Renewable Energy Extension Act of 2019

Bill: 116-s-2289
Sponsor: full_name: Sen. Cortez Masto, Catherine [D-NV]
Introduced: 2019-07-25
Policy area: Taxation
Subjects: Alternative and renewable resources

Energy efficiency and conservation

Income tax credits

Lighting, heating, cooling

Residential rehabilitation and home repair
Latest action: action_date: 2019-07-25
text: Read twice and referred to the Committee on Finance.

Summaries:
action_date: 2019-07-25
action_desc: Introduced in Senate
text: <p><b>Renewable Energy Extension Act of 2019</b></p> <p>This bill extends the energy tax credit for certain renewable resources and the credit for residential energy efficient property for five years.</p>

tv_txt: II 116th CONGRESS 1st Session S. 2289 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.

1. Short title This Act may be cited as the Renewable Energy Extension Act of 2019 . 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. 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.