The 1603 Treasury Program allows owners of property, like biogas producing digesters, that would otherwise qualify for Internal Revenue Code Section 45 (production tax credit) or 48 (investment tax credit) to receive a cash grant from the U.S. Treasury in lieu of the credit and in the amount of a 30% investment tax credit. Within 1603 requirements, the "commence construction" deadline to qualify for these grants is approaching (12/31/11). We, The People, petition the Administration deadline (as well as the placed in service date) to 1/1/14, or better yet, eliminate the "sunset provision" altogether. The 1603 Program creates jobs, stimulates private investment, contributes to a cleaner environment and enhances national security by producing renewable energy in the U.S.
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