II 

Calendar No. 46 

114TH CONGRESS 

1ST SESSION S. 913 

[Report No. 114–23] 

To amend the Internal Revenue Code of 1986 to provide an investment 

tax credit for waste heat to power technology. 

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 amend the Internal Revenue Code of 1986 to provide 

an investment tax credit for waste heat to power technology. 

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

3 SECTION 1. INVESTMENT CREDIT FOR WASTE HEAT TO 

4 POWER PROPERTY. 

5 (a) IN GENERAL.—Subparagraph (A) of section 

6 48(a)(3) of the Internal Revenue Code of 1986 is amended 

7 by striking ‘‘or’’ at the end of clause (vi), by striking the 


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1 comma at the end of clause (vii) and inserting ‘‘, or’’, and 

2 by inserting after clause (vii) the following new clause: 

3 ‘‘(viii) waste heat to power property,’’. 

4 (b) WASTE HEAT TO POWER PROPERTY.—Sub5 section (c) of section 48 of the Internal Revenue Code of 

6 1986 is amended by adding at the end the following new 

7 paragraph: 

8 ‘‘(5) WASTE HEAT TO POWER PROPERTY.— 

9 ‘‘(A) IN GENERAL.—The term ‘waste heat 

10 to power property’ means property— 

11 ‘‘(i) comprising a system which gen12 erates electricity through the recovery of a 

13 qualified waste heat resource, and 

14 ‘‘(ii) which is placed in service before 

15 January 1, 2017. 

16 ‘‘(B) QUALIFIED WASTE HEAT RE17 SOURCE.—The term ‘qualified waste heat re18 source’ means— 

19 ‘‘(i) exhaust heat or flared gas from 

20 an industrial process that does not have, 

21 as its primary purpose, the production of 

22 electricity, and 

23 ‘‘(ii) a pressure drop in any gas for an 

24 industrial or commercial process. 

25 ‘‘(C) LIMITATIONS.— 


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1 ‘‘(i) IN GENERAL.—For purposes of 

2 subsection (a)(1), the basis of any waste 

3 heat to power property taken into account 

4 under this section shall not exceed the ex5 cess of— 

6 ‘‘(I) the basis of such property, 

7 over 

8 ‘‘(II) the fair market value of 

9 comparable property which does not 

10 have the capacity to capture and con11 vert a qualified waste heat resource to 

12 electricity. 

13 ‘‘(ii) CAPACITY LIMITATION.—The 

14 term ‘waste heat to power property’ shall 

15 not include any property comprising a sys16 tem if such system has a capacity in excess 

17 of 50 megawatts.’’. 

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

19 this section shall apply to periods after the date of the 

20 enactment of this Act, in taxable years ending after such 

21 date, under rules similar to the rules of section 48(m) of 

22 the Internal Revenue Code of 1986 (as in effect on the 

23 day before the date of the enactment of the Revenue Rec24 onciliation Act of 1990). 


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1 SEC. 2. INCREASE IN CONTINUOUS LEVY. 

2 (a) IN GENERAL.—Paragraph (3) of section 6331(h) 

3 of the Internal Revenue Code of 1986 is amended by strik4 ing ‘‘30 percent’’ and inserting ‘‘35 percent’’. 

5 (b) EFFECTIVE DATE.—The amendment made by 

6 this section shall apply to payments made after 180 days 

7 after the date of the enactment of this Act. 


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Calendar No. 46 

114TH CONGRESS 

1ST SESSION S. 913 

[Report No. 114–23] 

A BILL 

To amend the Internal Revenue Code of 1986 to 

to power technology. provide an investment tax credit for waste heat 

APRIL 14, 2015 

Read twice and placed on the calendar 


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