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SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Promoting Closed-Loop Pumped Storage 
Hydropower Act''.

SEC. 2. CLOSED-LOOP PUMPED STORAGE PROJECTS.

    Part I of the Federal Power Act (16 U.S.C. 792 et seq.) is amended 
by adding at the end the following:

``SEC. 34. CLOSED-LOOP PUMPED STORAGE PROJECTS.

    ``(a) Expedited Licensing Process for Closed-Loop Pumped Storage 
Projects.--
            ``(1) In general.--As provided in this section, the 
        Commission may issue and amend licenses and preliminary 
        permits, as appropriate, for closed-loop pumped storage 
        projects.
            ``(2) Rule.--Not later than 180 days after the date of 
        enactment of this section, the Commission shall issue a rule 
        establishing an expedited process for issuing and amending 
        licenses and preliminary permits for closed-loop pumped storage 
        projects under this section.
            ``(3) Interagency task force.--In establishing the 
        expedited process under this section, the Commission shall 
        convene an interagency task force, with appropriate Federal and 
        State agencies and Indian tribes represented, to coordinate the 
        regulatory processes associated with the authorizations 
        required to construct and operate closed-loop pumped storage 
        projects.
            ``(4) Length of process.--The Commission shall ensure that 
        the expedited process under this section will result in final 
        decision on an application for a license by not later than 2 
        years after receipt of a completed application for such 
        license.
    ``(b) Dam Safety.--Before issuing any license for a closed-loop 
pumped storage project, the Commission shall assess the safety of 
existing dams and other structures related to the project (including 
possible consequences associated with failure of such structures).
    ``(c) Exemptions From Other Requirements.--
            ``(1) In general.--In issuing or amending a license or 
        preliminary permit pursuant to the expedited process 
        established under this section, the Commission may grant an 
        exemption from any other requirement of this part with respect 
        to any part of the closed-loop pumped storage project (not 
        including any dam or other impoundment).
            ``(2) Consultation.--In granting an exemption under 
        paragraph (1), the Commission shall consult with the United 
        States Fish and Wildlife Service and the State agency 
        exercising administration over the fish and wildlife resources 
        of the State in which the closed-loop pumped storage project is 
        or will be located, in the manner provided by the Fish and 
        Wildlife Coordination Act (16 U.S.C. 661 et seq.).
            ``(3) Terms and conditions.--In granting an exemption under 
        paragraph (1), the Commission shall include in any such 
        exemption--
                    ``(A) such terms and conditions as the Fish and 
                Wildlife Service, National Marine Fisheries Service, 
                and the State agency described in paragraph (2) each 
                determine are appropriate to prevent loss of, or damage 
                to, fish and wildlife resources and to otherwise carry 
                out the purposes of the Fish and Wildlife Coordination 
                Act; and
                    ``(B) such terms and conditions as the Commission 
                deems appropriate to ensure that such closed-loop 
                pumped storage project continues to comply with the 
                provisions of this section and terms and conditions 
                included in any such exemption.
            ``(4) Fees.--The Commission, in addition to the 
        requirements of section 10(e), shall establish fees which shall 
        be paid by an applicant for a license for a closed-loop pumped 
        storage project that is required to meet terms and conditions 
        set by fish and wildlife agencies under paragraph (3). Such 
        fees shall be adequate to reimburse the fish and wildlife 
        agencies referred to in paragraph (3) for any reasonable costs 
        incurred in connection with any studies or other reviews 
        carried out by such agencies for purposes of compliance with 
        this section. The fees shall, subject to annual appropriations 
        Acts, be transferred to such agencies by the Commission for use 
        solely for purposes of carrying out such studies and shall 
        remain available until expended.
    ``(d) Transfers.--Notwithstanding section 5, and regardless of 
whether the holder of a preliminary permit for a closed-loop pumped 
storage project claimed municipal preference under section 7(a) when 
obtaining the permit, the Commission may, to facilitate development of 
a closed-loop pumped storage project--
            ``(1) add entities as joint permittees following issuance 
        of a preliminary permit; and
            ``(2) transfer a license in part to one or more 
        nonmunicipal entities as co-licensees with a municipality, if 
        the municipality retains majority ownership of the project for 
        which the license was issued.
    ``(e) Interagency Communications.--Interagency cooperation in the 
preparation of environmental documents under the National Environmental 
Policy Act of 1969 (42 U.S.C. 4321 et seq.) with respect to an 
application for a license for a closed-loop pumped storage project 
submitted pursuant to this section, and interagency communications 
relating to licensing process coordination pursuant to this section, 
shall not--
            ``(1) be considered to be ex parte communications under 
        Commission rules; or
            ``(2) preclude an agency from participating in a licensing 
        proceeding under this part.
    ``(f) Developing Abandoned Mines for Pumped Storage.--
            ``(1) Workshop.--Not later than 6 months after the date of 
        enactment of this section, the Commission shall hold a workshop 
        to explore potential opportunities for development of closed-
        loop pumped storage projects at abandoned mine sites.
            ``(2) Guidance.--Not later than 1 year after the date of 
        enactment of this section, the Commission shall issue guidance 
        to assist applicants for licenses or preliminary permits for 
        closed-loop pumped storage projects at abandoned mine sites.
    ``(g) Qualifying Criteria for Closed-Loop Pumped Storage 
Projects.--
            ``(1) In general.--The Commission shall establish criteria 
        that a pumped storage project shall meet in order to qualify as 
        a closed-loop pumped storage project eligible for the expedited 
        process established under this section.
            ``(2) Inclusions.--In establishing the criteria under 
        paragraph (1), the Commission shall include criteria requiring 
        that the pumped storage project--
                    ``(A) cause little to no change to existing surface 
                and groundwater flows and uses; and
                    ``(B) is unlikely to adversely affect species 
                listed as a threatened species or endangered species 
                under the Endangered Species Act of 1973.''.

