Title: Renewable Energy Extension Act of 2019
Policy area: Taxation

Summary:
Renewable Energy Extension Act of 2019
This bill extends the energy tax credit for certain renewable resources and the credit for residential energy efficient property for five years.

[Congressional Bills 116th Congress]
[From the U.S. Government Publishing Office]
[S. 2289 Introduced in Senate (IS)]

<DOC>






116th CONGRESS
  1st Session
                                S. 2289

To amend the Internal Revenue Code of 1986 to provide for an extension 
 of the energy credit and the credit for residential energy efficient 
                               property.


_______________________________________________________________________


                   IN THE SENATE OF THE UNITED STATES

                             July 25, 2019

Ms. Cortez Masto (for herself, Mr. Whitehouse, Mr. Merkley, Mr. Booker, 
    Mr. Udall, Ms. Klobuchar, Mr. Van Hollen, Mr. Blumenthal, Mrs. 
   Feinstein, Mr. Bennet, Mr. Reed, Mrs. Gillibrand, Ms. Rosen, Ms. 
  Harris, Mr. Coons, and Ms. Baldwin) introduced the following bill; 
     which was read twice and referred to the Committee on Finance

_______________________________________________________________________

                                 A BILL


 
To amend the Internal Revenue Code of 1986 to provide for an extension 
 of the energy credit and the credit for residential energy efficient 
                               property.

    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 ``Renewable Energy Extension Act of 
2019''.

SEC. 2. EXTENSION AND PHASEOUT OF ENERGY CREDIT.

    (a) Extensions.--Section 48 of the Internal Revenue Code of 1986 is 
amended--
            (1) in subsection (a)--
                    (A) in paragraph (2)(A)(i)(II), by striking 
                ``January 1, 2022'' and inserting ``January 1, 2027''; 
                and
                    (B) in paragraph (3)(A)--
                            (i) in clause (ii), by striking ``January 
                        1, 2022'' and inserting ``January 1, 2027''; 
                        and
                            (ii) in clause (vii), by striking ``January 
                        1, 2022'' and inserting ``January 1, 2027''; 
                        and
            (2) in subsection (c)--
                    (A) in paragraph (1)(D), by striking ``January 1, 
                2022'' and inserting ``January 1, 2027'';
                    (B) in paragraph (2)(D), by striking ``January 1, 
                2022'' and inserting ``January 1, 2027'';
                    (C) in paragraph (3)(A)(iv), by striking ``January 
                1, 2022'' and inserting ``January 1, 2027''; and
                    (D) in paragraph (4)(C), by striking ``January 1, 
                2022'' and inserting ``January 1, 2027''.
    (b) Phaseouts.--
            (1) Solar energy property.--Section 48(a)(6) of the 
        Internal Revenue Code of 1986 is amended--
                    (A) in subparagraph (A)--
                            (i) by striking ``January 1, 2022, the 
                        energy percentage'' and inserting ``January 1, 
                        2027, the energy percentage'';
                            (ii) in clause (i), by striking ``after 
                        December 31, 2019, and before January 1, 2021'' 
                        and inserting ``after December 31, 2024, and 
                        before January 1, 2026''; and
                            (iii) in clause (ii), by striking ``after 
                        December 31, 2020, and before January 1, 2022'' 
                        and inserting ``after December 31, 2025, and 
                        before January 1, 2027''; and
                    (B) in subparagraph (B), by striking ``begins 
                before January 1, 2022, and which is not placed in 
                service before January 1, 2024'' and inserting ``begins 
                before January 1, 2027, and which is not placed in 
                service before January 1, 2029''.
            (2) Fiber-optic solar, qualified fuel cell, and qualified 
        small wind energy property.--Section 48(a)(7) of such Code is 
        amended--
                    (A) in subparagraph (A)--
                            (i) in clause (i), by striking ``after 
                        December 31, 2019, and before January 1, 2021'' 
                        and inserting ``after December 31, 2024, and 
                        before January 1, 2026''; and
                            (ii) in clause (ii), by striking ``after 
                        December 31, 2020, and before January 1, 2022'' 
                        and inserting ``after December 31, 2025, and 
                        before January 1, 2027''; and
                    (B) in subparagraph (B), by striking ``January 1, 
                2024'' and inserting ``January 1, 2029''.
    (c) Effective Date.--The amendments made by this section shall take 
effect on January 1, 2020.

SEC. 3. EXTENSION AND PHASEOUT OF CREDIT FOR RESIDENTIAL ENERGY 
              EFFICIENT PROPERTY.

    (a) Applicable Percentage.--Subsection (g) of section 25D of the 
Internal Revenue Code of 1986 is amended--
            (1) in paragraph (1), by striking ``January 1, 2020'' and 
        inserting ``January 1, 2025'';
            (2) in paragraph (2), by striking ``after December 31, 
        2019, and before January 1, 2021'' and inserting ``after 
        December 31, 2024, and before January 1, 2026''; and
            (3) in paragraph (3), by striking ``after December 31, 
        2020, and before January 1, 2022'' and inserting ``after 
        December 31, 2025, and before January 1, 2027''.
    (b) Termination.--Subsection (h) of section 25D of such Code is 
amended by striking ``December 31, 2021'' and inserting ``December 31, 
2026''.
    (c) Effective Date.--The amendments made by this section shall 
apply to property placed in service after December 31, 2019.
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