Renewable Energy Parity Act of 2014

Bill: 113-s-2003
Sponsor: full_name: Sen. Bennet, Michael F. [D-CO]
Introduced: 2014-02-06
Policy area: Taxation
Subjects: Alternative and renewable resources

Income tax credits

Lighting, heating, cooling
Latest action: action_date: 2014-02-06
text: Read twice and referred to the Committee on Finance.

Summaries:
action_date: 2014-02-06
action_desc: Introduced in Senate
text: <p>Renewable Energy Parity Act of 2014 - Amends the Internal Revenue Code to extend the energy tax credit to solar energy, fuel cell, microturbine, combined heat and power system, small wind energy, and thermal energy properties the construction of which begins before January 1, 2017. </p>

tv_txt: II 113th CONGRESS 2d Session S. 2003 IN THE SENATE OF THE UNITED STATES February 6, 2014 Mr. Bennet (for himself and Mr. Heller ) 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 extend the energy credit for certain property under construction.

1. Short title This Act may be cited as the Renewable Energy Parity Act of 2014 . 2. Extension of energy credit for certain property under construction (a) Solar energy property Paragraphs (2)(A)(i)(II) and (3)(A)(ii) of section 48(a) of the Internal Revenue Code of 1986 are each amended by striking periods ending and inserting property the construction of which begins . (b) Qualified fuel cell property Section 48(c)(1)(D) of such Code is amended by striking for any period after December 31, 2016 and inserting the construction of which does not begin before January 1, 2017 . (c) Qualified microturbine property Section 48(c)(2)(D) of such Code is amended by striking for any period after December 31, 2016 and inserting the construction of which does not begin before January 1, 2017 . (d) Combined heat and power system property Section 48(c)(3)(A)(iv) of such Code is amended by striking which is placed in service and inserting construction of which begins . (e) Qualified small wind energy property Section 48(c)(4)(C) of such Code is amended by striking for any period after December 31, 2016 and inserting the construction of which does not begin before January 1, 2017 . (f) Thermal energy property Section 48(a)(3)(A)(vii) of such Code is amended by striking periods ending and inserting property the construction of which begins . (g) Effective date The amendments made by this section shall take effect on the date of the enactment of this Act.