm?FuseAction=ContactSenatorSnowe.Email 202-224-1946 Olympia 'r':4 'sen':1 'snow':3,7,9 'olympia':2,6,8 F 300091 Snowe Olympia_Snowe J. Sen. Olympia Snowe [R, ME] 4117 N00000480 19460 Republican 202-224-5344 Greek Orthodox ME Olympia Snowe 2.58064516129032 http://snowe.senate.gov/public/ introduced 49326 1202965200 Thu Feb 14 00:00:00 -0600 2008 145787 action 49326 1202965200 Thu Feb 14 00:00:00 -0600 2008 155897 Sponsor introductory remarks on measure. (CR S1059-1061) action 49326 1202965200 Thu Feb 14 00:00:00 -0600 2008 145788 Read twice and referred to the Committee on Finance.