SEC. 3. OBLIGATION FOR PAYMENT OF ANNUAL CHARGES.

    Section 10(e) of the Federal Power Act (16 U.S.C. 803(e)) is 
amended by adding at the end the following:
    ``(5) Any obligation of a licensee for payment of annual charges 
under this subsection shall commence when the construction of the 
applicable facility commences.''.

            Passed the House of Representatives December 12, 2017.

            Attest:

                                                 KAREN L. HAAS,

                                                                 Clerk.
Promoting Closed-Loop Pumped Storage Hydropower Act (Sec.2)This bill amends the Federal Power Act to authorize the Federal Energy Regulatory Commission (FERC) to establish an expedited licensing process for issuing and amending licenses and preliminary permits for closed-loop pumped storage projects (in which the upper and lower reservoirs do not impound or directly withdraw water from navigable waters, or that are not continuously connected to a naturally flowing water feature). In establishing the expedited process, FERC shall convene an interagency task force with appropriate federal and state agencies and Indian tribes to coordinate the regulatory process associated with the authorizations required to construct and operate closed-loop pumped storage projects. FERC must assess the safety of existing dams and other structures related to the project before issuing any license for a closed-loop storage project. FERC must hold a workshop to explore potential opportunities for development of storage projects at abandoned mine sites. FERC must also establish criteria that a project shall meet to qualify as a closed-loop pumped storage under this bill, including requiring that the project cause little to no change to existing surface and groundwater flows and uses and that the project is unlikely to adversely affect species listed as threatened or endangered under the Endangered Species Act of 1973. (Sec.3)Licensees are not required to pay an annual charge for administrative expenses until construction commences.

SECTION 1. REDUCTION IN LIMITATION AMOUNT APPLICABLE TO CONTRIBUTIONS 
              BY A MULTICANDIDATE POLITICAL COMMITTEE TO A HOUSE OF 
              REPRESENTATIVES CANDIDATE.

    Section 315(a)(2)(A) of the Federal Election Campaign Act of 1971 
(2 U.S.C. 441a(a)(2)(A)) is amended by inserting after ``$5,000'' the 
following: ``, except that in the case of an election for the office of 
Representative in, or Delegate or Resident Commissioner to, the 
Congress, the limitation shall be $1,000.''.

SEC. 2. PROHIBITION ON HOUSE OF REPRESENTATIVES GENERAL ELECTION 
              CONTRIBUTIONS IN NONELECTION YEARS.

