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[Congressional Bills 111th Congress]
[From the U.S. Government Publishing Office]
[S. 3438 Introduced in Senate (IS)]

111th CONGRESS
  2d Session
                                S. 3438

     To promote clean energy infrastructure for rural communities.

_______________________________________________________________________

                   IN THE SENATE OF THE UNITED STATES

                 May 27 (legislative day, May 26), 2010

Mr. Reid (for himself, Mr. Ensign, Mr. Harkin, Mr. Tester, Mr. Bennet, 
and Ms. Klobuchar) introduced the following bill; which was read twice 
                and referred to the Committee on Finance

_______________________________________________________________________

                                 A BILL

 
     To promote clean energy infrastructure for rural communities.

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

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Clean Transmission for Rural 
Communities Act of 2010''.

SEC. 2. TRANSMISSION FOR RENEWABLES.

    (a) Clarification of Qualified Facilities for Clean Renewable 
Energy Bonds.--
            (1) In general.--Section 54C(d)(1) of the Internal Revenue 
        Code of 1986 is amended by inserting ``, or a facility 
        primarily for the purpose of interconnecting one or more such 
        qualified facilities to a high-voltage transmission line'' 
        after ``electric company''.
            (2) Effective date.--The amendment made by this subsection 
        shall apply to bonds issued after the date of enactment of this 
        Act.
    (b) Tax-Exempt Financing of Certain Electric Transmission 
Facilities.--
            (1) In general.--Subsection (a) of section 142 of the 
        Internal Revenue Code of 1986 is amended--
                    (A) by striking ``or'' at the end of paragraph 
                (14),
                    (B) by striking the period at the end of paragraph 
                (15) and inserting ``, or'', and
                    (C) by adding at the end the following new 
                paragraph:
            ``(16) qualified electric transmission facilities.''.
            (2) Definition.--Section 142 of such Code is amended by 
        adding at the end the following new subsection:
    ``(n) Qualified Electric Transmission Facilities.--
            ``(1) In general.--For purposes of subsection (a)(16), the 
        term `qualified electric transmission facility' means any 
        electric transmission facility which is--
                    ``(A) owned by--
                            ``(i) a State or political subdivision of a 
                        State, or any agency, authority, or 
                        instrumentality of any of the foregoing, 
                        providing electric service, directly or 
                        indirectly to the public, or
                            ``(ii) a State or political subdivision of 
                        a State expressly authorized under State law to 
                        finance and own electric transmission 
                        facilities, and
                    ``(B) primarily for the purpose of interconnecting 
                one or more renewable energy facilities to a high-
                voltage transmission line.
            ``(2) Termination.--Subsection (a)(16) shall not apply with 
        respect to any bond issued after December 31, 2011.''.
            (3) Effective date.--The amendments made by this subsection 
        shall apply to bonds issued after the date of enactment of this 
        Act.
                                 <all>
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