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Provision Effective 2020 2021 2022 2023 2024 2025 2026 2027 202

DIVISION M - REVENUE PROVISIONSTHE "RENEWAL ENERGY, EFFICIENCY, AND INFRASTRUCTURE TAX ACT OF 2020"

I. Infrastructure Financing

A. Bond Financing Enhancements

1. Credit to issuer for certain infrastructure bonds [1].............. bimt 30da DOE -97 -701 -2,101 -3,796 -5,367 -6,777 -7,707 -7,976 -7,80

2. Advance refunding bonds..................................................... ar bimt 30da DOE -66 -333 -708 -985 -1,190 -1,389 -1,561 -1,685 -1,77

3. Permanent modification of small issuer exception to

tax-exempt interest expense allocation rules for financialinstitutions............................................................................. oia DOE -3 -26 -91 -180 -271 -364 -461 -561 -66

4. Volume cap on private activity bonds [2]............................. cya 2020 --- -1 -3 -6 -10 -16 -26 -39 -55. Modifications to qualified small issue bonds........................ oia DOE [3] -1 -2 -4 -7 -9 -12 -15 -16. Expansion of certain exceptions to the private activity

bond rules for first-time farmers........................................... bia DOE [3] [3] [3] [3] -1 -1 -1 -1 -

7. Exempt facility bonds for zero-emission vehicle

infrastructure......................................................................... bia 12/31/20 --- -2 -9 -21 -36 -56 -83 -112 -14

8. Certain water and sewage facility bonds exempt from volume

cap on private activity bonds [4]........................................... oia DOE [3] -1 -2 -3 -4 -5 -6 -7 -

9. Qualified highway or surface freight transfer facility bonds bia DOE [3] -1 -4 -8 -13 -17 -21 -22 -2

B. School Infrastructure Bonds

1. Restoration of certain qualified tax credit bonds (qualified

zone academy bonds and qualified school constructionbonds) [1].............................................................................. oia 12/31/20 --- -1 -7 -29 -65 -107 -154 -204 -25

2. School infrastructure bonds. [1]............................................ oia 12/31/20 --- -34 -174 -409 -637 -753 -763 -748 -73

3. Annual report on bond program............................................ [5]

C, Other Provisions Related to Infrastructure Financing

1. Credit for operations and maintenance costs of apoia DOE 

government-owned broadband.............................................. in tyea sd [3] -1 [3] [3] [3] --- --- --- -

2. Treatment of financial guaranty insurance companies as

qualifying insurance corporations under passive foreigninvestment company rules..................................................... [6] & rma DOE --- [3] -1 -1 -3 -3 -4 -4 -

3. Infrastructure grants to improve child care safety................ ---

Total of Infrastructure Financing................................................................................. -166 -1,100 -3,101 -5,440 -7,601 -9,498 -10,799 -11,374 -11,48

- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - Estimate to be Provided by the Congressional Budg

ESTIMATED REVENUE EFFECTS OF THE REVENUE PROVISIONS CONTAINED IN DIVISION M OF H.R. 2, 

Fiscal Years 2020 - 2030

[Millions of Dollars] 

- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - No Revenue Effect - - - - - - - - - 

THE "MOVING FORWARD ACT,"

(RULES COMMITTEE PRINT 116-54)

INCLUDING MANAGER'S AMENDMENT (DEFAZIO 228)

SCHEDULED FOR CONSIDERATION BY THE HOUSE OF REPRESENTATIVES ON JULY 1, 2020
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II. New Markets Tax Credit - Improvement and Permanent cya 2020 &

Extension of New Markets Tax Credit...................................... cda 12/31/20 -2 -10 -44 -121 -274 -473 -698 -950 -1,22

III. Rehabilitation Tax Credit

1. Increase in rehabilitation credit percentage to 30 percent with

phasedown to 20 percent....................................................... cdf tyba 12/31/19 -67 -210 -365 -528 -706 -796 -753 -643 -49

2. 30-percent credit for certain small projects........................... tyba DOE --- --- --- --- [3] -11 -44 -98 -163. Modification of definition of substantially rehabilitated...... dwba DOE [3] -11 -44 -109 -217 -368 -537 -703 -85

4. Temporary extension of period for completing

rehabilitation......................................................................... cdf tyba DOE -3 -11 -20 -14 -3 -1 --- --- -