    Section 315 of the Federal Election Campaign Act of 1971 (2 U.S.C. 
441a) is amended by adding at the end the following new subsection:
    ``(i) A candidate for the office of Representative in, or Delegate 
or Resident Commissioner to, the Congress may not solicit or accept any 
contribution in an odd-numbered year with respect to a general election 
for such office or any primary election relating to the general 
election.''.

SEC. 3. BAN ON SOFT MONEY.

    (a) In General.--Title III of the Federal Election Campaign Act of 
1971 (2 U.S.C. 431 et seq.) is amended by adding at the end the 
following new section:

  ``limitations and reporting requirements for amounts paid for mixed 
                          political activities

    ``Sec. 323. (a) Any payment by the national committee of a 
political party or a State committee of a political party for a mixed 
political activity--
            ``(1) shall be subject to limitation and reporting under 
        this Act as if such payment were an expenditure; and
            ``(2) may be paid only from an account that is subject to 
        the requirements of this Act.
    ``(b) As used in this section, the term `mixed political activity' 
means, with respect to a payment by the national committee of a 
political party or a State committee of a political party, an activity, 
such as a voter registration program, a get-out-the-vote drive, or 
general political advertising, that is both (1) for the purpose of 
influencing an election for Federal office, and (2) for any purpose 
unrelated to influencing an election for Federal office.''.
    (b) Repeal of Building Fund Exception to the Definition of the Term 
``Contribution''.--Section 301(8)(B) of the Federal Election Campaign 
Act of 1971 (2 U.S.C. 431(8)(B)) is amended--
            (1) by striking out clause (viii); and
            (2) by redesignating clauses (ix) through (xiv) as clauses 
        (viii) through (xiii), respectively.

SEC. 4. VOLUNTARY EXPENDITURE LIMITATION FOR HOUSE OF REPRESENTATIVES 
              ELECTIONS.

    Section 315 of the Federal Election Campaign Act of 1971 (2 U.S.C. 
441a), as amended by section 2, is further amended by adding at the end 
the following new subsection:
    ``(j) In such form and manner as the Commission may prescribe, each 
candidate for the office of Representative in, or Delegate or Resident 
Commissioner to, the Congress in a general election or a primary 
election for such office shall be given the opportunity to comply with 
a voluntary expenditure limitation of $500,000 with respect to the 
general election and any primary election relating to the general 
election. In the case of a candidate who declines to comply with the 
voluntary limitation, the limitation under subsection (a)(1)(A) shall 
be $250.''.

SEC. 5. HOUSE OF REPRESENTATIVES ELECTION LIMITATION ON CONTRIBUTIONS 
              FROM PERSONS OTHER THAN IN-STATE RESIDENTS.

    Section 315 of the Federal Election Campaign Act of 1971 (2 U.S.C. 
441a), as amended by sections 2 and 4, is further amended by adding at 
the end the following new subsection:
    ``(k)(1) A candidate for the office of Representative in, or 
Delegate or Resident Commissioner to, the Congress may not, with 
respect to a reporting period for an election, accept contributions 
from persons other than in-State residents totaling in excess of one-
half of the total of contributions accepted with respect to the 
reporting period.
    ``(2) As used in this subsection, the term `in-State resident' 
means an individual who resides in the State in which the congressional 
district involved is located.''.

SEC. 6. PROHIBITION OF FRANKED MASS MAILINGS BY MEMBERS OF THE HOUSE OF 
              REPRESENTATIVES IN ELECTION YEARS.

    Notwithstanding any other provision of law, or any rule or other 
authority, a Member of the House of Representatives may not make any 
franked mass mailing in an even-numbered year. As used in this 
section--
            (1) the term ``mass mailing'' has the meaning given that 
        term in section 3210 of title 39, United States Code; and
            (2) the term ``Member of the House of Representatives'' 
        means a Representative in, or a Delegate or Resident 
        Commissioner to, the Congress.

SEC. 7. ELIMINATION OF CARRY-OVER OF CAMPAIGN FUNDS BETWEEN HOUSE OF 
              REPRESENTATIVES ELECTIONS.

