113 HR 4426 IH: Clean Energy Victory Bond Act of 2014
U.S. House of Representatives
2014-04-08
text/xml
EN
Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain.
1.Short title; table of contents
(a)This Act may be cited as the Clean Energy Victory Bond Act of 2014
.
(b)The table of contents for this Act is as follows:
Sec. 1. Short title; table of contents.
Sec. 2. Findings.
Title I—Clean Energy Victory Bonds
Sec. 101. Clean Energy Victory Bonds.
Title II—Revenue provisions
Sec. 201. Extension and modification of energy investment tax credit.
Sec. 202. Extension of residential energy efficient property credit.
Sec. 203. Extension and modification of credit for electricity produced from certain renewable
resources.
Sec. 204. Extension of credit for nonbusiness energy property.
Sec. 205. Performance based home energy improvements.
Sec. 206. Extension of new energy efficient home credit.
Sec. 207. Extension and modification of energy efficient commercial buildings deduction.
Sec. 208. Plug-in electric vehicle grants in lieu of tax credits.
2.Congress finds the following:
(1)There is enormous potential for increasing renewable energy production and energy efficiency
installation in the United States.
(2)A major barrier to rapid expansion of renewable energy and energy efficiency is upfront capital
costs. Government tax incentives and other assistance programs have proven
beneficial in encouraging private sector development, manufacturing and
installation of renewable energy and energy efficiency projects
nationwide. However, these government incentives are not currently meeting
demand from the private sector, and we are not taking full advantage of
the potential for clean energy and transportation, as well as energy
efficiency in the United States.
(3)Other nations, including China and Germany are ahead of the United States in manufacturing and
deploying various clean energy technologies, even though the United States
invented many of these technologies.
(4)Investments in renewable energy and energy efficiency projects in the United States create green
jobs for U.S. citizens across the United States. Hundreds of thousands of
jobs could be created through expanded government support for clean energy
and energy efficiency.
(5)As Americans choose energy efficiency and clean energy and transportation, it reduces our
dependence on foreign oil and improves our energy security.
(6)Bonds are a low-cost method for encouraging clean energy, not requiring direct budget allocations
or expenditures. The projects supported through Clean Energy Victory Bonds
will create jobs and business revenues that will increase Federal tax
revenues, while simultaneously reducing health and environmental costs
incurred by the Federal Government nationwide.
(7)In World War II, over 80 percent of American households purchased Victory Bonds to support the war
effort, raising over $185 billion, or over $2 trillion in today’s dollars.
<enum>I</enum><header>Clean Energy Victory Bonds</header>
<section id="H0A879C1450E64165ABA6101B988267E4"><enum>101.</enum><header>Clean Energy Victory Bonds</header>
<subsection id="H5DEA799FEBF044EFA2EACF9B5BEC19D8"><enum>(a)</enum><header>Initial capitalization</header><text>The Secretary of the Treasury shall issue Clean Energy Victory Bonds in an amount not to exceed
$7,500,000,000 on the credit of the United States for purposes of raising
revenue for the extension of certain energy-related tax benefits extended
by this Act.</text>
</subsection><subsection id="H89EA19C3C5924AEEB7DE491C544F9294"><enum>(b)</enum><header>Denominations and maturity</header><text display-inline="yes-display-inline">Clean Energy Victory Bonds shall be in the form of United States Savings Bonds of Series EE or as
administered by the Bureau of the Public Debt of the Department of the
Treasury in denominations of $25, and shall mature within such periods as
determined by the Secretary of the Treasury.</text>
</subsection><subsection id="HB31DCAFF708E447D9CE360596FC7224A"><enum>(c)</enum><header>Interest</header><text display-inline="yes-display-inline">Clean Energy Victory Bonds shall bear interest at the rate the Secretary of the Treasury sets for
Savings Bonds of Series EE and Series I, plus a rate of return determined
