Linear Generator Parity Act

Bill: 117-s-1485
Sponsor: full_name: Sen. Brown, Sherrod [D-OH]
Introduced: 2021-04-29
Policy area: Taxation
Subjects: Alternative and renewable resources

Business investment and capital

Electric power generation and transmission

Income tax credits
Latest action: action_date: 2021-04-29
text: Read twice and referred to the Committee on Finance.

Summaries:
action_date: 2021-04-29
action_desc: Introduced in Senate
text: <p><b>Linear Generator Parity Act</b></p> <p>This bill modifies the tax credit for investments in energy property to make qualified fuel cell property (certain fuel cell power plants) that uses an electromechanical process eligible for the credit.</p>

tv_txt: II 117th CONGRESS 1st Session S. 1485 IN THE SENATE OF THE UNITED STATES April 29, 2021 Mr. Brown (for himself and Mr. Portman ) 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 include fuel cells using electromechanical processes for purposes of the energy tax credit.

1. Short title This Act may be cited as the Linear Generator Parity Act . 2. Including fuel cells using electromechanical processes for purposes of the energy tax credit (a) In general Paragraph (1) of section 48(c) of the Internal Revenue Code of 1986 is amended— (1) in subparagraph (A)(i), by inserting or electromechanical after electrochemical , and (2) in subparagraph (C)— (A) by inserting , or linear generator assembly, after a fuel cell stack assembly , and (B) by striking electrochemical means and inserting electrochemical or electromechanical means without the use of rotating parts . (b) Effective date The amendments made by this section shall apply to property placed in service after the date of the enactment of this Act.