April 01, 2004 | By Keith Martin in Washington, DC
SECTION 29 tax credits were $1.1036 an mmBtu last year.
The IRS announces the credit amount each April for the past year. Section 29 credits are tax credits that can be claimed by companies that are producing synthetic fuel from coal or landfill gas or other “gas from biomass.” The facilities used to produce these fuels must have been put into service by June 1998. The credits run on output from such facilities through 2007.