by the Secretary of the Treasury which is based on the valuation of carbon
mitigated or energy saved through funded projects funded from the proceeds
of such bonds.</text>
</subsection><subsection id="H44AB5AC352BD462AB72667BFCBCD4A47"><enum>(d)</enum><header>Promotion</header>
<paragraph id="H688F5F4CFBFC4F569DFCE8A2D6A1C46C"><enum>(1)</enum><header>In general</header><text>The Secretary of the Treasury shall take such actions, independently and in conjunction with
financial institutions offering Clean Energy Victory Bonds, to promote the
purchase of Clean Energy Victory Bonds, including campaigns describing the
financial and social benefits of purchasing Clean Energy Victory Bonds.</text>
</paragraph><paragraph id="H4E26899DE66E4EB1B677133836373456"><enum>(2)</enum><header>Promotional activities</header><text>Such promotional activities may include advertisements, pamphlets, or other promotional materials—</text>
<subparagraph id="HC88DA5B8D29445E29A912299E936B10C"><enum>(A)</enum><text>in periodicals;</text>
</subparagraph><subparagraph id="H7F66FABAF3464C37B7FC9892A1C65742"><enum>(B)</enum><text>on billboards and other outdoor venues;</text>
</subparagraph><subparagraph id="H01CD7ABF6CDD4C18B254CAB70A5468E0"><enum>(C)</enum><text>on television;</text>
</subparagraph><subparagraph id="HC4BE8A3BEC674E6D8F00875F71692634"><enum>(D)</enum><text>on radio;</text>
</subparagraph><subparagraph id="HBB98B9BB67E4401C8E6C3583AA039DEC"><enum>(E)</enum><text>on the Internet;</text>
</subparagraph><subparagraph id="H083CA1A65937413B85B5D2F011BC6CDF"><enum>(F)</enum><text>within financial institutions that offer Clean Energy Victory Bonds; or</text>
</subparagraph><subparagraph id="HF0249AAFD72D420F8421D9769354C9A5"><enum>(G)</enum><text>any other venues or outlets the Secretary of the Treasury may identify.</text>
</subparagraph></paragraph><paragraph id="H45319693281B45748127C83BCFA43937"><enum>(3)</enum><header>Limitation</header><text>There are authorized to be appropriated for such promotional activities not more than—</text>
<subparagraph id="HFD86C3DB47384C09BB7A62CE4E9776A4"><enum>(A)</enum><text>$10,000,000 in the first year after the date of the enactment of this Act, and</text>
</subparagraph><subparagraph id="H905C26EAB3ED4A5C8AC8D840604366B4"><enum>(B)</enum><text>$2,000,000 in each year thereafter.</text>
</subparagraph></paragraph></subsection><subsection id="HB7866170C29F4CE1B111AD7FE05D634C"><enum>(e)</enum><header>Future capitalization</header>
<paragraph id="HD88CD11D92D84563AE6FF7FD47992382"><enum>(1)</enum><header>In general</header><text>After the initial capitalization limit is reached under subsection (a), the Secretary of the
Treasury may issue additional Clean Energy Victory Bonds on the credit of
the United States.</text>
</paragraph><paragraph id="HEA8AFEB0F7BB4539B9CA8B7E8F250A0A"><enum>(2)</enum><header>Single issue limitation</header><text>No such additional issue may exceed $7,500,000,000.</text>
</paragraph><paragraph id="H7A6EFFAF767B4223978379CFA8ADFB7B"><enum>(3)</enum><header>Aggregate limitations</header><text>The aggregate of any such additional issues during the 4-year period beginning on the day after the
initial capitalization limit is reached under subsection (a) may not
exceed $50,000,000,000. The aggregate of any such additional issues after
the expiration of such 4-year period may not exceed $50,000,000,000.</text>
</paragraph></subsection><subsection id="H11BD18B8432043E4BFD947F603CD5B7E"><enum>(f)</enum><header>Lawful investments</header><text>Clean Energy Victory Bonds shall be lawful investments, and may be accepted as security for all
fiduciary, trust, and public funds, the investment or deposit of which
shall be under the authority or control of the United States or any
officer or officers thereof.</text>
</subsection></section><enum>II</enum><header>Revenue provisions</header>
<section id="H036EF0FC47024E0BB963329E33F28C56"><enum>201.</enum><header>Extension and modification of energy investment tax credit</header>
<subsection id="H7ABB3F1AB3B74744A268048D7E0087D7"><enum>(a)</enum><header>Extension</header>
<paragraph id="H7A861DC7F0DE4E1D963DB770B6BBD8CC"><enum>(1)</enum><header>Solar energy</header><text>Paragraphs (2)(A)(i)(II) and (3)(A)(ii) of <external-xref legal-doc="usc" parsable-cite="usc/26/48">section 48(a)</external-xref> of the Internal Revenue Code of 1986 are
