[Congressional Bills 110th Congress]
[From the U.S. Government Publishing Office]
[H.R. 6133 Introduced in House (IH)]
110th CONGRESS
2d Session
H. R. 6133
To amend the Internal Revenue Code of 1986 to extend and modify the
renewable energy production tax credit and the solar energy and fuel
cell investment tax credit.
_______________________________________________________________________
IN THE HOUSE OF REPRESENTATIVES
May 22, 2008
Mr. Terry (for himself, Mr. Barton of Texas, Mr. Hall of Texas, Mr.
Upton, Mr. Deal of Georgia, Mr. Whitfield of Kentucky, Mr. Shimkus,
Mrs. Wilson of New Mexico, Mr. Shadegg, Mr. Pickering, Mr. Buyer, Mr.
Radanovich, Mr. Pitts, Mrs. Bono Mack, Mr. Rogers of Michigan, Mrs.
Myrick, Mr. Sullivan, Mr. Burgess, Mr. McCrery, Mr. English of
Pennsylvania, Mr. Gallegly, Mr. Pearce, Mr. McCaul of Texas, Mr. Kuhl
of New York, and Mr. Issa) introduced the following bill; which was
referred to the Committee on Ways and Means
_______________________________________________________________________
A BILL
To amend the Internal Revenue Code of 1986 to extend and modify the
renewable energy production tax credit and the solar energy and fuel
cell investment tax credit.
Be it enacted by the Senate and House of Representatives of the
United States of America in Congress assembled,
SECTION 1. EXTENSION AND MODIFICATION OF RENEWABLE ENERGY PRODUCTION
TAX CREDIT.
(a) Extension of Credit.--Each of the following provisions of
section 45(d) (relating to qualified facilities) is amended by striking
``January 1, 2009'' and inserting ``January 1, 2014'':
(1) Paragraph (1).
(2) Clauses (i) and (ii) of paragraph (2)(A).
(3) Clauses (i)(I) and (ii) of paragraph (3)(A).
(4) Paragraph (4).
(5) Paragraph (5).
(6) Paragraph (6).
(7) Paragraph (7).
(8) Paragraph (8).
(9) Subparagraphs (A) and (B) of paragraph (9).
(b) Production Credit for Electricity Produced From Marine
Renewables.--
(1) In general.--Paragraph (1) of section 45(c) (relating
to resources) is amended by striking ``and'' at the end of
subparagraph (G), by striking the period at the end of
subparagraph (H) and inserting ``, and'', and by adding at the
end the following new subparagraph:
``(I) marine and hydrokinetic renewable energy.''.
(2) Marine renewables.--Subsection (c) of section 45 is
amended by adding at the end the following new paragraph:
``(10) Marine and hydrokinetic renewable energy.--
``(A) In general.--The term `marine and
hydrokinetic renewable energy' means energy derived
from--
``(i) waves, tides, and currents in oceans,
estuaries, and tidal areas,
``(ii) free flowing water in rivers, lakes,
and streams,
``(iii) free flowing water in an irrigation
system, canal, or other man-made channel,
including projects that utilize nonmechanical
structures to accelerate the flow of water for
electric power production purposes, or
``(iv) differentials in ocean temperature
(ocean thermal energy conversion).
``(B) Exceptions.--Such term shall not include any
energy which is derived from any source which utilizes
a dam, diversionary structure (except as provided in
subparagraph (A)(iii)), or impoundment for electric
power production purposes.''.
(3) Definition of facility.--Subsection (d) of section 45
is amended by adding at the end the following new paragraph:
``(11) Marine and hydrokinetic renewable energy
facilities.--In the case of a facility producing electricity
from marine and hydrokinetic renewable energy, the term
`qualified facility' means any facility owned by the taxpayer--
``(A) which has a nameplate capacity rating of at
least 150 kilowatts, and
``(B) which is originally placed in service on or
after the date of the enactment of this paragraph and
before January 1, 2010.''.
(4) Credit rate.--Subparagraph (A) of section 45(b)(4) is
amended by striking ``or (9)'' and inserting ``(9), or (11)''.
(5) Coordination with small irrigation power.--Paragraph
(5) of section 45(d), as amended by subsection (a), is amended
by striking ``January 1, 2013'' and inserting ``the date of the
enactment of paragraph (11)''.
