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SECTION 1. SHORT TITLE.

This Act may be cited as the ''Resource Efficient Appliance
Incentives Act of 2005.''.

SEC. 2. CREDIT FOR ENERGY EFFICIENT APPLIANCES.

(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. 45J. ENERGY EFFICIENT APPLIANCE CREDIT.

''(a) General Rule.--
''(1) In general.--For purposes of section 38, the energy
efficient appliance credit determined under this section for
the taxable year is an amount equal to the sum of the credit
amounts determined for each type of qualified energy efficient
appliance.
''(2) Credit amounts.--The credit amount determined for a
type of qualified energy efficient appliance is the sum of--
''(A) the applicable amount determined under
subsection (b) with respect to a qualified energy
efficient appliance, multiplied by
''(B) the number of such appliances produced by the
taxpayer in the United States during the calendar year
ending with or within the taxable year.
''(b) Applicable Amount; Eligible Production.--For purposes of
subsection (a)--
''(1) Applicable amount.--
''(A) In general.--The applicable amount determined
under this subsection is the amount determined under
the following table:

''Qualified Energy Efficient Produced in calendar year-- Applicable
Appliance amount is--
------------------------------------------------------------------------
Clothes washer with at least 2005 $50
1.42 MEF.
Clothes washer with MEF at 2005, 2006, or 2007 $100
least Energy Star level in
effect in 2007.
Clothes washer with MEF at 2008, 2009, or 2010 $150
least Energy Star level in
effect in 2010.
Dishwasher with EF at least 2006, 2007, 2008, or 2009 $75
Energy Star level in effect
in 2007.
Refrigerator consuming at 2005 or 2006 $100
least 15 percent less
kilowatt hours per year
than 2001 energy
conservation standard.
Refrigerator consuming at 2005, 2006, 2007, 2008, or $150
least 20 percent less 2009
kilowatt hours per year
than 2001 energy
conservation standard.
Refrigerator consuming at 2010 $150
least 25 percent less
kilowatt hours per year
than 2001 energy
conservation standard.
------------------------------------------------------------------------

''(B) Other appliances.--In the case of any
appliance not described in the table in subparagraph
(A), the applicable amount shall be zero.
''(2) Eligible production.--
''(A) In general.--The eligible production in a
calendar year with respect to each type of energy
efficient appliance described in the table in paragraph
(1) is the excess of--
''(i) the number of appliances of such type
which meet the energy efficiency described for
such type in the table in paragraph (1) and
which are produced by the taxpayer during such
calendar year, over
''(ii) the average number of appliances of
such type which meet the energy efficiency
described for such type in the table in
paragraph (1) and which were produced by the
taxpayer (or any predecessor) during the
preceding 3-calendar year period.
''(B) Special rule for 2005 production.--For
purposes of determining eligible production for
calendar year 2005--
''(i) only production after the date of
enactment of this section shall be taken into
account under subparagraph (A)(i), and
''(ii) the amount taken into account under
subparagraph (A)(ii) shall be an amount which
bears the same ratio to the amount which would
(but for this subparagraph) be taken into
account under subparagraph (A)(ii) as--
''(I) the number of days in
calendar year 2005 after the date of
enactment of this section, bears to
''(II) 365.
''(c) Limitations.--
''(1) Aggregate credit amount allowed.--The aggregate
amount of credit allowed under subsection (a) with respect to a
taxpayer for all taxable years shall not exceed $75,000,000,
reduced by the amount of the credit allowed under subsection
(a) to the taxpayer (or any predecessor) for any prior taxable
year.
''(2) Amount allowed for certain appliances.--
''(A) In general.--In the case of appliances
described in subparagraph (B), the aggregate amount of
the credit allowed under subsection (a) with respect to
a taxpayer for all taxable years shall not exceed
$35,000,000, reduced by the amount of the credit
allowed under subsection (a) to the taxpayer (or any
predecessor) for any prior taxable year with respect to
such appliances.
''(B) Appliances described.--The appliances
described in this subparagraph are--
''(i) clothes washers with at least a 1.42
MEF, as described in the table in subsection
(b)(1),
''(ii) refrigerators which consume at least
15 percent less kilowatt hours per year than
applicable energy conservation standards, as
described in such table, and
''(iii) dishwashers described in such
table.
''(3) Limitation based on gross receipts.--The credit
allowed under subsection (a) with respect to a taxpayer for the
taxable year shall not exceed an amount equal to 2 percent of
the average annual gross receipts of the taxpayer for the 3
taxable years preceding the taxable year in which the credit is
determined.
''(4) Gross receipts.--For purposes of this subsection, the
rules of paragraphs (2) and (3) of section 448(c) shall apply.
''(d) Definitions.--For purposes of this section--
''(1) Qualified energy efficient appliance.--The term
'qualified energy efficient appliance' means an appliance
described in the table in subsection (b)(1).
''(2) Clothes washer.--The term 'clothes washer' means a
residential model clothes washer, including a residential style
coin operated washer.
''(3) Refrigerator.--The term 'refrigerator' means a
residential model automatic defrost refrigerator-freezer which
has an internal volume of at least 16.5 cubic feet.
''(4) Dishwasher.--The term 'dishwasher' means a
residential dishwasher subject to the energy conservation
standards established by the Department of Energy.
''(5) MEF.--The term 'MEF' means the modified energy
factor, as determined by the Secretary of Energy.
''(6) Energy factor.--The term 'EF' means the energy factor
established by the Department of Energy for compliance with the
Federal energy conservation standards.
''(7) Produced.--The term 'produced' includes manufactured.
''(8) 2001 energy conservation standard.--The term '2001
energy conservation standard' means the energy conservation
standards promulgated by the Department of Energy and effective
July 1, 2001.
''(e) Special Rules.--For purposes of this section--
''(1) In general.--Rules similar to the rules of
subsections (c), (d), and (e) of section 52 shall apply.
''(2) Controlled group.--
''(A) In general.--All persons treated as a single
employer under subsection (a) or (b) of section 52 or
subsection (m) or (o) of section 414 shall be treated
as a single producer.
''(B) Inclusion of foreign corporations.--For
purposes of subparagraph (A), in applying subsections
(a) and (b) of section 52 to this section, section 1563
shall be applied without regard to subsection (b)(2)(C)
thereof.
''(3) Verification.--No amount shall be allowed as a credit
under subsection (a) with respect to which the the taxpayer has
not submitted such information or certification as the
Secretary, in consultation with the Secretary of Energy,
determines necessary.''.
(b) Conforming Amendment.--Section 38(b) of the Internal Revenue
Code of 1986 (relating to general business credit) is amended by
striking ''plus'' at the end of paragraph (18), by striking the period
at the end of paragraph (19) and inserting '', plus'', and by adding at
the end the following new paragraph:
''(20) the energy efficient appliance credit determined
under section 45J(a).''.
(c) Clerical Amendment.--The table of sections for subpart D of
part IV of subchapter A of chapter 1 of the Internal Revenue Code of
1986 is amended by adding at the end the following new item:

''Sec. 45J. Energy efficient appliance credit.''.
(d) Effective Date.--The amendments made by this section shall
apply to appliances produced after December 31, 2004, in taxable years
ending after such date.
Resource Efficient Appliance Incentives Act of 2005 - Amends the Internal Revenue Code to allow a business tax credit for the production of certain household appliances (clothes washers, dishwashers, and refrigerators) with a specified energy efficiency rating. Imposes an aggregate limitation of $75 million on such credit for all taxable years ($35 million for certain other appliances), and an annual limitation based on taxpayer gross receipts (two percent of taxpayer average annual gross receipts for the three previous taxable years).