S. 727 · 109th Congress
Tax Incentives for the Natural Gas Price Reduction Act of 2005
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Never voted on. It didn't reach a floor vote before the 109th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
R
AlexanderSponsor2 cosponsors · 1 D, 1 R
1 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
Tax Incentives for the Natural Gas Price Reduction Act of 2005 - Amends the Internal Revenue Code to allow a tax credit for: (1) investment in combined heat and power system property; (2) 30 percent of qualified photovoltaic property or solar heating property expenditures, up to $7,500; (3) 20 percent of qualified fuel cell property installed in residences…
What it does: CRS summary · Introduced in Senate · Apr 6, 2005
Tax Incentives for the Natural Gas Price Reduction Act of 2005 - Amends the Internal Revenue Code to allow a tax credit for: (1) investment in combined heat and power system property; (2) 30 percent of qualified photovoltaic property or solar heating property expenditures, up to $7,500; (3) 20 percent of qualified fuel cell property installed in residences and businesses; (4) up to 20 percent for qualified energy efficiency improvements to existing homes; (5) the installation of energy efficient property installed in new homes; (6) energy efficient appliances; and (7) investment in qualifying gasification combined cycle technology facilities.
Increases the energy tax credit for solar equipment to 30 percent in 2006 through 2010.
Extends until 2007 the tax credit for the production of electricity from renewable resources.
Permits specified organizations, including tax-exempt organizations, public utilities, States and local governments, Indian tribal governments, or the Tennessee Valley Authority (TVA) to transfer tax credit amounts for investment in gasification combined cycle technology facilities to any person without regard to the tax-exempt status of such person.
Allows a tax deduction for the cost of energy efficient commercial building property. Limits the amount of such deduction to $1.50 times the square footage of the building.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Tax Incentives for the Natural Gas Price Reduction Act of 2005
Latest action (Apr 6, 2005): Read twice and referred to the Committee on Finance.
Policy area: Taxation · Origin: Senate · Introduced: Apr 6, 2005
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.