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Committee on Energy and CommerceCommittee on Ways and MeansIntroducedJanuary 12th, 2010
- house Committees
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Enhancing Renewable Energy Investment Act
To increase the energy credit for equipment used to generate electricity by geothermal power, to extend the grants for specified energy property, and for other purposes.
Enhancing Renewable Energy Investment Act - Amends the Internal Revenue Code to: (1) allow a 30% energy tax credit through 2016 for equipment used to produce electricity by geothermal power; and (2) require the inclusion in gross income for income tax purposes of employee compensation deferred under a nonqualified deferred compensation plan of certain foreign entities when there is no substantial risk of forfeiture of the rights to such compensation. Amends the American Recovery and Reinvestment Tax Act of 2009 to allow an extension of the grant period for specified energy property in lieu of applicable tax credits.