76th Annual  Meeting
The U.S. Conference of Mayors
76th Annual Meeting
June 20-24, 2008



WHEREAS, The U.S. Conference of Mayors recognizes the importance of federal energy tax incentives that promote renewable and alternative energy projects in order to help fight climate change, secure our nation’s energy supply, and reduce our dependence on foreign source of oil; and

WHEREAS, the renewable Production Tax Credit, to support electricity generation through biomass, wind, geothermal, solar, and other sources; the Investment Tax Credit, for residential and business alternative energy installations; and the Clean Renewable Energy Bond program for public utilities are all set to expire on December 31, 2008; and

WHEREAS, it is recognized that sporadic, short-term extensions by Congress (even allowing for periodic lapses of the Production Tax Credit) has made renewable and alternative energy advocates increasingly anxious as the newest year-end expiration date approaches; and

WHEREAS, these short-term tax extensions deter advanced development and rapid deployment of projects by making it more difficult to appropriately plan for, and adequately secure longer term funding of, renewable energy projects to better compete with more traditional and less expensive fossil fuel energy sources; and

WHEREAS, in order to best promote and advance renewable energy technologies and their widespread deployment, the certainty of a multi-year extension would most benefit the industry, speed renewable project development, utilize clean domestic energyresources, and promote American jobs at a time of record energyprices and local or state commitments towards increasing the useof renewable resources; and

WHEREAS, renewable energy tax incentives are criticallyimportant for the emerging alternative energy industry sector, where continued federal funding can help in the development anddeployment of initially higher-costs technologies – ultimatelydriving down consumers costs; and

WHEREAS, the U.S. Conference of Mayors believes Congress mustact now to promote clean renewable energy to best advance thenation’s ability to meet a federal climate change program andreduce greenhouse gas emissions, NOW, THEREFORE, BE IT RESOLVED, that the U.S. Conference ofMayors hereby urges Congress to approve legislation that offersa five-year extension of renewable energy tax credits, currentlyset to expire on December 31, 2008, to enable expeditedactivities that advance renewable energy projects, help fightclimate change, and promote domestic jobs; and

BE IT FURTHER RESOLVED that the U.S. Conference of Mayors callsupon Congress to work with local leaders to ensure that CleanRenewable Energy Bond program modifications are made to benefitpublic sector applicants on a more equitable basis.