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

2008 ADOPTED RESOLUTIONS

SUPPORT OF RENEWABLE ENERGY TAX INCENTIVES

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 sources 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 energy resources, and promote American jobs at a time of record energy prices and local or state commitments towards increasing the use of renewable resources; and

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

WHEREAS, the U.S. Conference of Mayors believes Congress must act now to promote clean renewable energy to best advance the nation’s ability to meet a federal climate change program and reduce greenhouse gas emissions,

NOW, THEREFORE, BE IT RESOLVED, that the U.S. Conference of Mayors hereby urges Congress to approve legislation that offers a five-year extension of renewable energy tax credits, currently set to expire on December 31, 2008, to enable expedited activities that advance renewable energy projects, help fight climate change, and promote domestic jobs; and

BE IT FURTHER RESOLVED that the U.S. Conference of Mayors calls upon Congress to work with local leaders to ensure that Clean Renewable Energy Bond program modifications are made to benefit public sector applicants on a more equitable basis.