Renewable Electricity Tax Credit Equalization Act

Bill: 116-hr-4186
Sponsor: full_name: Rep. Stefanik, Elise M. [R-NY-21]
Introduced: 2019-08-13
Policy area: Taxation
Subjects: Alternative and renewable resources

Business investment and capital

Electric power generation and transmission

Income tax credits
Latest action: action_date: 2019-08-13
text: Referred to the House Committee on Ways and Means.

Summaries:
action_date: 2019-08-13
action_desc: Introduced in House
text: <p><strong>Renewable Electricity Tax Credit Equalization Act</strong></p> <p>This bill extends the energy tax credit for investment in certain qualified investment credit facilities and the credit for production of electricity from certain renewable resources (e.g., wind, biomass, solar, trash, and hydropower&nbsp;facilities).</p>

tv_txt: I 116th CONGRESS 1st Session H. R. 4186 IN THE HOUSE OF REPRESENTATIVES August 13, 2019 Ms. Stefanik (for herself and Mr. Peters ) 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 modify the credit for electricity produced from certain renewable resources and the investment credit for certain qualified investment credit facilities.

1. Short title This Act may be cited as the Renewable Electricity Tax Credit Equalization Act . 2. Extension of credit for qualified investment credit facilities (a) In general Section 48(a)(5)(C)(ii) of the Internal Revenue Code of 1986 is amended to read as follows: (ii) which is placed in service after 2008 and the construction of which begins before January 1, 2018 (January 1, 2020, in the case of any facility which is described in paragraph (1) of section 45(d) or January 1, 2025, in the case of any facility which is described in paragraph (2), (3), (4), (6), (7), (9) or (11) of section 45(d)), and . (b) Effective date The amendments made by this section shall apply to facilities the construction of which begins after December 31, 2017. 3. Extension and modification of production credits for certain facilities (a) Extension of credit Paragraphs (2), (3), (4), (6), (7), (9), and (11) of section 45(d) of the Internal Revenue Code of 1986 are each amended by striking January 1, 2018 and inserting January 1, 2025 . (b) Full credit allowed for certain facilities Section 45(b)(4)(A) of such Code is amended by inserting and the construction of which began before the date of the enactment of the Renewable Electricity Tax Credit Equalization Act after subsection (d) . (c) Effective dates (1) Extension The amendments made by subsection (a) shall apply to facilities the construction of which begins after December 31, 2017. (2) Allowance of full credit The amendment made by subsection (b) shall apply to facilities the construction of which begins on or after the date of the enactment of this Act.