5. Elimination of rehabilitation credit basis adjustment........... ppisa DOE -1 -56 -144 -241 -353 -464 -527 -545 -55

6. Modification regarding certain tax-exempt use property to

limit application of disqualified lease rules.......................... leia DOE -7 -16 -20 -24 -31 -36 -39 -41 -4

7. Qualification of rehabilitation expenditures for public

school buildings for rehabilitation credit.............................. ppisa DOE -17 -39 -49 -60 -77 -91 -97 -102 -10

Total of Rehabilitation Tax Credit................................................................................ -95 -343 -642 -976 -1,387 -1,767 -1,997 -2,132 -2,20

IV. Green Energy

A. Renewable Electricity and Reducing Carbon Emissions

1. Extension of credit for electricity produced from

certain renewable resources (sunset 12/31/25) [1]................ cba 12/31/20 --- --- -99 -178 -270 -462 -723 -1,027 -1,33

2. Extension and modification of energy credit (sunset generally DOE

12/31/26) [1]......................................................................... & pa 12/31/19 -64 -239 -457 -5,975 -9,939 -11,587 -13,037 -13,268 -12,23

3. Extension of credit for carbon dioxide sequestration

(sunset 12/31/25)................................................................... ftcowfba 12/31/23 --- --- --- --- -21 -58 -77 -83 -8

4. Elective payment for energy property and electricity

produced from certain renewable resources, etc................... popisa DOE

5. Extension of energy credit for offshore wind facilities........ pa 12/31/19 --- --- --- -1 -23 -153 -55 -27 -2

6. Green energy publicly traded partnerships........................... tyba 12/31/20 --- -46 -107 133 -146 -155 -107 -54 -6

B. Renewable Fuels

1. Biodiesel and renewable diesel (sunset 12/31/25)................ fsoua 12/31/22 --- --- --- -1,638 -1,764 -1,203 -286 --- -2. Extension of excise tax credits relating to alternative

fuels (sunset 12/31/25).......................................................... fsoua DOE --- -483 -676 -545 -365 -239 -56 --- -

3. Extension of second generation biofuel incentives qsgbpa 12/31/20 &

(sunset 12/31/25)................................................................... ppisa 12/31/20 --- -9 -18 -19 -21 -22 -10 --- -

C. Green Energy and Efficiency Incentives for Individuals

1. Extension, increase, and modifications of nonbusiness ppisa 12/31/20 &

energy property credit (sunset 12/31/25).............................. apoia 12/31/20 -148 -1,474 -1,382 -1,289 -1,195 -1,100 -912 --- -

2. Extension and modification of residential energy efficient

property credit (sunset 12/31/27).......................................... ema DOE -40 -278 -863 -2,238 -2,298 -2,357 -2,354 -2,086 -1,57

3. Energy efficient commercial buildings deduction

(sunset 12/31/25)................................................................... ppisa 12/31/20 --- -70 -110 -111 -112 -114 -33 10 

4. Extension, increase, and modifications of new

energy efficient home credit (sunset 12/31/25)..................... duaa 12/31/20 --- -99 -183 -215 -238 -260 -183 -120 -10

5. Modifications to income exclusion for conservation

subsidies................................................................................ ara 12/31/18 -6 -5 -4 -4 -4 -5 -5 -5 -

- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - Estimate Included in Items IV.A.1, IV.A.2, and IV
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D. Greening the Fleet and Alternative Vehicles

1. Modification of limitations on new qualified plug-in

electric drive motor vehicle credit........................................ vsa DOE -535 -1,380 -1,520 -1,327 -753 -578 -616 -647 -67

2. Credit for previously-owned qualified plug-in electric drive

motor vehicles (sunset 12/31/25).......................................... sa DOE [3] [3] -1 -1 -1 -1 -1 -2 -

3. Credit for zero-emission heavy vehicles and

zero-emission buses (sunset 12/31/24).................................. sa DOE -1 -3 -3 -3 -3 -1 --- --- -

4. Qualified fuel cell motor vehicles (sunset 12/31/25)............ ppisa 12/31/20 --- -4 -6 -7 -8 -9 -3 --- -5. Alternative fuel refueling property credit (sunset 12/31/25) ppisa 12/31/20 --- -49 -173 -203 -234 -272 -209 -52 -4

6. Modification of employer-provided fringe benefits for

bicycle commuting [7].......................................................... tyba 12/31/20 --- -19 -20 -21 -22 -23 -15 -16 -1

