In late June, the U.S. Senate passed its energy bill (S-10) by a vote of 85 to 12. The bill contains a three-year extension of the “placed in service” window for Section 45 production tax credits for landfill gas and waste-to-energy facilities. The credits currently apply to facilities that are placed in service between Oct. 23, 2004, and Dec. 31, 2005.
The bill also would allow companies to claim up to 15 percent of the cost for equipment used to process recyclable materials as a tax credit. Before passage, the provision was amended to include equipment that processes electronic waste such as cathode ray tubes, flat panel screens and video displays larger than four inches diagonally.
Neither the Section 45 extension nor the equipment tax credit was included in the House energy bill. Members of the House and Senate will now meet in conference committee to reconcile the bills.