The "American Jobs Creation Act of 2004" (HR 4520), signed into law on October 22, 2004, authorizes $2 billion in tax-exempt bond financing for green buildings, brownfield redevelopment, and sustainable design projects. Tax-exempt financing allows a project developer to borrow money at a lower interest rate because the buyers of the bonds will not have to pay federal income taxes on interest earned. The savings from tax-exempt financing must then be used to offset the costs of sustainable design and/or renewable energy technologies. Projects must be nominated by a State or local government within 180 days of the enactment of this law. The Environmental Protection Agency will recommend projects to Secretary of the Treasury based on the following requirements:
|Incentive Type:||Loan Program|
|Eligible Renewable/Other Technologies:||
|Name:||Public Law No: 108-357: "American Jobs Creation Act of 2004" (HR 4520); see Â§ 701|
This information is sourced from DSIRE; the most comprehensive source of information on incentives and policies that support renewables and energy efficiency in the United States. Established in 1995, DSIRE is operated by the N.C. Clean Energy Technology Center at N.C. State University.
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