The Role of Taxes in Energy Production and Conservation.
Bernadette M. Horton
Bok Engelsk 2010 · Electronic books.
| Omfang | 1 online resource (206 pages)
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| Utgave | 1st ed.
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| Opplysninger | Intro -- Library of Congress Cataloging-in-Publication Data -- Contents -- Preface -- Energy Tax Policy: Issues in the 111th Congress* -- Summary -- Introduction -- Economic Rationale for Intervention in Energy Markets -- Rationale for Intervention in Energy Markets -- Externalities -- Principal-Agent and Informational Inefficiencies -- National Security -- Potential Interventions in Energy Markets -- Taxes as a User Charge -- Current Status of U.S. Energy Tax Policy -- Fossil Fuel Production -- Renewable Energy Production -- Energy Conservation -- Alternative Technology Vehicle Credits -- Other Energy Tax Provisions -- Energy Tax Legislation in the 111th Congress -- The American Recovery and Reinvestment Act of 2009 (P.L. 111-5) -- The President's Fiscal Year 2010 and 2011 Budget Proposals -- American Energy Production and Price Reduction Act (H.R. 3505) -- Carbon Tax / Climate Change45 -- The Tax Extenders Act of 2009 -- Enacted Legislation in the 110th Congress -- Energy Independence and Security Act of 2007 (P.L. 110-140) -- Energy Tax Provisions in the Food, Conservation, and Energy Act of 2008 (P.L. 110-234) -- The Emergency Economic Stabilization Act of 2008 (P.L. 110-343) -- Appendix. Energy Tax Legislation Prior to the 110th Congress -- The Working Families Tax Relief Act of 2004 (P.L. 108-311) -- The American Jobs Creation Act of 2004 (P.L. 108-357) -- The Energy Policy Act of 2005 (P.L. 109-58) -- The Tax Increase Prevention and Reconciliation Act (P.L. 109-222) -- The Tax Relief and Health Care Act of 2006 (P.L. 109-432) -- End Notes -- Tax Expenditures for Energy Production and Conservation* -- I. Introduction and Summary Tables -- II. Description of Present Law -- A. Tax Provisions Relating to Renewable Energy -- 1. Credit for alternative fuel vehicle refueling property (sec. 30C) -- Present Law.. - 1. Tax-exempt bonds for power facilities (secs. 103, 141, and 142).. - 2. Credit for producing coke or coke gas (sec. 45K) -- E. Provisions Relating to Energy Transportation or Transmission -- 1. Cost recovery of certain energy transportation and transmission property (sec. 168(e)(3)) -- In general -- Alaska natural gas pipeline (sec. 168(e)(3)(C)(iii)) -- Natural gas distribution lines (sec. 168(e)(3)(E)(viii)) -- Natural gas gathering lines (sec. 168(e)(3)(C)(iv)) -- Electricity Transmission Property (sec. 168(e)(3)(E)(vii)) -- 2. Five-Year carryback of net operating losses for certain electric utility companies (sec. 172(b)(1)(I)) -- In general -- Certain electric utility company NOLs -- 3. Deferral of gains from the sale of electric transmission property (sec. 451(i)) -- F. Provisions Relating to Coal and Nuclear Energy -- 1. Credit for the production of refined coal (sec. 45) -- In general -- Refined coal used to produce steam -- Refined coal facilities used to produce steam that are placed in service after 2008 -- Refined coal that is steel industry fuel -- 2. Advanced nuclear power production credit (sec. 45J) -- 3. Credit for carbon dioxide sequestration (sec. 45Q) -- 4. Advanced coal project credit (sec. 48A) -- In general -- First round of credit allocations -- Second round of credit allocations -- 5. Gasification investment credit (sec. 48B) -- In general -- First round of credit allocations -- Second round of credit allocations -- 6. Pollution Control Facilities (sec. 169) -- 7. Special rules for nuclear decommissioning costs (sec. 468A) -- In general -- Qualified nuclear decommissioning fund -- G. Provisions Relating to General Energy-Related Projects and Research -- 1. Energy research credit (sec. 41) -- General rule -- Qualified research -- Relation to deduction -- 2. Credit for investment in advanced energy property (sec. 48C) -- H. Miscellaneous Energy Provisions.. - 2. Incentives for alcohol, cellulosic biofuel, biodiesel, renewable diesel, and certain alternative fuels (secs. 40, 40A, 6426, and 6427(e)) -- Overview -- Alcohol and cellulosic biofuel -- Alcohol mixture credits and payments -- Alcohol credit (straight or "neat" alcohol) -- Small ethanol producer credit -- Cellulosic biofuel producer credit -- Alcohol produced from coal and natural gas -- Reduced rate of tax for alcohol fuels produced from natural gas -- Reduced rate of tax for alcohol fuels produced from coal -- Biodiesel -- Biodiesel mixture credit -- Biodiesel credit (straight biodiesel) -- Small agri-biodiesel producer credit -- Biodiesel mixture excise tax credit -- Payments with respect to biodiesel fuel mixtures -- Renewable diesel -- Alternative fuel excise tax credits and payments -- 3. Renewable