Summary of the Farm Energy Economic Recovery Program

You can download the full letter here (PDF format). Following is a quick summary of the three-part proposal.

Expand Funding for Farm Bill Energy Title Programs

• Include at least $1.2 billion in additional funding for important Farm Bill Energy Title programs like the Rural Energy for America Program (REAP), Biorefinery Assistance Program, Repowering Assistance and Biomass Crop Assistance Program.

More information on all energy title programs can be found in our Farm Bill Policy section.

Extend and Improve Clean Energy Tax Credits

• Extend the federal Production Tax Credits (PTC) for wind and biomass power for five years.

 

• Change structure of PTC and investment tax credit (ITC) to make them fully refundable.

 

• Stimulate 2009 investment by permitting tax credits from new
  investments in 2008 and 2009 to be carried back against tax liability
  from the past decade.

 

• Create a level playing field for producers of renewable electricity by modifying the PTC so all renewable sources of electricity will be eligible for the full credit.

Expand Successful Clean Renewable Energy And Conservation Bond Programs

• Extend and expand funding for Clean Renewable Energy Bonds and Qualified Energy Conservation Bonds.

 

• These bond programs provide PTC-like incentives for electric
  cooperatives, public power, and municipalities to build new renewable energy facilities and invest in energy efficiency.

Letter Signers

Following is a list of the groups and companies who signed onto the letter:

25x’25 Alliance

American Agri-Women

American Coalition for Ethanol

Association of Consulting Foresters

Association of State Energy Research & Technology Transfer Institutions

Biomass Power Association

Biotechnology Industry Association

Ceres

CHS, Inc.

Clean Energy First

Climate Solutions

Environmental and Energy Study Institute

Environmental Law & Policy Center

Forest Landowners Association

Intertribal Council On Utility Policy

John Deere

Native Wind

National Alliance of Forest Owners

National Association of Forest Service Retirees

National Association of State Energy Officials

National Association of Wheat Growers

National Corn Growers Association

National Farmers Union

National Rural Electric Cooperative Association

National Sorghum Producers

National Wildlife Federation

National Woodland Owners Association

North American Equipment Dealers Association

Pinchot Institute for Conservation

Society of American Foresters

Solar Energy Industries Association

Southern Alliance for Clean Energy

The Farm Credit Council

The Stella Group, Ltd.