    Section 315 of the Federal Election Campaign Act of 1971 (2 U.S.C. 
441a), as amended by sections 2, 4, and 5, is further amended by adding 
at the end the following new subsection:
    ``(l) Notwithstanding any other provision of this Act, if after 
satisfying all financial obligations with respect to a general election 
and any primary election relating to the general election, a candidate 
for the office of Representative in, or Delegate or Resident 
Commissioner to, the Congress has a campaign account balance, the 
candidate shall return the excess funds to contributors or, at the 
option of the candidate, donate the excess funds to charity. No excess 
funds may be carried forward or used for any other purpose.''.
Amends the Federal Election Campaign Act of 1971 to reduce the amount of contributions that a multicandidate political committee (PAC) may make to a House of Representatives candidate. 
Prohibits House general election contributions in nonelection years. 
Sets forth:  (1) limitations and reporting requirements for amounts paid for mixed political activities ("soft money"); (2) voluntary expenditure limitations for House elections; and (3) House contribution limitations from persons other than in-State residents. 
Prohibits election-year franked mass mailings by House members. 
Requires House members to return or give to charity unused campaign funds.

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Rural Microbusiness Investment 
Credit Act of 2010''.

SEC. 2. RURAL MICROBUSINESS INVESTMENT CREDIT.

    (a) In General.--Subpart D of part IV of subchapter A of chapter 1 
of the Internal Revenue Code of 1986 (relating to business related 
credits) is amended by adding at the end the following new section:

``SEC. 45S. RURAL MICROBUSINESS INVESTMENT CREDIT.

