PlainBillCongress, translated.Legislation. Context. Public interest.Read twice and referred to the Committee on Finance. (text of measure as introduced: CR S6955-6960)
Congressional Research Service
Version 00 · Introduced in Senate · May 25, 2007
Clean Renewable Energy and Economic Development Incentives Act of 2007 - Amends the Internal Revenue Code to extend through 2018 the tax credits for producing electricity from renewable resources and for investment in clean renewable energy bonds.
Allows new tax credits for: (1) holders of water conservation, reuse, and efficiency bonds; (2) expenditures for geothermal exploration; (3) holders of qualified renewable school energy bonds; and (4) investment in solar energy manufacturing facilities.
Expands the tax credit for residential energy efficient property to include expenditures for wind energy property that uses a qualifying wind turbine (with a rated capacity of 100 kilowatts or less) to generate electricity.
Showing the opening paragraphs of the official summary.
Extends through 2013 the new energy efficient home tax credit.
Expands the energy tax credit to include investment in equipment used to produce advanced battery and related power electronics for use in certain electric or hybrid motor vehicles or in residential or small commercial applications.
Allows the tax-exempt bond financing of renewable energy resource facilities (i.e., facilities for the production of electric or thermal energy from certain renewable resources).
Makes permanent the energy tax credit for investment in solar energy property. Includes as energy property for purposes of such credit excess energy storage devices.
Allows solar and geothermal public utility property to qualify for the energy tax credit.
Makes permanent the tax credit for residential energy efficient property expenditures. Allows three-year accelerated depreciation of solar energy property.
People & committees
Sen. Reid, Harry [D-NV] · D–NV
Legislative record
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Read twice and referred to the Committee on Finance. (text of measure as introduced: CR S6955-6960)
Introduced in Senate
Primary sources
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No related bills are listed in this snapshot. This does not establish whether the proposal has appeared in earlier Congresses.
Source last updated: Aug 14, 2025. Consult Congress.gov for the current record.
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