A bill to amend the Internal Revenue Code of 1986 to extend the credit for production of refined coal.

Bill: 116-s-1405
Sponsor: full_name: Sen. Daines, Steve [R-MT]
Introduced: 2019-05-09
Policy area: Taxation
Subjects: Coal

Electric power generation and transmission

Income tax credits
Latest action: action_date: 2019-05-09
text: Read twice and referred to the Committee on Finance.

Summaries:
action_date: 2019-05-09
action_desc: Introduced in Senate
text: <p>This bill extends the tax credit for the production of refined coal by allowing eligible taxpayers to claim the credit for an additional two years.</p>

tv_txt: II 116th CONGRESS 1st Session S. 1405 IN THE SENATE OF THE UNITED STATES May 9, 2019 Mr. Daines (for himself, Mr. Cramer , Mrs. Capito , and Mr. Gardner ) 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 credit for production of refined coal.

1. Extension of refined coal production tax credit (a) In general Section 45(e)(8) of the Internal Revenue Code of 1986 is amended— (1) in subparagraph (A), by striking 10-year period each place it appears and inserting 12-year period , and (2) in subparagraph (D)(ii)(II), by striking 10-year period and inserting 12-year period . (b) Effective date The amendments made by this section shall apply to coal produced and sold after December 31, 2018.