(c) Sales of Electricity to Regulated Public Utilities Treated as
Sales to Unrelated Persons.--Section 45(e)(4) (relating to related
persons) is amended by adding at the end the following new sentence:
``A taxpayer shall be treated as selling electricity to an unrelated
person if such electricity is sold to a regulated public utility (as
defined in section 7701(a)(33).''.
(d) Trash Facility Clarification.--Paragraph (7) of section 45(d)
is amended--
(1) by striking ``facility which burns'' and inserting
``facility (other than a facility described in paragraph (6))
which uses'', and
(2) by striking ``combustion'' in the heading thereof.
(e) Effective Dates.--
(1) Extension.--The amendments made by subsection (a) shall
apply to property originally placed in service after December
31, 2008.
(2) Modifications.--The amendments made by subsections (b)
and (c) shall apply to electricity produced and sold after the
date of the enactment of this Act, in taxable years ending
after such date.
(3) Trash facility clarification.--The amendments made by
subsection (d) shall apply to electricity produced and sold
before, on, or after December 31, 2007.
SEC. 2. EXTENSION AND MODIFICATION OF SOLAR ENERGY AND FUEL CELL
INVESTMENT TAX CREDIT.
(a) Extension of Credit.--
(1) Solar energy property.--Paragraphs (2)(A)(i)(II) and
(3)(A)(ii) of section 48(a) (relating to energy credit) are
each amended by striking ``January 1, 2009'' and inserting
``January 1, 2018''.
(2) Fuel cell property.--Subparagraph (E) of section
48(c)(1) (relating to qualified fuel cell property) is amended
by striking ``December 31, 2008'' and inserting ``December 31,
2017''.
(3) Qualified microturbine property.--Subparagraph (E) of
section 48(c)(2) (relating to qualified microturbine property)
is amended by striking ``December 31, 2008'' and inserting
``December 31, 2017''.
(b) Allowance of Energy Credit Against Alternative Minimum Tax.--
Subparagraph (B) of section 38(c)(4) (relating to specified credits) is
amended by striking ``and'' at the end of clause (iii), by striking the
period at the end of clause (iv) and inserting ``, and'', and by adding
at the end the following new clause:
``(v) the credit determined under section
46 to the extent that such credit is
attributable to the energy credit determined
under section 48.''.
(c) Repeal of Dollar Per Kilowatt Limitation for Fuel Cell
Property.--
(1) In general.--Section 48(c)(1) (relating to qualified
fuel cell), as amended by subsection (a)(2), is amended by
striking subparagraph (B) and by redesignating subparagraphs
(C), (D), and (E) as subparagraphs (B), (C), and (D),
respectively.
(2) Conforming amendment.--Section 48(a)(1) is amended by
striking ``paragraphs (1)(B) and (2)(B) of subsection (c)'' and
inserting ``subsection (c)(2)(B)''.
(d) Public Electric Utility Property Taken Into Account.--
(1) In general.--Paragraph (3) of section 48(a) is amended
by striking the second sentence thereof.
(2) Conforming amendments.--
(A) Paragraph (1) of section 48(c), as amended by
this section, is amended by striking subparagraph (C)
and redesignating subparagraph (D) as subparagraph (C).
(B) Paragraph (2) of section 48(c), as amended by
subsection (a)(3), is amended by striking subparagraph
(D) and redesignating subparagraph (E) as subparagraph
(D).
(e) Effective Dates.--
(1) Extension.--The amendments made by subsection (a) shall
take effect on the date of the enactment of this Act.
(2) Allowance against alternative minimum tax.--The
amendments made by subsection (b) shall apply to credits
determined under section 46 of the Internal Revenue Code of
1986 in taxable years beginning after the date of the enactment
of this Act and to carrybacks of such credits.
(3) Fuel cell property and public electric utility
property.--The amendments made by subsections (c) and (d) shall
apply to periods after the date of the enactment of this Act,
in taxable years ending after such date, under rules similar to
the rules of section 48(m) of the Internal Revenue Code of 1986
(as in effect on the day before the date of the enactment of
the Revenue Reconciliation Act of 1990).
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