H.R.546

To amend the Internal Revenue Code of 1986 to treat certain solar energy credits as refundable credits, to allow a new refundable credit for equipment used to manufacture solar energy property, to waive the application of the subsidized financing rules to such property, and for other purposes.

1/14/2009--Introduced.

Solar Stimulus for Job Creation and Energy Independence Act of 2009 - Amends the Internal Revenue Code to: (1) provide for the refundability of the residential energy efficiency tax credit for solar electric and water heating property, and for business-related solar energy tax credits, through 2010; (2) allow an election to take an increased depreciation allowance for solar energy property until 2011; (3) exempt solar energy property from private activity bond usage and loan financing rules; and (4) allow a refundable energy tax credit for investment in property used to manufacture solar energy property.

Amends the Energy Policy Act of 2005 to limit to 25 years the contract period for federal purchases of renewable energy.

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