Senate tax plan seen favorable to cogenerators
Senate tax reform proposals to encourage cogeneration feature a 10-year depreciation period, a slight reduction in corporate tax rates, a 5% cut in minimum corporate taxes, and a 12-month extension of the effective date of reform. Both the Senate and House versions eliminate the 10% Investment Tax Credit which many consider economically crucial for a number of projects. The Senate proposal does provide a cash refund at 70% for companies which meet the requirements. Cogeneration industry lobbyists will continue their efforts to retain incentives. Although more favorable to cogenerators than the House version, the Senate proposal discriminates between generating equipment and other capital investments. The bill should move to conference and be ready for approval by both houses in September.
- OSTI ID:
- 5858064
- Journal Information:
- Energy User News; (United States), Journal Name: Energy User News; (United States) Vol. 11:11; ISSN EUSND
- Country of Publication:
- United States
- Language:
- English
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Related Subjects
290800* -- Energy Planning & Policy-- Heat Utilization-- (1980-)
293000 -- Energy Planning & Policy-- Policy
Legislation
& Regulation
COGENERATION
DEUS
ENERGY SYSTEMS
FINANCIAL INCENTIVES
GOVERNMENT POLICIES
INVESTMENT
LAWS
LEGISLATION
POWER GENERATION
STEAM GENERATION
TAX CREDITS
TAX LAWS