A lot of people assume that the federal bailout law is all about helping banks and buying toxic mortgage portfolios. That’s true, but Congress included some important tax items in the Emergency Economic Stabilization Act that could be of immediate use by owners and developers of investment real estate.

Tops on the list of winners: Anybody who builds or renovates properties using “alternative energy” features - especially solar panel applications. The bill extended a 30 percent federal tax credit for the next eight years for new commercial and residential solar installations - that means everything from multifamily rental projects to retail and commercial office buildings.

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