    ``(a) In General.--For purposes of section 38, the amount of the 
rural microbusiness investment credit determined under this section for 
any taxable year with respect to a rural microbusiness is equal to 35 
percent of the qualified new investments in the rural microbusiness for 
the taxable year.
    ``(b) Limitations.--
            ``(1) Per business limitations.--The amount allowed as a 
        credit under subsection (a) with respect to any rural 
        microbusiness for a taxable year shall not exceed--
                    ``(A) $10,000, reduced (but not below zero), by
                    ``(B) the amount allowed under subsection (a) to 
                the rural microbusiness for all preceding taxable 
                years.
            ``(2) Per taxpayer limitations.--The amount allowed as a 
        credit under subsection (a) with respect to any taxpayer with 
        respect to all rural microbusinesses of the taxpayer for a 
        taxable year shall not exceed--
                    ``(A) $10,000, reduced (but not below zero), by
                    ``(B) the amount allowed under subsection (a) to 
                the taxpayer with respect to rural microbusinesses for 
                all preceding taxable years.
    ``(c) Definitions.--For purposes of this section--
            ``(1) Qualified new investment.--The term `qualified new 
        investment' means the excess of--
                    ``(A) qualified expenditures paid or incurred for 
                the taxable year, over
                    ``(B) the greater of--
                            ``(i) qualified expenditures paid or 
                        incurred for the preceding taxable year, or
                            ``(ii) the average annual qualified 
                        expenditures paid or incurred over the 
                        preceding three taxable years.
        If the rural microbusiness was not in existence (or 
        expenditures relating to such microbusiness were not taken into 
        account under subsection (a)) for the entire 3-year period 
        referred to in subparagraph (B)(ii), such subparagraph shall be 
        applied on the basis of the period during which such entity (or 
        trade or business) was in existence or such expenditures taken 
        into account.
            ``(2) Qualified expenditures.--
                    ``(A) In general.--The term `qualified 
                expenditures' means any amount which is paid or 
                incurred with respect to a rural microbusiness which is 
                not described in subparagraph (B). Such term includes 
                costs for capital plant and equipment, inventory 
                expenses, and wages.
                    ``(B) Exception.--Such term does not include--
                            ``(i) any interest cost, or
                            ``(ii) the cost of any vehicle and costs 
                        associated with purchasing a vehicle.
            ``(3) Rural microbusiness.--
                    ``(A) In general.--The term `rural microbusiness' 
                means a trade or business carried on as a 
                proprietorship, partnership, trust (to the extent that 
                the trust is a pass-thru entity), S corporation, or 
                other pass-thru entity if--
                            ``(i) such trade or business is carried on 
                        in a distressed rural area for the first 
                        taxable year in which the credit under 
                        subsection (a) is allowable to the trade or 
                        business,
                            ``(ii) such trade or business meets the 
                        gross revenue test under subparagraph (C) for 
                        the first taxable year in which the credit 
                        under subsection (a) is allowable to the trade 
                        or business,
                            ``(iii) such trade or business employed not 
                        more than 5 full-time equivalent employees 
                        during the taxable year, and
                            ``(iv) in the case of a trade or business 
                        the majority of the activity of which is in 
                        agricultural production, each individual who is 
                        an owner, shareholder, or holds a capital 
                        interest, profits interests, or beneficial 
                        interests (as the case may be) in such trade or 
                        business is a first-time farmer (as defined in 
                        section 147(c)(2)(C)).
                All persons treated as a single employer under 
                subsection (a) or (b) or section 52 or subsection (m) 
                or (o) of section 414 shall be treated as a trade or 
                business for purposes of this subparagraph.
                    ``(B) Exceptions.--Such term shall not include--
                            ``(i) any trade or business which includes, 
                        in whole or in part, any private or commercial 
                        golf course, country club, massage parlor, hot 
                        tub facility, suntan facility, racetrack or 
                        other facility used for gambling, or any store 
                        the principal business of which is the sale of 
                        alcoholic beverages for consumption off 
                        premises, or
                            ``(ii) any trade or business with respect 
                        to which records are required under section 
                        2257 of title 18, United States Code, to be 
                        maintained with respect to any performer.
                    ``(C) Gross revenue test.--
                            ``(i) In general.--A trade or business 
                        meets the gross revenue test of this 
                        subparagraph for any taxable year if the 
                        average annual gross revenue of the trade or 
                        business for the 3-taxable year period ending 
                        with the taxable year does not exceed 
                        $1,000,000.
                            ``(ii) Aggregation rules.--All persons 
                        treated as a single employer under subsection 
                        (a) or (b) or section 52 or subsection (m) or 
                        (o) of section 414 shall be treated as a trade 
                        or business for purposes of clause (i).
                            ``(iii) Special rules for entities not in 
                        existence for entire 3-year period, etc.--Rules 
                        similar to the rules of subparagraphs (A), (B), 
                        and (D) of section 448(c)(3) shall apply for 
                        purposes of this subparagraph.
                    ``(D) Self-employed individuals.--For purposes of 
                this paragraph, if, with respect to a trade or 
                business, an individual is treated as an employee under 
                section 401(c), such individual shall be treated as an 
                employee of such trade or business for purposes of the 
                preceding sentence.
                    ``(E) Full-time equivalent employee.--For purposes 
                of this paragraph--
                            ``(i) In general.--The term `full-time 
                        equivalent employee' means a number of 
