Western Wind tax bill gets one step closer to apprWestern Wind tax bill gets one step closer to approval
2008-09-25 04:02 MT - News Release
Mr. Jeffrey Ciachurski reports
US SENATE OVERWHELMINGLY APPROVES PRODUCTION TAX CREDITS
Western Wind Energy Corp. has learned that yesterday, the United States Senate approved by an overwhelming and bipartisan 92-2 vote, a bill that extends the 10-year tax credits for wind energy production.
Presently, in order to obtain the 10-year tax credit, new wind energy operations must come on-line by Dec. 31, 2008. The bill will extend the start-up deadline until the end of 2009. The bill will reach the House of Representatives this week, and the White House has indicated that it will sign the bill if passed by congress.
Western Wind will be granting 1.8 million stock options at $1.34 per share, being the closing price of the company's shares on Sept. 24, 2008.