II 

Calendar No. 52 

114TH CONGRESS 

1ST SESSION S. 919 

[Report No. 114–29] 

To exclude from gross income certain clean coal power grants to non-corporate 

taxpayers. 

IN THE SENATE OF THE UNITED STATES 

APRIL 14, 2015 

Mr. HATCH, from the Committee on Finance, reported the following original 

bill; which was read twice and placed on the calendar 

A BILL 

To exclude from gross income certain clean coal power grants 

to non-corporate taxpayers. 

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

3 SECTION 1. EXCLUSION FROM GROSS INCOME OF CERTAIN 

4 CLEAN COAL POWER GRANTS TO NON-COR5 PORATE TAXPAYERS. 

6 (a) GENERAL RULE.—In the case of an eligible tax7 payer other than a corporation, gross income for purposes 


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•S 919 PCS

1 of the Internal Revenue Code of 1986 shall not include 

2 any amount which— 

3 (1) is received under section 402 of the Energy 

4 Policy Act of 2005, and 

5 (2) if received by a corporation, would be ex6 cluded from gross income under section 118 of the 

7 Internal Revenue Code of 1986. 

8 (b) REDUCTION IN BASIS.—The basis of any prop9 erty subject to the allowance for depreciation or amortiza10 tion under the Internal Revenue Code of 1986 which is 

11 acquired with any amount to which subsection (a) applies 

12 during the 12-month period beginning on the day such 

13 amount is received shall be reduced by an amount equal 

14 to such amount. The excess (if any) of such amount over 

15 the amount of the reduction under the preceding sentence 

16 shall be applied to the reduction (as of the last day of 

17 the period specified in the preceding sentence) of the basis 

18 of any other property held by the taxpayer. The particular 

19 properties to which the reductions required by this sub20 section are allocated shall be determined by the Secretary 

21 of the Treasury (or the Secretary’s delegate) under regula22 tions similar to the regulations under section 362(c)(2) of 

23 such Code. 

24 (c) ELIGIBLE TAXPAYER.—For purposes of this sec25 tion, with respect to any amount received under section 


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1 402 of the Energy Policy Act of 2005, the term ‘‘eligible 

2 taxpayer’’ means a taxpayer that makes a payment to the 

3 Secretary of the Treasury (or the Secretary’s delegate) 

4 equal to 1.18 percent of the amount so received. Such pay5 ment shall be made at such time and in such manner as 

6 such Secretary (or the Secretary’s delegate) shall pre7 scribe. In the case of a partnership, such Secretary (or 

8 the Secretary’s delegate) shall prescribe regulations to de9 termine the allocation of such payment amount among the 

10 partners. 

11 (d) EFFECTIVE DATE.—This section shall apply to 

12 amounts received under section 402 of the Energy Policy 

13 Act of 2005 in taxable years beginning after December 

14 31, 2011. 


emcdonald on DSK67QTVN1PROD with BILLS
Calendar No. 52 

114TH CONGRESS 

1ST SESSION S. 919 

[Report No. 114–29] 

A BILL 

To exclude from gross income certain clean coal 

power grants to non-corporate taxpayers. 

APRIL 14, 2015 

Read twice and placed on the calendar 


emcdonald on DSK67QTVN1PROD with BILLS