Renewable+Energy+Assistance+Act+of+2007

=media type="file" key="House Bill 3807 (GFMM).mp3"  = = = = The Renewable Energy Assistance Act of 2007   = == [|House Bill Number 3807]  ==

[[image:photo_hires.jpg width="241" height="279" align="center" caption="Gabrielle Giffords"]]


Summary:
 This bill amends the International Revinue Code of 1986 by giving more tax credits to people who use more energy efficient products. This bill also extends the peroid of tax credits through 2016. Also, this bill eliminates the dollar limitation on the tax credit for using energy eficient products as well as allowing public electric utility property to qualify for the energy tax credit .  Further more, it will  extend   <span style="font-family: 'Comic Sans MS',cursive;"><span style="color: rgb(9, 0, 245);">the tax credit for nonbusiness energy property   <span style="font-family: 'Comic Sans MS',cursive;"><span style="color: rgb(9, 0, 245);">through 2015. <span style="font-family: 'Comic Sans MS',cursive;"><span style="color: rgb(9, 0, 245);"> <span style="font-family: 'Comic Sans MS',cursive;"><span style="color: rgb(9, 0, 245);">Lastly, it modifies energy efficient appliance tax credit amounts for appliances produced after 2007. <span style="font-family: 'Comic Sans MS',cursive;"> <span style="font-family: 'Comic Sans MS',cursive;">

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<span style="font-family: 'Comic Sans MS',cursive; color: rgb(250, 0, 0);">History:
<span style="font-family: 'Comic Sans MS',cursive;"><span style="color: rgb(1, 24, 233);"> The history started off by saying that users who use energy eficient products, like using energy-efficient windows, insulation, light bulbs, doors, <span style="color: rgb(1, 24, 233);">roofs, <span style="font-family: 'Comic Sans MS',cursive;"> <span style="color: rgb(1, 24, 233);">residential small wind turbine systems  <span style="color: rgb(1, 24, 233);">,   <span style="font-family: 'Comic Sans MS',cursive;"><span style="color: rgb(1, 24, 233);"> heating, and co <span style="color: rgb(1, 24, 233);">oling equipmen, will give them a tax credit for their use of these energy eficient products. <span style="color: rgb(1, 24, 233);">The tax credit for home improvement purchases is limited to $500 <span style="color: rgb(1, 24, 233);"> The time <span style="color: rgb(1, 24, 233);"> for this tax change has increased greatl  <span style="font-family: 'Comic Sans MS',cursive;"><span style="color: rgb(1, 24, 233);">y through out the history of this issue, as well as the intensity of the tax credit. Users of these energy efficient products can recieve up to a 30% tax credit or up to $7,500 of your tax. <span style="font-size: 110%; font-family: 'Comic Sans MS',cursive;"><span style="color: rgb(1, 24, 233);">Tax credits for these residential products, which had expired at the end of 2007, will now be available for improvements made during 2009. However, improvements made during 2008 are not eligible for a tax credit. <span style="font-family: 'Comic Sans MS',cursive;"><span style="color: rgb(1, 24, 233);"> <span style="font-family: 'Comic Sans MS',cursive;"> <span style="font-family: 'Comic Sans MS',cursive;"> <span style="font-family: 'Comic Sans MS',cursive;">

<span style="font-family: 'Comic Sans MS',cursive;"><span style="color: rgb(250, 0, 0);">People who are effected by this bill :
<span style="font-family: 'Comic Sans MS',cursive;"><span style="color: rgb(9, 0, 245);">Everyone who is a resident of the United States can be effected by this bill. They are effected by this bill if they use energy efficient products, such as Energy Star. They are effected because they get a tax break for meeting the International Revenue Code for energy tax breaks. If you do not use energy efficient, you cannot be effected by this bill. Certain people will be even more effected by this bill, depending on the amount of energy efficient products used. For <span style="font-family: 'Comic Sans MS',cursive;"><span style="color: rgb(9, 0, 245);">   <span style="font-family: 'Comic Sans MS',cursive;"><span style="color: rgb(9, 0, 245);">example, if you used a hybrid car you can have a tax break that is larger than you will get if you use one Compact Fluorescent Light Bulb. <span style="font-family: 'Comic Sans MS',cursive;"> <span style="font-family: 'Comic Sans MS',cursive;">

<span style="color: rgb(255, 0, 0);">Bibliography:
===<span style="color: rgb(255, 0, 0);"><span class="Apple-style-span" style="color: rgb(0, 0, 0); font-family: 'times new roman'; font-size: 16px; font-weight: normal; line-height: normal;">code "Energy Star Tax Credits." __Energy Star__. 7 Dec. 2008 <http://www.energystar.gov/ index.cfm?c=products.pr_tax_credits>. code code "Energy Tax Credits." __About Dot Com__. 7 Dec. 2008 <http://taxes.about.com/od/deductionscredits/qt/ energytaxcredit.htm>. code code "Tax Breaks." __Depatment of Energy__. 21 Oct. 2008. 4 Dec. 2008 <http://www.energy.gov/ taxbreaks.htm>. code  ===