II 

110TH CONGRESS 

1ST SESSION S. 1527 

To amend the Internal Revenue Code of 1986 to provide a tax credit for 

renovation and construction of manufacturing facilities for incandescent 

lamps. 

IN THE SENATE OF THE UNITED STATES 

MAY 24, 2007 

Mr. STEVENS (for himself, Mr. LIEBERMAN, Ms. SNOWE, Mr. CARPER, Ms. 

MURKOWSKI, and Ms. LANDRIEU) introduced the following bill; which 

was read twice and referred to the Committee on Finance 

A BILL 

To amend the Internal Revenue Code of 1986 to provide 

a tax credit for renovation and construction of manufacturing facilities for incandescent lamps. 

1 Be it enacted by the Senate and House of Representa2 tives of the United States of America in Congress assembled, 

3 SECTION 1. TAX CREDIT FOR RENOVATION AND CON4 STRUCTION OF MANUFACTURING FACILITIES 

5 FOR INCANDESCENT LAMPS. 

6 (a) IN GENERAL.—Subpart B of part IV of sub7 chapter A of chapter 1 of the Internal Revenue Code of 

8 1986 (relating to foreign tax credit, etc.) is amended by 

9 adding at the end the following new section: 


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1 ‘‘SEC. 30D. ENERGY-EFFICIENT INCANDESCENT LAMP MAN2 UFACTURING CREDIT. 

3 ‘‘(a) CREDIT ALLOWED.—There shall be allowed as 

4 a credit against the tax imposed by this chapter for the 

5 taxable year an amount equal to 20 percent of the quali6 fied investment of an eligible taxpayer for such taxable 

7 year. 

8 ‘‘(b) QUALIFIED INVESTMENT.—For purposes of this 

9 section, the qualified investment for any taxable year is 

10 equal to the incremental costs incurred during such tax11 able year to re-equip, expand, or construct any manufac12 turing facility in the United States of the eligible taxpayer 

13 to produce general service lamps which meet the require14 ments established under section 2(a) of the Bright Idea 

15 Act of 2007 as determined by the Secretary in consulta16 tion with the Secretary of Commerce pursuant to the regu17 lations described in subsection (e). 

18 ‘‘(c) ELIGIBLE TAXPAYER.—The term ‘eligible tax19 payer’ means any taxpayer who is in the business of pro20 ducing general service incandescent lamps. 

21 ‘‘(d) OTHER RULES.— 

22 ‘‘(1) REDUCTION IN BASIS.—For purposes of 

23 this subtitle, if a credit is allowed under this section 

24 for any expenditure with respect to any property, the 

25 increase in the basis of such property which would 

26 (but for this paragraph) result from such expendiVerDate Aug 31 2005 17:08 May 27, 2007 Jkt 059200 PO 00000 Frm 00002 Fmt 6652 Sfmt 6201 E:\BILLS\S1527.IS S1527

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1 ture shall be reduced by the amount of the credit so 

2 allowed. 

3 ‘‘(2) ELECTION NOT TO TAKE CREDIT.—No 

4 credit shall be allowed under subsection (a) for any 

5 property if the taxpayer elects not to have this sec6 tion apply to such property. 

7 ‘‘(e) REGULATIONS.—The Secretary of Energy shall 

8 prescribe such regulations as necessary to carry out the 

9 provisions of this section.’’. 

10 (b) CONFORMING AMENDMENTS.— 

11 (1) Section 1016(a) of the Internal Revenue 

12 Code of 1986 is amended by striking ‘‘and’’ at the 

13 end of paragraph (36), by striking the period at the 

14 end of paragraph (37) and inserting a comma and 

15 ‘‘and’’, and by adding at the end the following: 

16 ‘‘(38) to the extent provided in section 

17 30D(d)(1).’’. 

18 (2) Section 6501(m) of such Code is amended 

19 by inserting ‘‘30D(d)(2),’’ after ‘‘30C(e)(5),’’. 

20 (3) The table of sections for subpart B of part 

21 IV of subchapter A of chapter 1 of such Code is 

22 amended by inserting after the item relating to sec23 tion 30C the following new item: 

‘‘30D. Energy-efficient incandescent lamp manufacturing credit.’’. 

24 (c) EFFECTIVE DATE.—The amendments made by 

25 this section shall apply to amounts incurred in taxable 


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1 years beginning after December 31, 2006, and ending De2 cember 31, 2010. 

Æ 


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