each amended by striking <quote>January 1, 2017</quote> and inserting <quote>January 1, 2023</quote>.</text>
</paragraph><paragraph id="H005DF4F755804F6A8B4EFEFA02A8A1D7"><enum>(2)</enum><header>Geothermal heat pumps</header><text>Clause (vii) of section 48(a)(3)(A) of such Code is amended by striking <quote>January 1, 2017</quote> and inserting <quote>January 1, 2023</quote>.</text>
</paragraph><paragraph id="HBB0BDB861B544FCC819747BCEDA1CACC"><enum>(3)</enum><header>Fuel cell property</header><text>Subparagraph (D) of section 48(c)(1) of such Code is amended by striking <quote>December 31, 2016</quote> and inserting <quote>December 31, 2022</quote>.</text>
</paragraph><paragraph id="HAB9B21FCA2F547A795844F47CD32E8DA"><enum>(4)</enum><header>Microturbine property</header><text>Subparagraph (D) of section 48(c)(2) of such Code is amended by striking <quote>December 31, 2016</quote> and inserting <quote>December 31, 2022</quote>.</text>
</paragraph><paragraph id="H37DCB7B70148436D98C4B028A55FD1DC"><enum>(5)</enum><header>Combined heat and power</header><text>Clause (iv) of section 48(c)(3) of such Code is amended by striking <quote>January 1, 2017</quote> and inserting <quote>January 1, 2023</quote>.</text>
</paragraph><paragraph id="H487FC4097C844AAD8659ACC38F33D40D"><enum>(6)</enum><header>Small wind</header><text>Subparagraph (C) of section 48(c)(4) of such Code is amended by striking <quote>December 31, 2016</quote> and inserting <quote>December 31, 2022</quote>.</text>
</paragraph><paragraph id="H55F2CBF94272407EA4B796FAFD55937C"><enum>(7)</enum><header>Offshore wind</header>
<subparagraph id="H878E3569E0964ED1B2D8A1A600C1E4DB"><enum>(A)</enum><header>In general</header><text>Clause (ii) of section 48(a)(5)(C) of such Code is amended—</text>
<clause id="H3F8A5184DA294EFBB1C2A3CD1046DFA1"><enum>(i)</enum><text>by striking <quote>is placed in service in</quote> and inserting the following:</text>
<quoted-block display-inline="yes-display-inline" id="H03917CE6E9AF46D78DEB56B0B37282F8" style="OLC"><text>is—</text><subclause id="H8925DBB122B54182B4B08B5880D8C761"><enum>(I)</enum><text display-inline="yes-display-inline">except as provided in subclause (II), placed in service in</text></subclause><after-quoted-block>,</after-quoted-block></quoted-block>
</clause><clause id="HD4CF6A2E18FB4AD2AFA897D213E6AE85"><enum>(ii)</enum><text>by adding at the end the following new subclause:</text>
<quoted-block display-inline="no-display-inline" id="HE404972C451349629E840632834A93BE" style="OLC">
<subclause id="H1852396B734347AD91163AA5DB558EA0"><enum>(II)</enum><text display-inline="yes-display-inline">in the case of an offshore wind facility, placed in service after December 31, 2008, and before
January 1, 2021, and</text></subclause><after-quoted-block>.</after-quoted-block></quoted-block>
</clause></subparagraph><subparagraph id="H0D268D2A7FA24AAA9CD2A8AFEF6596DC"><enum>(B)</enum><header>Offshore wind facility</header><text>Paragraph (5) of section 48(a) of such Code is amended by adding at the end the following new
subparagraph:</text>
<quoted-block display-inline="no-display-inline" id="HE8E2E3BC3B7C43F9B6D3E8DFB2864740" style="OLC">
<subparagraph id="H15A32453E31345758CBBC536510B0102"><enum>(E)</enum><header>Offshore wind facility</header><text display-inline="yes-display-inline">The term <term>offshore wind facility</term> means any qualified facility described in section 45(d)(1) and located in the inland navigable
waters of the United States, including the Great Lakes, or in the coastal
waters of the United States, including the territorial seas of the United
States, the exclusive economic zone of the United States, and the outer
Continental Shelf of the United States.</text></subparagraph><after-quoted-block>.</after-quoted-block></quoted-block>
</subparagraph></paragraph></subsection><subsection id="HC68246B9BB854230A2C768150197F1EC"><enum>(b)</enum><header>Modification of fuel cell property</header><text display-inline="yes-display-inline">Paragraph (1) of section 48(c) of such Code, as amended by this Act, is amended by redesignating
subparagraph (D) as subparagraph (E) and by inserting after subparagraph
