Solar Manufacturing Jobs Creation Act
In November of 2009, Congressman Thompson and Senators Menendez and Stabenow introduced legislation to include equipment used to manufacture solar energy equipment under Section 48 of the commercial Investment Tax Credit (ITC)
Legislative Text
SEIA Analysis
Solar Manufacutring Jobs Creation Act Talking Points
Treasury Grant Program Extension Talking PointsBill Summary
Solar Manufacturing Jobs Creation Act would add equipment used to manufacture solar energy generating property to the eligible property list of the existing Section 48 commercial solar investment tax credit (ITC). Current law provides a 30% tax credit for solar energy generating property placed in service in the U.S. before January 1, 2017. The bill would allow a 30% credit for investments in equipment placed in service in U.S. manufacturing facilities before January 1, 2017.
The American Recovery and Reinvestment Act of 2009 created a program to provide grants for specified energy property in lieu of tax credits, administered by the Department of the Treasury. The current law commercial solar ITC is eligible for a grant in lieu of the 30% tax credit. Taxpayers may receive a grant for solar energy generating property placed in service before January 1, 2011; as well as for property placed in service after January 1, 2011 if construction began on such property before that date. The bill would make manufacturing equipment eligible for the grant program for property placed in service before January 1, 2011; as well as for property placed in service after January 1, 2011 if pursuant to a written binding contract which was entered into before that date.
SEIA Publications
Press Release November 11, 2009
Press Rrelease November 18, 2009
