S 759
108th Congress
Senate
Taxation
Commerce
Condominium (Housing)
Corporation taxes
Energy
Equipment and supplies
Housing and Community Development
Income tax
Minimum tax
Tax credits
Wind power
Small Wind Energy Systems Act of 2003
Introduced: April 1, 2003
Introduced by:
Durbin, Richard J.
Democratic
· Illinois
See on congress.gov
Everywhere this bill has been
3 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Apr 1, 2003
Read twice and referred to the Committee on Finance. (text of measure as introduced: CR S4642-4643)
Apr 1, 2003
Sponsor introductory remarks on measure. (CR S4641-4642)
Apr 1, 2003
Introduced in Senate
Plain-English summary
Residential, Farm, Ranch, and Small Business Wind Energy Systems Act of 2003 or the Small Wind Energy Systems Act of 2003 - Amends the Internal Revenue Code to allow a taxpayer an annual credit for 30 percent of the cost of installing a qualified residential wind turbine. Limits such credit to $1,000 for each kilowatt of capacity. (Excludes swimming pools or any storage medium which has a function other than a storage function.)
Allows an annual business credit for installation of a qualifying wind turbine on a farm, ranch, or small business. Limits such credit to the smaller of: (1) 30 percent of basis, including installation; or (2) $1,000 for each kilowatt of capacity.
What's happening now
Read twice and referred to the Committee on Finance. (text of measure as introduced: CR S4642-4643)
Committees of jurisdiction
1