(C) the following new subparagraph:</text>
<quoted-block display-inline="no-display-inline" id="HF657811E06E2494B853EC501EDAAC324" style="OLC">
<subparagraph id="HD34E11488F594FFBA6DAD8F1AC22D275"><enum>(D)</enum><header>Exception for fuel derived from fossil fuels</header><text display-inline="yes-display-inline">The term <term>qualified fuel cell powerplant</term> shall not include any fuel cell powerplant the fuel of which is derived from, or is produced by
using, any fossil fuel.</text></subparagraph><after-quoted-block>.</after-quoted-block></quoted-block>
</subsection><subsection id="H821BF2C091DB4DD5BFC5925FFDE19D39"><enum>(c)</enum><header>Effective date</header><text>The amendments made by this section shall take effect on the date of the enactment of this Act.</text>
</subsection></section><section id="H1AE836F73B754EF4917450CECEBCCD78"><enum>202.</enum><header>Extension of residential energy efficient property credit</header>
<subsection id="HB09AA5D8E83A45F18087B12BCC7EC66D"><enum>(a)</enum><header>In general</header><text display-inline="yes-display-inline">Subsection (g) of <external-xref legal-doc="usc" parsable-cite="usc/26/25D">section 25D</external-xref> of the Internal Revenue Code of 1986 is amended by striking <quote>December 31, 2016</quote> and inserting <quote>December 31, 2023</quote>.</text>
</subsection><subsection id="H523C6B63C4174F908B84C8DD715F12CB"><enum>(b)</enum><header>Effective date</header><text>The amendment made by this section shall apply to taxable years beginning after December 31, 2016.</text>
</subsection></section><section id="H4C0A74C3A90B493990EF45A449FB303B"><enum>203.</enum><header>Extension and modification of credit for electricity produced from certain renewable resources</header>
<subsection id="H6A71B0F29BAB4ADB9D7D4FE40AD38E7C"><enum>(a)</enum><header>Extension</header><text display-inline="yes-display-inline">Subsection (d) of <external-xref legal-doc="usc" parsable-cite="usc/26/45">section 45</external-xref> of the Internal Revenue Code of 1986 is amended—</text>
<paragraph id="H5CBF810E43684D7C924802589F7344D9"><enum>(1)</enum><text>by striking <quote>January 1, 2013</quote> in paragraph (1) and inserting <quote>January 1, 2023</quote>,</text>
</paragraph><paragraph id="H01EF221D247A405782A971D97C941E8D"><enum>(2)</enum><text>by striking <quote>January 1, 2014</quote> each place it appears in paragraphs (2), (3), (4), (9), and (11) and inserting <quote>January 1, 2023</quote>, and</text>
</paragraph><paragraph id="HD5C06A854E0E4757B22AA92101FEB20D"><enum>(3)</enum><text>by striking <quote>January 1, 2006</quote> in paragraph (4) and inserting <quote>January 1, 2023</quote>.</text>
</paragraph></subsection><subsection id="H0CDCDE6CA4AB401084112287ADB2F93C"><enum>(b)</enum><header>Modifications with respect to closed-Loop biomass</header>
<paragraph id="H978AF537A9C945BDAE66B60D997EA071"><enum>(1)</enum><header>In general</header><text>Paragraph (2) of section 45(c) of such Code is amended to read as follows:</text>
<quoted-block display-inline="no-display-inline" id="HCA59D034667943D5B78BF0494DDE2588" style="OLC">
<paragraph id="HD9C9853B0DBE4CE7B9108D54C7BEC8A2"><enum>(2)</enum><header>Closed-Loop biomass</header>
<subparagraph id="H218476BC2AD64A47A3D8A05B94809F98"><enum>(A)</enum><header>In general</header><text display-inline="yes-display-inline">The term <quote>closed-loop biomass</quote> means any organic matter from a plant which—</text>
<clause id="H3E8175FA83084782B4E2366DA25CDCD4"><enum>(i)</enum><text>is planted exclusively for purposes of being used at a qualified facility to produce electricity,
or</text>
</clause><clause id="H5F48A1D6478B4B938906B94B591F32C2"><enum>(ii)</enum><text>is a byproduct from harvesting timber (including tops, branches, crooks) or is invasive woody
vegetation that interferes with regeneration or the natural growth of the
forest from which timber is harvested.</text>
</clause></subparagraph><subparagraph id="HF74BD5FCC6CB443BA4060EE40BAC8AAD"><enum>(B)</enum><header>Limitation</header><text>For purposes of subparagraph (A)(ii), byproduct from harvesting timber shall not be treated as
closed-loop biomass unless—</text>
<clause id="H3D6AC56D67A14259991622701A06307D"><enum>(i)</enum><text>such byproduct does not exceed 30 percent (by weight) of the harvested timber to which it relates,
