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SECTION 1. RENEWABLE ELECTRICITY INTEGRATION CREDIT.

(a) Business Credit.--
(1) In general.--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 section:

''SEC. 45S. RENEWABLE ELECTRICITY INTEGRATION CREDIT.

''(a) General Rule.--For purposes of section 38, in the case of an
eligible taxpayer, the renewable electricity integration credit for any
taxable year is an amount equal to the product of--
''(1) the intermittent renewable portfolio factor of such
eligible taxpayer, and
''(2) the number of kilowatt hours of renewable
electricity--
''(A) purchased or produced by such taxpayer, and
''(B) sold by such taxpayer to a retail customer
during the taxable year.
''(b) Intermittent Renewable Portfolio Factor.--
''(1) Years before 2017.--In the case of taxable years
beginning before January 1, 2017, the intermittent renewable
portfolio factor for an eligible taxpayer shall be determined
as follows:

----------------------------------------------------------------------------------------------------------------
''In the case of an eligible
taxpayer whose intermittent For taxable years beginning before For taxable years beginning in or
renewable electricity percentage 2012, the intermittent renewable after 2012, the intermittent
is: portfolio factor is: renewable portfolio factor is:
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Less than 4 percent............... zero cents zero cents
At least 4 percent but less than 8 0.1 cents zero cents
percent..........................
At least 8 percent but less than 0.2 cents 0.2 cents
12 percent.......................
At least 12 percent but less than 0.3 cents 0.3 cents
16 percent.......................
At least 16 percent but less than 0.4 cents 0.4 cents
20 percent.......................
At least 20 percent but less than 0.5 cents 0.5 cents
24 percent.......................
Equal to or greater than 24 0.6 cents 0.6 cents.
percent..........................
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''(2) Years after 2016.--In the case of taxable years
beginning after December 31, 2016, the intermittent renewable
portfolio factor for an eligible taxpayer shall be determined
as follows:

----------------------------------------------------------------------------------------------------------------
''In the case of an eligible
taxpayer whose intermittent For taxable years beginning before For taxable years beginning in or
renewable electricity percentage 2019, the intermittent renewable after 2019, the intermittent
is: portfolio factor is: renewable portfolio factor is:
----------------------------------------------------------------------------------------------------------------
Less than 10 percent.............. zero cents zero cents
At least 10 percent but less than 0.2 cents zero cents
12 percent.......................
At least 12 percent but less than 0.3 cents 0.15 cents
16 percent.......................
At least 16 percent but less than 0.4 cents 0.4 cents
20 percent.......................
At least 20 percent but less than 0.5 cents 0.5 cents
24 percent.......................
Equal to or greater than 24 0.6 cents 0.6 cents.
percent..........................
----------------------------------------------------------------------------------------------------------------

''(c) Definitions and Special Rules.--For purposes of this
section--
''(1) Eligible taxpayer.--The term 'eligible taxpayer'
means an electric utility (as defined in section 3(22) of the
Federal Power Act, 16 U.S.C. 796(22)).
''(2) Renewable electricity.--The term 'renewable
electricity' means electricity generated by--
''(A) any facility using wind to generate such
electricity,
''(B) any facility using solar energy to generate
such electricity, or
''(C) any facility using any other intermittent
renewable energy source which the Secretary of Energy
determines has a capacity factor of less than 50
percent on an annual basis.
''(3) Intermittent renewable electricity percentage.--The
term 'intermittent renewable electricity percentage' means the
percentage of an eligible taxpayer's total sales of electricity
to retail customers that is derived from renewable electricity
(determine without regard to whether such electricity was
produced by the taxpayer).
''(4) Application of other rules.--For purposes of this
section, rules similar to the rules of paragraphs (1), (3), and
(5) of section 45(e) shall apply.
''(5) Credit allowed only with respect to 1 eligible
entity.--No credit shall be allowed under subsection (a) with
respect to renewable electricity purchased from another
eligible entity if a credit has been allowed under this section
or a payment has been made under section 6433 to such other
eligible entity.
''(d) Credit Disallowed Unless Credit Passed to Third Party
Generators Charged for Integration Costs.--
''(1) In general.--In the case of renewable electricity
eligible for the credit under subsection (a) that is purchased
and not produced by an eligible taxpayer, no credit shall be
allowed unless any charge the taxpayer has assessed the seller
to recover the integration costs associated with such
electricity has been reduced (but not below zero) to the extent
of the credit received under subsection (a) associated with
such electricity.
''(2) Definitions.--For purposes of paragraph (1), charges
intended to recover integration costs do not include amounts
paid by the producer of the electricity for interconnection
facilities, distribution upgrades, network upgrades, or stand
alone network upgrades as those terms have been defined by the
Federal Energy Regulatory Commission in its Standard
Interconnection Procedures.
''(e) Coordination With Payments.--The amount of the credit
determined under this section with respect to any electricity shall be
reduced to take into account any payment provided with respect to such
electricity solely by reason of the application of section 6433.''.
(2) Credit made part of general business credit.--
Subsection (b) of section 38 of the Internal Revenue Code of
1986 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 renewable electricity integration credit
determined under section 45S(a).''.
(3) Specified credit.--Subparagraph (B) of section 38(c)(4)
of the Internal Revenue Code of 1986 is amended by
redesignating clauses (vii) through (ix) as clauses (viii)
through (x), respectively, and by inserting after clause (v)
the following new clause:
''(vi) the credit determined under section
45S.''.
(4) 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. 45S. Renewable electricity integration credit.''.
(b) Payments in Lieu of Credit.--
(1) In general.--Subchapter B of chapter 65 of the Internal
Revenue Code of 1986 is amended by adding at the end the
following new section:

