Title: To amend the Internal Revenue Code of 1986 to permanently extend the Indian coal production tax credit, and for other purposes.
Policy area: Taxation

Summary:
This bill amends the Internal Revenue Code to permanently increase the tax credit for production of electricity from renewable resources by $4.00 per ton in the case of Indian coal, with an updated inflation adjustment to the dollar amount for calendar years after 2018.

[Congressional Bills 116th Congress]
[From the U.S. Government Publishing Office]
[H.R. 3542 Introduced in House (IH)]

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116th CONGRESS
  1st Session
                                H. R. 3542

 To amend the Internal Revenue Code of 1986 to permanently extend the 
       Indian coal production tax credit, and for other purposes.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                             June 27, 2019

Mr. Gianforte 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 permanently extend the 
       Indian coal production tax credit, and for other purposes.

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

SECTION 1. PERMANENT EXTENSION OF INDIAN COAL PRODUCTION TAX CREDIT.

    (a) In General.--Section 45(e)(10) of the Internal Revenue Code of 
1986 is amended--
            (1) in subparagraph (A), by striking ``the applicable 
        dollar amount per ton of Indian coal'' and all that follows and 
        inserting the following: ``$4.00 per ton of Indian coal--
                            ``(i) produced by the taxpayer at an Indian 
                        coal production facility, and
                            ``(ii) sold (either directly by the 
                        taxpayer or after sale or transfer to one or 
                        more related persons) to an unrelated person 
                        during such taxable year.'', and
            (2) by striking subparagraph (B) and inserting the 
        following:
                    ``(B) Inflation adjustment.--In the case of any 
                calendar year after 2018, the dollar amount in 
                subparagraph (A) shall be equal to the product of such 
                dollar amount and the inflation adjustment factor 
                determined under paragraph (2)(B) for the calendar 
                year, except that such paragraph shall be applied by 
                substituting `2017' for `1992'.''.
    (b) Definition of Indian Coal.--Subparagraph (A) of section 
45(c)(9) of the Internal Revenue Code of 1986 is amended to read as 
follows:
                    ``(A) In general.--The term `Indian coal' means 
                coal which is produced from coal reserves which are--
                            ``(i) owned or controlled by an Indian 
                        tribe,
                            ``(ii) owned or controlled by an enrolled 
                        member of an Indian tribe, or
                            ``(iii) held in trust by the United States 
                        for the benefit of an Indian tribe or its 
                        members.''.
    (c) Effective Date.--The amendments made by this section shall 
apply to coal produced and sold after January 1, 2018.
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