I 
111TH CONGRESS 
2D SESSION 
H. R. 5372 
To amend the Internal Revenue Code of 1986 to treat any business credit 
attributable to wind, solar, or biomass electricity production and invest-
ment in solar energy property as refundable to the extent the taxpayer 
makes new wind, solar, and other renewable energy investments. 
IN THE HOUSE OF REPRESENTATIVES 
MAY 24, 2010 
Mr. MEEK of Florida (for himself, Mr. POMEROY, and Mr. NUNES) introduced 
the following bill; which was referred to the Committee on Ways and Means 
A BILL 
To amend the Internal Revenue Code of 1986 to treat any 
business credit attributable to wind, solar, or biomass 
electricity production and investment in solar energy 
property as refundable to the extent the taxpayer makes 
new wind, solar, and other renewable energy investments. 
Be it enacted by the Senate and House of Representa-
tives of the United States of America in Congress assembled, 
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SECTION 1. WIND, SOLAR, AND BIOMASS PRODUCTION AND 
SOLAR INVESTMENT CREDITS MADE TEMPO-
RARILY REFUNDABLE. 
(a) IN GENERAL.—Section 38 of the Internal Rev-
enue Code of 1986 is amended by adding at the end the 
following new subsection: 
‘‘(e) SPECIAL RULE FOR ELECTRICITY PRODUCED 
FROM WIND, SOLAR, AND BIOMASS AND INVESTMENTS 
IN SOLAR ENERGY PROPERTY.— 
‘‘(1) IN GENERAL.—In the case of any specified 
energy business credit for any taxable year begin-
ning in 2010 or 2011, the taxpayer may elect to 
treat such credit (or any portion thereof) as allowed 
for such taxable year under subpart C and not 
under this section. 
‘‘(2) LIMITED TO INVESTMENT IN WIND, SOLAR 
AND OTHER RENEWABLES.—The amount of speci-
fied energy business credit with respect to which an 
election may be made under paragraph (1) shall not 
exceed the basis of any facility described in section 
45(d), or property described in section 48(a)(3), 
placed in service by the taxpayer during the subse-
quent taxable year. 
‘‘(3) DEFINITIONS.—For purposes of this sub-
section— 
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‘‘(A) SPECIFIED ENERGY BUSINESS CRED-
IT.—The term ‘specified energy business credit’ 
means, with respect to any taxable year, the 
sum of— 
‘‘(i) any current year business credit 
(determined without regard to this sub-
section) to the extent determined under 
section 45(a) or 48(a) with respect to spec-
ified energy property, plus 
‘‘(ii) 
any 
business 
credit 
carryforwards carried to such taxable year 
(determined without regard to this sub-
section) to the extent determined under 
section 45(a) or 48(a) with respect to spec-
ified energy property . 
‘‘(B) SPECIFIED ENERGY PROPERTY.—The 
term ‘specified energy property’ means any 
property described in section 48(a)(3)(A)(i), 
any facility described in paragraph (1), (2), or 
(3) of section 45(d), or any facility using solar 
energy to produce electricity and described in 
section 45(d)(4). 
‘‘(4) SPECIAL RULES.— 
‘‘(A) GENERAL
BUSINESS
CREDIT
RE-
DUCED.—The credit which would (but for this 
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