E. Investment in the Green Workforce

1. Extension of the advanced energy project credit.................. DOE --- -19 -101 -197 -207 -200 -248 -323 -23

2. Labor costs of installing mechanical insulation apoia 12/31/19

property (sunset 12/31/25).................................................... in tyea sd --- -368 -741 -938 -1,099 -1,267 -964 -670 -56

3. Special rules for taxpayers employing qualifying labor:

a. Increased investment credit for energy property.............. pa 12/31/20 --- -150 -287 -387 -490 -592 -682 -783 -86

b. Increased deduction for energy efficient buildings.......... ppisa 12/31/20c. Increased credit for alternative fuel refueling property.... ppisa 12/31/20

F. Environmental Justice - Qualified Environmental

Justice Program Credit.......................................................... DOE --- --- -400 -700 -800 -900 -1,000 -600 -30

G. Treasury Report on Data from the Greenhouse Gas

Reporting Program................................................................ nlt 180da DOE

Total of Green Energy.................................................................................................... -794 -4,695 -7,151 -15,864 -20,013 -21,558 -21,576 -19,753 -18,11

V. Disaster and Resiliency

1. Exclusion of amounts received from State-based catastrophe 

loss mitigation programs....................................................... tyba 12/31/18 -1 -2 -2 -3 -3 -3 -4 -5 -

2. Repeal of temporary limitation on personal casualty losses. lii tyba 12/31/17 -160 -446 -286 -309 -311 -285 -266 --- -

Total of Disaster and Resiliency..................................................................................... -161 -448 -288 -312 -314 -288 -270 -5 -

VI. Housing

A. Low-income Housing Tax Credit Improvements

1. Extension of period for rehabilitation expenditures

(sunset 12/31/21)................................................................... [8] 213 -213 --- --- --- --- --- --- -

2. Extension of basis expenditure deadline (sunset 12/31/21).. [8] 426 -426 --- --- --- --- --- --- -

3. Tax-exempt bond financing requirement (sunset 12/31/21). [9] -21 -178 -472 -708 -837 -890 -899 -899 -90

4. Minimum credit rate.............................................................. bpisa 1/20/20 -109 -232 -360 -471 -573 -674 -783 -900 -1,02

5. Increases in State allocations................................................ cyba 12/31/20 --- -21 -179 -531 -1,037 -1,632 -2,269 -2,923 -3,586. Increase in credit for certain projects designated to serve

extremely low-income households........................................ [10] -11 -94 -295 -588 -939 -1,330 -1,748 -2,192 -2,66

7. Inclusion of Indian areas as difficult development areas for

purposes of certain buildings................................................ bpisa 12/31/19 [3] -1 -2 -4 -6 -8 -11 -13 -1

8. Inclusion of rural areas as difficult development areas......... bpisa 12/31/19 -1 -13 -46 -90 -137 -186 -237 -291 -349. Increase in credit for bond-financed projects designated by

housing credit agency............................................................ bwra dohcdaa DOE

10. Repeal of qualified contract option....................................... wrsa DOE [11] 7 23 45 67 90 115 140 16

- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - No Revenue Effect - - - - - - - - - 

- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - Estimate Included in Item IV.E.3.a. - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - Estimate Included in Item IV.E.3.a. - - - 

- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - No Revenue Effect - - - - - - - - - 
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11. Prohibition of local approval and contribution

requirements.......................................................................... aohcdama 12/31/20

12. Adjustment of credit to provide relief during COVID-19

outbreak................................................................................. DOE -506 -1,936 271 271 271 271 271 271 27

13. Credit for low-income housing supportive services............. bpisa 12/31/20 -9 -79 -268 -556 -900 -1,268 -1,643 -2,020 -2,39

B. Neighborhood Homes Credit................................................ tyba 12/31/19 -193 -582 -1,366 -1,783 -2,021 -2,076 -2,135 -2,197 -2,26

Total of Housing.............................................................................................................. -211 -3,769 -2,693 -4,416 -6,112 -7,703 -9,338 -11,024 -12,75

VII. Tribal Development

1. Treatment of Indian tribes as States with respect to bond

issuance................................................................................. oii cyba DOE --- -1 -2 -3 -5 -7 -10 -13 -1

2. Treatment of Tribal foundations and charities like charities

funded and controlled by other governmental funders andsponsors................................................................................. tyba DOE [3] [3] [3] [3] [3] [3] [3] [3] [3

