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US House Passes “Tax Extenders” Bill

The US House of Representatives has passed the “Tax Extenders” Bill (HR4213) by a vote of 241 - 181. the bill amends the Internal Revenue Code to extend through 2010 certain expiring provisions for individual and business taxpayers.

The energy conservation and production provisions so extended include:

  1. Tax credits for biodiesel and renewable diesel used as fuel;

  2. The alternative motor vehicle tax credit for large hybrid vehicles;

  3. The alternative fuel excise tax credit for natural gas and liquefied petroleum gas; and

  4. Tax rules relating to sales required to implement federal and state restructuring policy for qualified electric utilities.

The “Tax Extenders” Bill will now go to the Senate.

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