President Obama signed into law a stimulus package, H.R. 1, the massive American
Recovery and Reinvestment Act (ARRA), also referred to as the American Recovery
and Reinvestment Tax Act (ARRTA). The energy tax credit will have the greatest
impact on the hearth industry.
Energy Credit: 30% Tax Credit for Biomass Stove Purchase – The Act includes a 30% tax credit (up to $1,500) for the purchase in 2009 and 2010 of 75%-efficient biomass-burning stoves measured using a lower heating value (LHV). The new tax credit provisions are substantial improvements to the $300 tax credit provisions included in legislation that passed in October 2008. The major changes include an extension of the credit through 2010, the increase on the credit from $300 to 30%, and the stoves being measured using LHV. For questions and answers on the tax credit, please click here.
Sustainable Forestry Initiative:
The SFI program is a comprehensive system of principles, objectives and performance measures developed by professional foresters, conservationists and scientists, among others, that combines the perpetual growing and harvesting of trees with the long-term protection of wildlife, plants, soil and water quality. Read More Here...