H.R.5839 - To amend the Internal Revenue Code of 1986 to clarify the types of energy conservation subsidies provided by public utilities eligible for income exclusion.

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  • Official: To amend the Internal Revenue Code of 1986 to clarify the types of energy conservation subsidies provided by public utilities eligible for income exclusion. as introduced.

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Introduced
 
House
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Senate
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President
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07/22/10
 
 
 
 
 
 
 

Official Summary

Amends the Internal Revenue Code, with respect to the income tax exclusion for energy conservation subsidies, to define \"subsidy\" to include amounts received by a customer from a public utility to: (1) pay for electricity generated from an energy conservation measure under a net metering

Official Summary

Amends the Internal Revenue Code, with respect to the income tax exclusion for energy conservation subsidies, to define \"subsidy\" to include amounts received by a customer from a public utility to:
(1) pay for electricity generated from an energy conservation measure under a net metering or net billing program; or
(2) pay for renewable energy credits attributable to an energy conservation measure. Limits the excludable amount of any subsidy for renewable energy credits to $2,000 times the whole number of years worth of renewable energy credits that are sold by the customer.

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