S 2314
110th Congress
Senate
Taxation
Depreciation and amortization
Energy
Energy conservation
Energy efficiency
Geothermal resources
Heat pumps
Housing and Community Development
Income tax
Minimum tax
Tax administration
Tax credits
Tax deductions
Geothermal Heat Pump Development Act of 2007
Introduced: November 6, 2007
See on congress.gov
Everywhere this bill has been
3 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Nov 6, 2007
Read twice and referred to the Committee on Finance.
Nov 6, 2007
Sponsor introductory remarks on measure. (CR S13998-13999)
Nov 6, 2007
Introduced in Senate
Plain-English summary
Geothermal Heat Pump Development Act of 2007 - Amends the Internal Revenue Code to: (1) to include equipment that uses the ground or ground water as a thermal energy source or sink to heal or cool a structure (i.e., geothermal heat pump systems) as energy property for purposes of the energy tax credit; (2) allow a residential energy efficient property tax credit for 30% of qualified geothermal heat pump property expenditures; and (3) allow accelerated three-year depreciation of geothermal heat pump systems.
What's happening now
Read twice and referred to the Committee on Finance.
Committees of jurisdiction
1