Energy Tax Provisions in the “Emergency Economic Stabilization Act of 2008” October 1, 2008

Renewables ($9.8b)

  • Production
    tax credit
  • Business
    & residential investment credits (solar, fuel cells, etc.)
  • Biodiesel
    and renewable diesel
  • Clean
    Renewable Energy Bonds

Vehicles ($1b)

  • Plug-in
    vehicle credit
  • Auxiliary
    power units
  • Alternative
    refueling stations

Conservation/Efficiency ($3.5b)

  • Efficient
    buildings
  • Smart
    meters
  • Efficient
    appliances
  • Conservation
    Bonds

Carbon Mitigation/Fuels ($2.6b)

  • Clean
    coal investment credits
  • Black
    Lung restructuring
  • CO2
    sequestration credit
  • Refinery
    expensing

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Offsets:

  • Freeze
    Section 199 for all oil and gas activity ($4.9b)
  • FUTA
    surtax extension ($1.5b)
  • FOGEI/FORI ($2.2b)
  • Basis
    Reporting ($6.7b)
  • Oil
    Spill Liability Trust Fund ($1.7b)