XR The Heppner Gazette-Times. Ileppner. Oregon. Thursday. January 10. 1M0
Packwood
Sen. Bob Packwood said
recently that Senate passage
of the Crude Oil Windfall
Profits Tax. with his amend
ments to stimulate the devel
opment of alternative energy
sources, launches the United
States down the road to energy
independence.
The Senate gave final pas
sage to the legislation Dec. 17.
The bill now goes to a
Senate-House conference
committee where differences
between Senate and House
versions will be reconciled.
"Although the Senate did
not pass as tough a tax as I
would like. I will work to
improve the bill in confer
ence," Packwood said.
"I am delighted, however,
that the Senate bill includes
many of my recommenda
tions for alternative energy.
We have adopted strong
"iricentives ror individuals and
businesses to invest in solar,
wind, geothermal and bio
mass energy." the Oregon
Republican said.
"We can and will make real
progress in ending our depen
dence on costly imported oil
by bolstering our domestic
production of safe renewable
energy resources. In the long
run this will save money for
the American consumer."
Packwood said.
One Packwood-Hatfield
amendment of special impor
tance to Oregon authorized
extending tax-free status to
interest earned on bonds sold
under the Oregon Energy
Loan Program. If approved by
Oregon voters in May 1980, the
program will be funded by a
bond issue, the proceeds of
which would be used to
provide loans in Oregon for
such projects as solar, wind,
geothermal. biomass, waste
heat and hydroelectric power.
In other amendments of
interest to Oregon, Packwood
also succeeded in adding to
the bill provisions to stimulate
the production of gasohol, and
a tax credit for . certain
cogeneration equipment. The ,
cogeneration measure would
extend the 10 percent invest
ment tax credit to wood waste
burning burners and boilers
that use a small amount of oil
to start up.
"Oregon," Packwood said,
"is well on its way to
achieving more innovative
and efficient uses of energy,
into law, the rest of the nation
will follow. I am prepared to
do everything I can to see that
these provisions are accepted
by the House of Representa
tatives. The Packwood amendments
adopted in the Senate bill
include a variety of measures
to stimulate the development
of alternative energy by
expanding energy tax credits
for residences and businesses.
Residential provisions in
clude: A tax credit of 50 percent for
expenditures of up to $10,000 to
install residential solar, winda
and geothermal systems, with
a maximum tax savings of up
to $5,000 per household :
Making heat pumps eligible
for the 15 percent conserva
tion property credit, provided
Veterans' loans
near deadline
Veterans' loans from the
Oregon Department of Veter
ans' Affairs will no longer be
available to World War II
veterans after Jan. 31, 1980.
This reminder was given by
Dave White, area manager for
the department in northeast
Oregon.
White said that World War
II veterans who intend to do
any remodeling, to purchase a
borne, or to re-finance thier
homes should apply for the
loans they want as soon as
possible. He pointed out that
the attorney general has
recently ruled that a World
War II veteran must have his
loan approved and committed
before the end of January.
Just applying before the
deadline is not enough.
White added that there will
be a measure voted on in May
which would extend the bene-
f k - I II' 1 J T TT
msioi nunu war 11 veterans.
that the heat pump replaces
an 'electrical resistance heat
system ;
Allowing owners of rental
property to become eligible
for both conservation and
renewable energy credits.
They would be eligible for a 10
percent credit for energy
conservation, up to $2,000 per
tax bill leads nation toward energy freedom
d rcntnl unit or a maximum of wind and geothermal systems. energy equipment: up to 30 percent for solar and thermal energy conversion. .
s $200 Landlords also would be Business provisions in- A 10 percent nonrefundable wind equipment, geothermal Extending through 1990 the
. i . . . . . . i nAMnni investment tax
IU jn -v in
credit for biomass energy
systems using wood sources.
$200 Landlords also would be
perm il led 40 percent credit for
costs up to $10,000 per unit, or
$4,000. for installation of solar.
elude
Extending the investment
tax credit of 10 percent to
credit 'for certain hydroelec-
trieity-producing equipment:
Total investment credits of
up to 30 percent for solar and
wind equipment, geothermal
equipment and systems that
use biomass energy from
non-wood sources, and ocean
(Soon
j Mil I 1 W I ill MWW!''W,!Se,l
u
V
LOOK
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to the U.S. Olympic Committee.
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JANUARY 9 THRU
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WE RESERVE THE RIGHTTO LIMIT QUANTITIES
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O O
ysT? If r
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11
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lb
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umiiuuLU ruiiL uiimiui. uuiuu
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