and</text>
</clause><clause id="H5964AB5AE0F14843A3AAA456D6ADA9E7"><enum>(ii)</enum><text>the percentage byproduct removed (by weight) does not exceed—</text>
<subclause id="H56F94AA60E6242C7995155A4375059AE"><enum>(I)</enum><text>25 percent in the case of timber harvested from good soil, and</text>
</subclause><subclause id="H1F6A0E304AFE4867831D9908B29E54AB"><enum>(II)</enum><text>0 percent in the case of timber harvested from poor soil.</text></subclause></clause><continuation-text continuation-text-level="subparagraph">For purposes of the preceding sentence, soil quality shall be determined by reference to soil
classifications by the Natural Resources Conservation Service.</continuation-text></subparagraph></paragraph><after-quoted-block>.</after-quoted-block></quoted-block>
</paragraph><paragraph id="HADB163DED59F45C6A3AA05FA685CACDA"><enum>(2)</enum><header>Qualified facility</header><text>Paragraph (2) of section 45(d) of such Code is amended by adding at the end the following new
subparagraph:</text>
<quoted-block display-inline="no-display-inline" id="H85E7CABCCCE2443A8F004C03C43D8BAC" style="OLC">
<subparagraph id="HA83DB993F0804767AC09CDC557949F9B"><enum>(D)</enum><header>Greenhouse gas emissions</header><text display-inline="yes-display-inline">In the case of a facility placed in service after December 31, 2014, such term shall not include
any facility unless, with respect to the facility, the taxpayer annually
during the 10-year period described in subsection (a) demonstrates to the
satisfaction of the Secretary that such facility’s use of closed-loop
biomass will result in a 50-percent reduction in greenhouse gas emissions
compared to a similar facility using natural gas combined-cycle
generation.</text></subparagraph><after-quoted-block>.</after-quoted-block></quoted-block>
</paragraph></subsection><subsection id="HE181A8049ACF4716B1A4C9222BDF0C59"><enum>(c)</enum><header>Modification of open-Loop biomass definition</header><text>The second sentence of subparagraph (A) of section 45(c)(3) of such Code is amended—</text>
<paragraph id="HB6F18A3348AE437495F82777D59CBA80"><enum>(1)</enum><text>by striking <quote>or biomass</quote> and inserting <quote>, biomass</quote>, and</text>
</paragraph><paragraph id="H05174B6A3F5948619F43A80CEA7161F0"><enum>(2)</enum><text>by inserting before the period at the end the following: <quote>, any biomass which is primarily a food crop, or biomass derived from any crop that displaces any
forest existing on the date of the enactment of the <short-title>Clean Energy Victory Bond Act of 2014</short-title></quote>.</text>
</paragraph></subsection><subsection commented="no" id="H17AE5E862F4F4BD0A54C75315BB54423"><enum>(d)</enum><header>Modification of biofuel as qualified energy resource</header>
<paragraph commented="no" id="HB9B4801E4AD14246B50353A803976B08"><enum>(1)</enum><header>In general</header><text display-inline="yes-display-inline">Paragraph (1) of section 45(c) of such Code is amended by striking <quote>and</quote> at the end of subparagraph (H), by striking the period at the end of subparagraph (I) and
inserting <quote>, and</quote>, and by adding at the end the following new subparagraph:</text>
<quoted-block display-inline="no-display-inline" id="H9F7E8E3F21894798A56D4BC8D3DD1E99" style="OLC">
<subparagraph commented="no" id="HEB4A9AD897B647E1A9D1718B6D654E57"><enum>(J)</enum><text display-inline="yes-display-inline">second generation biomass.</text></subparagraph><after-quoted-block>.</after-quoted-block></quoted-block>
</paragraph><paragraph commented="no" id="HB1E6B17894954EB780A4F5176970C10B"><enum>(2)</enum><header>Second generation biomass defined</header><text>Subsection (c) of section 45 of such Code is amended by adding at the end the following new
paragraph:</text>
<quoted-block display-inline="no-display-inline" id="HFF810D858133411BA35EA47133A686F8" style="OLC">
<paragraph commented="no" id="HFC32BA29B53E4E07AFFF739087CDB775"><enum>(11)</enum><header>Second generation biomass</header><text display-inline="yes-display-inline">The term <term>second generation biomass</term> means any biomass which is composed of lignocellulosic or hemicellulosic matter that is available