''SEC. 6433. RENEWABLE ELECTRICITY INTEGRATION PAYMENTS.

''(a) In General.--If any eligible person sells renewable
electricity to a retail customer, the Secretary shall pay (without
interest) to any such person who elects to receive a payment an amount
equal to the product of--
''(1) the intermittent renewable portfolio factor of such
eligible person, and
''(2) the number of kilowatt hours of renewable
electricity--
''(A) purchased or produced by such person, and
''(B) sold by such person in the trade or business
of such person to a retail customer.
''(b) Timing of Payments.--
''(1) In general.--Except as provided in paragraph (2),
rules similar to the rules of section 6427(i)(1) shall apply
for purposes of this section.
''(2) Quarterly payments.--
''(A) In general.--If, at the close of any quarter
of the taxable year of any person, at least $750 is
payable in the aggregate under subsection (a), to such
person with respect to electricity purchased or
produced during--
''(i) such quarter, or
''(ii) any prior quarter (for which no
other claim has been filed) during such taxable
year,
a claim may be filed under this section with respect to
such electricity.
''(B) Time for filing claim.--No claim filed under
this paragraph shall be allowed unless filed on or
before the last day of the first quarter following the
earliest quarter included in the claim.
''(c) Definitions and Special Rules.--For purposes of this
section--
''(1) Eligible person.--The term 'eligible person' means an
electric utility (as defined in section 3(22) of the Federal
Power Act, 16 U.S.C. 796(22)).
''(2) Other definitions.--Any term used in this section
which is also used in section 45S shall have the meaning given
such term under section 45S.
''(3) Application of other rules.--For purposes of this
section, rules similar to the rules of paragraphs (1) and (3)
of section 45(e) shall apply.
''(d) Payment Disallowed Unless Amount Passed to Third Party
Generators Charged for Integration Costs.--
''(1) In general.--In the case of renewable electricity
eligible for the payment under subsection (a) that is purchased
and not produced by an eligible person, no payment shall be
made under this section unless any charge the eligible person
has assessed the seller to recover the integration costs
associated with such electricity has been reduced (but not
below zero) to the extent of the payment received under
subsection (a) associated with such electricity.
''(2) Definitions.--For purposes of paragraph (1), charges
intended to recover integration costs do not include amounts
paid by the producer of the electricity for interconnection
facilities, distribution upgrades, network upgrades, or stand
alone network upgrades as those terms have been defined by the
Federal Energy Regulatory Commission in its Standard
Interconnection Procedures.''.
(2) Clerical amendment.--The table of sections for subpart
B of chapter 65 of the Internal Revenue Code of 1986 is amended
by adding at the end the following new item:

''Sec. 6433. Renewable electricity integration payments.''.
(c) Effective Date.--The amendments made by this section shall
apply to electricity produced or purchased after December 31, 2009.
Output:
Amends the Internal Revenue Code to allow an electric utility: (1) a renewable electricity integration tax credit for the purchase or production of renewable power, or (2) a payment in lieu of such credit for sales of renewable electricity to retail customers.