Biodiesel Tax Incentive Reform and Extension Act of 2009 (S.B. 1589) Current Status
: Referred to Committee (August 6, 2009). Sponsored by Senators Maria Cantwell and Charles Grassley, the Bill would
modify the current biodiesel fuel excise tax credit with a biodiesel producer's credit of approximately $1 per gallon produced.
The tax credit would not require mixing with taxable fueld. The bill would also extend the tax credit program (which
currently expires at the end of 2009) for an additional five years.
Renewable Energy Act (H.R. 890) Current Status:
Referred to the House Committee on Energy and Commerce (February 4, 2009). Sponsored by Representative Edward
Markey, the Bill would impose a federal renewable energy standard that would require 25% of U.S. electric production to come
from defined renewable sources by 2025.
Secure, Affordable Thermal Energy Act (S. 1643) Current Status
: Referred to the Senate Finance Committee (August 6, 2009) Sponsored by Senators Olympia Snowe and Jeff
Bingaman, the Bill would create a 30 percent tax credit for costs associated with converting from a fuel oil to natural
gas or biomass heating system. The credit is capped at $3,500 ($4,000 in the case of biomass stoves). To qualify,
the replacement equipment must be energy efficientm meeting specified AFUE ratings. The Bill would authorize bonus depreciation
for property installed before 2012, in the case of business taxpayers, allowing them to immediately expense half the cost
of qualifying property, depreciating the remaining balance over the typical cost-recovery period. The Bill would also
allow school systems to finance natural gas and biomass conversions with Qualified Energy Conservation Bonds.
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Jonathan B. Wilson is an Atlanta attorney at the law firm of Taylor English Duma LLP. Jonathan B. Wilson
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