on a renewable or recurring basis and that does not replace forested land
(other than any fuel described in section 40(b)(6)(E)(iii)).</text></paragraph><after-quoted-block>.</after-quoted-block></quoted-block>
</paragraph><paragraph commented="no" id="H18390B54EED44550B3F71C96CDE2CF61"><enum>(3)</enum><header>Qualified facility</header><text>Subsection (d) of section 45 of such Code is amended by adding at the end the following new
paragraph:</text>
<quoted-block display-inline="no-display-inline" id="HF7EE240DBD9440A382E46894A97C1307" style="OLC">
<paragraph commented="no" id="HA6583B5A424C40FA9DEC6CED40F768CE"><enum>(12)</enum><header>Second generation biomass</header><text display-inline="yes-display-inline">In the case of a facility producing electricity from second generation biomass, the term <term>qualified facility</term> means any facility owned by the taxpayer which is originally placed in service on or after the
date of the enactment of this paragraph and before January 1, 2023.</text></paragraph><after-quoted-block>.</after-quoted-block></quoted-block>
</paragraph><paragraph commented="no" id="HB7704FE2EBE344FFA17CA1875D618099"><enum>(4)</enum><header>Conforming amendments</header>
<subparagraph commented="no" id="H5B5C1FF9F5454145A6A8040253C88A6A"><enum>(A)</enum><text>Subsection (d) of section 45 of such Code is amended by striking <quote>January 1, 2014</quote> each place it appears in paragraphs (2)(A)(i), (3), (6), and (7) and inserting <quote>the date of the enactment of the <short-title>Clean Energy Victory Bond Act of 2014</short-title></quote>.</text>
</subparagraph><subparagraph commented="no" id="H72FCA5A8A6DF4972B25F30A11E084203"><enum>(B)</enum><text>Clause (ii) of section 45(d)(2)(A) of such Code is amended by striking <quote>January 1, 2014,</quote> and inserting <quote>the date of the enactment of the <short-title>Clean Energy Victory Bond Act of 2014</short-title></quote>.</text>
</subparagraph></paragraph></subsection><subsection id="H9B4AD0176C034F4DA9EE4FB3C2352584"><enum>(e)</enum><header>Effective date</header><text>The amendments made by this section shall apply to property placed in service after the date of the
enactment of this Act.</text>
</subsection></section><section id="HA3AD9074CA474B61A5D0F60501E86B7F"><enum>204.</enum><header>Extension of credit for nonbusiness energy property</header>
<subsection id="H05C5C279E8AB4B2CB3159BF7AEC06695"><enum>(a)</enum><header>In general</header><text display-inline="yes-display-inline">Paragraph (2) of <external-xref legal-doc="usc" parsable-cite="usc/26/25C">section 25C(g)</external-xref> of the Internal Revenue Code of 1986 is amended by striking <quote>December 31, 2013</quote> and inserting <quote>December 31, 2022</quote>.</text>
</subsection><subsection id="H976987FE253B4071A912EFF19BC71542"><enum>(b)</enum><header>Effective date</header><text>The amendment made by this section shall apply to property placed in service after December 31,
2013.</text>
</subsection></section><section commented="no" display-inline="no-display-inline" id="H9405C05B86C14D14B2D3882BC8696C10"><enum>205.</enum><header>Performance based home energy improvements</header>
<subsection commented="no" display-inline="no-display-inline" id="H38565D7107984349A311C58BAE82C876"><enum>(a)</enum><header>In general</header><text>Subpart A of part IV of subchapter A of chapter 1 is amended by adding at the end the following new
section:</text>
<quoted-block display-inline="no-display-inline" id="HD6FAD09E52474722A6920F2594FBBAF1" style="OLC">
<section id="H2FB8E07128694D7684D7E219CBC6FB1E"><enum>25E.</enum><header>Performance based energy improvements</header>
<subsection id="H274707EB60434B47B457B717F8520101"><enum>(a)</enum><header>In general</header><text>In the case of an individual, there shall be allowed as a credit against the tax imposed by this
chapter for the taxable year for a qualified whole home energy efficiency
retrofit an amount determined under subsection (b).</text>
</subsection><subsection id="HCA369E92D7BF4300A40E512FB1AFF67A"><enum>(b)</enum><header>Amount determined</header>
<paragraph id="HCBDF1CE9390E483DA5A2C67C0AE73E59"><enum>(1)</enum><header>In general</header><text>Subject to paragraph (4), the amount determined under this subsection is equal to—</text>