3. New Markets Tax Credit improvements............................... tyba DOE

Total of Tribal Development.......................................................................................... [3] -1 -2 -3 -5 -7 -10 -13 -1

VIII. Highway Trust Fund and Related Taxes

1. Extension of Highway Trust Fund expenditure authority

(sunset 9/30/25)..................................................................... DOE

2. Extension of highway-related taxes (generally

sunsets 9/30/27; heavy vehicle use tax sunsets 9/30/28)...... DOE

3. Additional transfers to Highway Trust Fund - transfer

$106.7 billion from the General Fund to the HighwayAccount in the Highway Trust Fund and $38.6 billion fromthe General Fund to the Mass Transit Account in theHighway Trust Fund............................................................. DOE

Total of Highway Trust Fund and Related Taxes.........................................................

 NET TOTAL ............................................................................................. -1,429 -10,365 -13,921 -27,132 -35,707 -41,294 -44,688 -45,251 -45,79

Joint Committee on Taxation -------------------------------------- NOTE: Details may not add to totals due to rounding. The date of enactment is assumed to be July 1, 2020.

[Legend and Footnotes for JCX-18-20 appear on the following page]

- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - No Revenue Effect - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - No Revenue Effect - - - - - - - - - 

 - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - No Revenue Effect - - - - - - - - - 

- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - Estimate Included In Item II. - - - - - 

 - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - No Revenue Effect - - - - - - - - - 

- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - No Revenue Effect - - - - - - - - - 
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Legend and Footnotes for JCX-18-20:Legend for "Effective" column: 

aohcdama = allocations of housing credit dollar amounts made after DOE = date of enactment pa = perapoia = amounts paid or incurred after dohcdaa = determination of housing credit dollar amount after popisa = 

ar = advanced refunding duaa = dwelling units acquired after ppisa = p

ara = amounts received after dwba = determinations which begin after qsgbpa = 

bimt = bonds issued more than ema = expenditures made after producbia = bonds issued after fsoua = fuel sold or used after rma = rebpisa = buildings placed in service after ftcowfba = facilities the construction for which sa = salebwra = buildings which receive a begins after tyba = tacba = construction beginning after leia = leases entered into after vsa = ve

cda = credits determined after lii = losses incurred in wrsa = w

cya = calendar years after nlt = not later than 30da = 3cyba = calendar years beginning after oia = obligations issued after 180da = 

cdf = credits determined for oii = obligations issued in

[1] Estimate contains the following outlay effects: 2020 2021 2022 2023 2024 2025 2026 2027 202

Credit to issuer for certain infrastructure bonds................................................................ 111 815 2,524 4,809 7,271 9,882 12,234 13,959 15,14Restoration of certain qualified tax credit bonds.............................................................. --- 1 7 29 65 107 154 204 25

School infrastructure bonds.......................................................................................... --- 34 174 409 638 758 778 778 77Extension of credit for electricity produced from certain renewable resources

(sunset 12/31/25)............................................................................................................ --- --- 1 3 38 115 209 307 38

Extension and modification of energy credit (sunset 12/31/26)....................................... 30 103 176 2,684 3,691 3,641 3,550 2,719 1,40

[2] This provision interacts with certain low-income housing credit provisions and tax-exempt bond provisions in the bill.[3] Loss of less than $500,000.[4] Estimate includes interaction effects with item I.A.4.[5] Not later than September 30 of each fiscal year beginning after the date of enactment, the Secretary of the Treasury shall submit to the appropriate congressional committees a report o[6] Generally effective as if included in section 14501 of Public Law 115–97.[7] Estimate includes the following budget effects: 2020 2021 2022 2023 2024 2025 2026 2027 202

Total Revenue Effect.......................................................................................................... --- -19 -20 -21 -22 -23 -15 -16 -1

On-budget effects............................................................................................................ --- -11 -12 -13 -13 -14 -9 -10 -1

Off-budget effects............................................................................................................ --- -7 -8 -8 -9 -9 -6 -6 -

[8] Effective for buildings receiving an allocation of housing credit dollar amount after December 31, 2016, and before January 1, 2022.

[9] Effective for buildings financed by an obligation issued in calendar years ending before January 1, 2022, and placed in service in taxable years beginning after December 31, 2019.

[10] Effective for buildings which receive allocation of housing credit dollar amount or, in the case of projects financed by tax-exempt bonds as described in section 42(h)(4) of the Interna

determination of housing credit dollar amount, after the date of the enactment.

[11] Gain of less than $500,000.