                        employees equal to the number determined by 
                        dividing--
                                    ``(I) the total number of hours of 
                                service for which wages were paid by 
                                the employer to employees during the 
                                taxable year, by
                                    ``(II) 2,080.
                        Such number shall be rounded to the next lowest 
                        whole number if not otherwise a whole number.
                            ``(ii) Excess hours not counted.--If an 
                        employee works in excess of 2,080 hours of 
                        service during any taxable year, such excess 
                        shall not be taken into account under clause 
                        (i).
                            ``(iii) Hours of service.--The Secretary, 
                        in consultation with the Secretary of Labor, 
                        shall prescribe such regulations, rules, and 
                        guidance as may be necessary to determine the 
                        hours of service of an employee, including 
                        rules for the application of this paragraph to 
                        employees who are not compensated on an hourly 
                        basis.
            ``(4) Distressed rural area.--
                    ``(A) In general.--The term `distressed rural area' 
                means any area in the United States--
                            ``(i) that has lost at least 5 percent of 
                        its population over the last 10 years,
                            ``(ii) that lost at least 10 percent if its 
                        population over the last 20 years,
                            ``(iii) that has median family income below 
                        85 percent of the national median family 
                        income,
                            ``(iv) that has a poverty rate that exceeds 
                        12.5 percent, or
                            ``(v) where average unemployment in the 
                        preceding year exceeds 125 percent of the 
                        national average.
                    ``(B) Exception.--Such term does not include any 
                area which is--
                            ``(i) a city or town that has a population 
                        of more than 50,000 inhabitants, or
                            ``(ii) an urbanized area contiguous and 
                        adjacent to a city or town described in clause 
                        (i).
                    ``(C) Relevant sources of information.--In 
                determining whether an area is a distressed rural area 
                under subparagraph (A) or (B), such determination shall 
                be made in accordance with the most recent information 
                from the Bureau of the Census, the Bureau of Labor 
                Statistics, or other government entity with relevant 
                information.
            ``(5) Related persons.--A person shall be treated as 
        related to another person if the relationship between such 
        persons would result in the disallowance of losses under 
        section 267 or 707(b) (but, in applying section 267 (b) and (c) 
        for purposes of this section, paragraph (4) of section 267(c) 
        shall be treated as providing that the family of an individual 
        shall include only his spouse, ancestors, and lineal 
        descendants).
    ``(d) Material Participation.--No amount shall be allowed as a 
credit under subsection (a) to a taxpayer unless that taxpayer 
materially participates in the qualified rural microbusiness with 
respect to which the qualified expenditure is paid or incurred. For 
purposes of the preceding sentence, material participation shall be 
determined under rules similar to the rules of section 469(h).
    ``(e) Denial of Double Benefit.--No deduction or credit shall be 
allowed under any other provision of this chapter for any amount taken 
into account in determining the credit under this section.
    ``(f) Other Rules.--
            ``(1) Married couple must file joint return.--Rules similar 
        to the rules of paragraphs (2), (3), and (4) of section 21(e) 
        shall apply for purposes of this section.
            ``(2) Denial of credit to dependents.--No credit shall be 
        allowed under this section to any individual with respect to 
        whom a deduction is allowed under section 151 is allowable to 
        another taxpayer for a taxable year beginning in the calendar 
        year in which such individual's calendar year begins.''.
    (b) Credit Allowed as Part of General Business Credit.--Section 
38(b) of such Code (defining current year business credit) is amended 
by striking ``plus'' at the end of paragraph (35), by striking the 
period at the end of paragraph (36) and inserting ``, plus'', and by 
adding at the end the following new paragraph:
            ``(37) the rural microbusiness investment credit determined 
        under section 45R(a).''.
    (c) Carryover of Unused Credit.--Subsection (a) of section 39 of 
such Code is amended by adding at the end the following new paragraph:
            ``(4) 5-year carryback for rural microbusiness investment 
        credit.--Notwithstanding subsection (d), in the case of the 
        rural microbusiness investment credit--
                    ``(A) this section shall be applied separately from 
                the business credit and the marginal oil and gas well 
                production credit (other than the rural microbusiness 
                investment credit),
                    ``(B) paragraph (1) shall be applied by 
                substituting `each of the 5 taxable years' for `the 
                taxable year' in subparagraph (A) thereof, and
                    ``(C) paragraph (2) shall be applied--
                            ``(i) by substituting `25 taxable years' 
                        for `21 taxable years' in subparagraph (A) 
                        thereof, and
                            ``(ii) by substituting `24 taxable years' 
                        for `20 taxable years' in subparagraph (B) 
                        thereof.''.
    (d) Conforming Amendment.--The table of sections for subpart D of 
part IV of subchapter A of chapter 1 of such Code is amended by adding 
at the end the following new item:

``Sec. 45S. Rural microbusiness investment credit.''.
    (e) Effective Date.--The amendments made by this section shall 
apply to expenditures made in taxable years beginning after the date of 
the enactment of this Act.

Rural Microbusiness Investment Credit Act of 2010 - Amends the Internal Revenue Code to allow a business-related tax credit for 35% of new investment in a rural microbusiness. Imposes limits on such credit for businesses and individual taxpayers.

Defines: (1) "rural microbusiness" as a trade or business that employs not more than 5 full-time employees in a taxable year and is carried on in a distressed rural area; and (2) "distressed rural area" as an area that has lost at least 5% of its population over the last 10 years or 10% of its population over the last 20 years, that has a median family income below 85 % of the national median family income, that has a poverty rate that exceeds 12.5%, or where average unemployment in the preceding year exceeds 125% of the national average.