<subparagraph id="H24DD3EAC0C9F48D791E3A8CFA319854F"><enum>(A)</enum><text>the base amount under paragraph (2), increased by</text>
</subparagraph><subparagraph id="H42149ED891024964B65E7439794670FC"><enum>(B)</enum><text>the amount determined under paragraph (3).</text>
</subparagraph></paragraph><paragraph id="H2133A014F2954EB38EAE7F8BEB5E3D92"><enum>(2)</enum><header>Base amount</header><text>For purposes of paragraph (1)(A), the base amount is $2,000, but only if the energy use for the
residence is reduced by at least 20 percent below the baseline energy use
for such residence as calculated according to paragraph (5).</text>
</paragraph><paragraph id="H39C5EEB860CD4B4FAD4067466CD2BDE0"><enum>(3)</enum><header>Increase amount</header><text>For purposes of paragraph (1)(B), the amount determined under this paragraph is $500 for each
additional 5 percentage point reduction in energy use.</text>
</paragraph><paragraph id="HB7606472DA484D638F686E52F362C057"><enum>(4)</enum><header>Limitation</header><text>In no event shall the amount determined under this subsection exceed the lesser of—</text>
<subparagraph id="HAE14DF6E14C3445C8D71B7649F4C37D0"><enum>(A)</enum><text>$5,000 with respect to any residence, or</text>
</subparagraph><subparagraph id="H79DC8FAF4BE14F078A571171D0AEA85C"><enum>(B)</enum><text>30 percent of the qualified home energy efficiency expenditures paid or incurred by the taxpayer
under subsection (c) with respect to such residence.</text>
</subparagraph></paragraph><paragraph id="HC80586F322A54F5C9B1C34FCCB943E8B"><enum>(5)</enum><header>Determination of energy use reduction</header><text>For purposes of this subsection—</text>
<subparagraph id="HED152448983D4DAB972F6B0BD5A62A5C"><enum>(A)</enum><header>In general</header><text>The reduction in energy use for any residence shall be determined by modeling the annual predicted
percentage reduction in total energy costs for heating, cooling, hot
water, and permanent lighting. It shall be modeled using computer modeling
software approved under subsection (d)(2) and a baseline energy use
calculated according to subsection (d)(1)(C).</text>
</subparagraph><subparagraph commented="no" id="HB3535F3AA31049D59FF02F4D425EBAB1"><enum>(B)</enum><header>Energy costs</header><text>For purposes of subparagraph (A), the energy cost per unit of fuel for each fuel type shall be
determined by dividing the total actual energy bill for the residence for
that fuel type for the most recent available 12-month period by the total
energy units of that fuel type used over the same period.</text>
</subparagraph></paragraph></subsection><subsection id="HBC073114422849A4A3BC6B86C2CCA390"><enum>(c)</enum><header>Qualified home energy efficiency expenditures</header><text>For purposes of this section, the term <term>qualified home energy efficiency expenditures</term>—</text>
<paragraph id="H8979BB1808094961B3AC3A998D223736"><enum>(1)</enum><text>means any amount paid or incurred by the taxpayer during the taxable year for a qualified whole
home energy efficiency retrofit, including the cost of diagnostic
procedures, labor, and modeling,</text>
</paragraph><paragraph id="H74CC5E05A8B941C4B4183DEF8E4FCB1A"><enum>(2)</enum><text>includes only measures that have an average estimated life of 5 years or more as determined by the
Secretary, after consultation with the Secretary of Energy,</text>
</paragraph><paragraph id="H811155BAE201410FBE395EEAE90DC1A7"><enum>(3)</enum><text>does not include any amount which is paid or incurred in connection with any expansion of the
building envelope of the residence, and</text>
</paragraph><paragraph id="H301D9F1CCC6B4EE5801BA6FDC4D9D8B4"><enum>(4)</enum><text>does not include improvements to swimming pools or hot tubs or any other expenditure specifically
excluded by the Secretary, after consultation with the Secretary of
Energy.</text>
</paragraph></subsection><subsection id="HD2FE639E119946648A9DB78397405C29"><enum>(d)</enum><header>Qualified whole home energy efficiency retrofit</header><text>For purposes of this section—</text>
<paragraph id="H0961F3A942494160936743FC8537654B"><enum>(1)</enum><header>In general</header><text>The term <term>qualified whole home energy efficiency retrofit</term> means the implementation of measures placed in service during the taxable year intended to reduce
