Summary

A bill to amend the Internal Revenue Code of 1986 to extend the renewable energy credit. Read More

Status

This bill was introduced on Mar 15, 2012, in a previous session of Congress, but was not passed.

Bill Text

A BILL

To amend the Internal Revenue Code of 1986 to extend the renewable energy credit.

Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

This Act may be cited as the ``American Energy and Job Promotion Act''.

SEC. 2. EXTENSION OF RENEWABLE ENERGY CREDIT.

(a) Wind.--Paragraph (1) of section 45(d) of the Internal Revenue Code of 1986 is amended by striking ``January 1, 2013'' and inserting ``January 1, 2015''. (b) Biomass, Geothermal, Landfill Gas, Trash, Hydropower, and Marine and Hydrokinetic.--Each of the following provisions of section 45(d) of the Internal Revenue Code of 1986 is amended by striking ``January 1, 2014'' and inserting ``January 1, 2015'': (1) Clauses (i) and (ii) of paragraph (2)(A). (2) Clauses (i)(I) and (ii) of paragraph (3)(A). (3) Paragraph (4). (4) Paragraph (6). (5) Paragraph (7). (6) Subparagraphs (A) and (B) of paragraph (9). (7) Subparagraph (B) of paragraph (11). <all>

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State: CA

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Organizations Supporting

Today, sixty percent of a wind turbine’s value is now produced here in America, compared to 25% prior to 2005. Unfortunately, if Congress allows the PTC for wind to expire, jobs in the wind industry will be cut in half, meaning a loss of almost 40,000 American jobs. The PTC has effectively expired for the wind manufacturing sector, as PTC uncertainty is making businesses hesitant to plan future US wind projects. American wind manufacturers have essentially zero orders for 2013, and layoffs in the development community have already started. Therefore, Congress must act now to keep this American manufacturing success story going.

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Bill Summary

S. 2200the Saving the Family Farm Act S. 2202the Preparedness and Resilience Foundation Act