PTC Gets Extended
October 2008
As part of the $700 billion Emergency Economic Stabilization Act of 2008, Congress approved the Energy Improvement and Extension Act of 2008. Among other important extensions, the Wind Facility Production Tax Credit was extended, in its current form, from January 1, 2009 to January 1, 2010. The Act also raised the Income Tax Credit for Biofuels from $.50 to $1.00 per gallon of Biodiesel used by the Taxpayer, and extended the credit to December 31, 2009.
If you have any questions, please contact Dan Yarano at 612-492-7149 or dyarano@fredlaw.com, or Todd Taylor at 612-492-7355 or ttaylor@fredlaw.com.
For more information on the Emergency Economic Stabilization Act of 2008, see our article entitled “President Bush Signs the Emergency Economic Stabilization Act of 2008,” FredNEWS: Bank & Finance, October 3, 2008.