electricity production credit (sec. 45) -- In general -- Credit amounts and credit period -- In general -- Credit phaseout -- Reduced credit periods and credit amounts -- Other limitations on credit claimants and credit amounts -- Qualified facilities -- Wind energy facility -- Closed-loop biomass facility -- Open-loop biomass (including agricultural livestock waste nutrients) facility -- Geothermal facility -- Solar facility -- Small irrigation facility -- Landfill gas facility -- Trash combustion facility -- Hydropower facility -- Marine and hydrokinetic renewable energy facility -- Taxation of cooperatives and their patrons -- 4. Energy credit (sec. 48) -- In general -- Special rules for solar energy property -- Fuel cells and microturbines -- Geothermal heat pump property -- Small wind property -- Combined heat and power property -- Election of energy credit in lieu of sec. 45 production tax credit -- 5. Clean renewable energy bonds and new clean renewable energy bonds (secs. 54 and 54C) -- CREBs -- New CREBs.. - 6. Five-year cost recovery of certain energy property (sec. 168) -- In general -- Certain energy property -- Biomass property -- 7. Special allowance for cellulosic biofuel plant property (sec. 168(l)) -- B. Provisions Relating to Energy Conservation -- 1. Credit for nonbusiness energy property (sec. 25C) -- In general -- Building envelope improvements -- Other eligible property -- Qualified natural gas, propane, or oil furnace or hot water boilers -- Qualified energy-efficient property -- Advanced main air circulating fan -- Additional rules -- 2. Credit for residential energy efficient property (sec. 25D) -- In general -- Qualified property -- Additional rules -- 3. Alternative and plug-in electric-drive motor vehicle credits (secs. 30, 30B, and 30D) -- Present Law -- Alternative motor vehicle credit (sec. 30B) -- Fuel cell vehicles -- Hybrid vehicles and advanced lean burn technology vehicles -- Qualified hybrid vehicles -- Hybrid vehicles that are automobiles and light trucks -- Advanced lean burn technology vehicles -- Limitation on number of qualified hybrid and advanced lean burn technology vehicles eligible for the credit -- Hybrid vehicles that are medium and heavy trucks -- Alternative fuel vehicle -- Base fuel economy -- Plug-in electric-drive motor vehicle credit (sec. 30D) -- Rules for taxable years beginning after December 31, 2008, with respect to vehicles acquired in that taxable year and before January 1, 2010 -- Rules for vehicles acquired after December 31, 2009 -- Credit for electric-drive low-speed vehicles, motorcycles, and three-wheeled vehicles (sec. 30) -- Credit for converting a vehicle into a plug-in electric-drive motor vehicle (sec. 30B) -- 4. New energy efficient home credit (sec 45L of the Code) -- 5. Energy efficient appliance credit (sec. 45M of the Code) -- In general -- Dishwashers -- Clothes washers.. - Refrigerators -- Definitions -- Other rules -- 6. Qualified energy conservation bonds (sec. 54D) -- 7. Energy efficient commercial buildings deduction (sec. 179D) -- In general -- Partial allowance of deduction -- Interim rules for lighting systems -- 8. Energy conservation subsidies provided by public utilities (sec. 136) -- C. Provisions Relating to Fossil Fuel Extraction -- 1. Credit for enhanced oil recovery costs (sec. 43) -- 2. Credit for the production of Indian coal (sec. 45) -- 3. Marginal wells credit (sec. 45I) -- 4. Recovery of intangible drilling and development costs (secs. 59, 263, and 291) -- 5. Deduction for qualified tertiary injectants (sec. 193) -- 6. Arbitrage exception for prepayments of natural gas (sec. 148) -- Arbitrage restrictions -- Arbitrage exceptions for certain prepayments -- Adjustments -- Intentional acts -- Definition of service area -- Ruling request for higher prepayment amounts -- Application to joint action agencies -- 7. Amortization of geological and geophysical expenditures (sec. 167(h)) -- 8. Passive loss rules for working interests in oil and gas property (sec. 469) -- Present Law -- 9. Depletion (secs. 611-613A) -- In general -- Limitation on oil and gas percentage depletion to independent producers and royalty owners -- Percentage depletion on marginal production -- D. Provisions Relating to Refining -- 1. Tax incentives for refining (secs. 45H, 168, 179B, and 179C) -- General rule for depreciating refinery assets (sec. 168) -- Temporary election to expense 50 percent of qualified property used in refining liquid fuels (sec. 179C) -- Special expensing rule for capital costs incurred by small refiners to comply with EPA sulfur regulations (sec. 179B) -- Credit for small refiners for production of diesel fuel in compliance with EPA sulfur regulations (sec. 45H).
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| ISBN | 9781617611643
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