the energy use of the principal residence of the taxpayer which is located
in the United States. A qualified whole home energy efficiency retrofit
shall—</text>
<subparagraph id="H0C1A14A64184400AB782F315A2F0DA13"><enum>(A)</enum><text>be designed, implemented, and installed by a contractor which is—</text>
<clause id="H407538429EE946328CDA22220D0ECCBC"><enum>(i)</enum><text>accredited by the Building Performance Institute (hereafter in this section referred to as <quote>BPI</quote>) or a preexisting BPI accreditation-based State certification program with enhancements to achieve
State energy policy,</text>
</clause><clause id="HD72FF297611640918D8432689EFF5F08"><enum>(ii)</enum><text>a Residential Energy Services Network (hereafter in this section referred to as <quote>RESNET</quote>) accredited Energy Smart Home Performance Team, or</text>
</clause><clause id="H60927BBBC1674759B4C682089637D90B"><enum>(iii)</enum><text>accredited by an equivalent certification program approved by the Secretary, after consultation
with the Secretary of Energy, for this purpose,</text>
</clause></subparagraph><subparagraph id="HF337B6439B044C41B8CD2FE7F026CF3F"><enum>(B)</enum><text>install a set of measures modeled to achieve a reduction in energy use of at least 20 percent below
the baseline energy use established in subparagraph (C), using computer
modeling software approved under paragraph (2),</text>
</subparagraph><subparagraph id="HC598A95796FF49F7B6AC0C71246A2BB6"><enum>(C)</enum><text>establish the baseline energy use by calibrating the model using sections 3 and 4 and Annex D of
BPI Standard BPI–2400–S–2011: Standardized Qualification of Whole House
Energy Savings Estimates, or an equivalent standard approved by the
Secretary, after consultation with the Secretary of Energy, for this
purpose,</text>
</subparagraph><subparagraph id="H373FC844320345B2966BB81347CCC9DA"><enum>(D)</enum><text>document the measures implemented in the residence through photographs taken before and after the
retrofit, including photographs of its visible energy systems and envelope
as relevant, and</text>
</subparagraph><subparagraph id="HA431A0EFA09C49D2ACC71A4E0E416127"><enum>(E)</enum><text>implement a test-out procedure, following guidelines of the applicable certification program
specified under clause (i) or (ii) of subparagraph (A), or equivalent
guidelines approved by the Secretary, after consultation with the
Secretary of Energy, for this purpose, to ensure—</text>
<clause id="H667DDEADA14846A8859CDE62497B9AA1"><enum>(i)</enum><text>the safe operation of all systems post retrofit, and</text>
</clause><clause id="H5BAFE61D52A74B7BA5DA4B583D0C0EDA"><enum>(ii)</enum><text>that all improvements are included in, and have been installed according to, standards of the
applicable certification program specified under clause (i) or (ii) of
subparagraph (A), or equivalent standards approved by the Secretary, after
consultation with the Secretary of Energy, for this purpose.</text></clause><continuation-text continuation-text-level="subparagraph">For purposes of subparagraph (A)(iii), an organization or State may submit an equivalent
certification program for approval by the Secretary, in consultation with
the Secretary of Energy. The Secretary shall approve or deny such
submission not later than 180 days after receipt, and, if the Secretary
fails to respond in that time period, the submitted equivalent
certification program shall be considered approved.</continuation-text></subparagraph></paragraph><paragraph id="H9C624ED49AF6472FBA7822EE35544460"><enum>(2)</enum><header>Approved modeling software</header><text>For purposes of paragraph (1)(B), the contractor shall use modeling software certified by RESNET as
following the software verification test suites in section 4.2.1 of RESNET
Publication No. 06–001 or certified by an alternative organization as
following an equivalent standard, as approved by the Secretary, after
consultation with the Secretary of Energy, for this purpose.</text>
</paragraph><paragraph id="H8C5DCC156441431993ED198EABE8CC64"><enum>(3)</enum><header>Documentation</header><text>The Secretary, after consultation with the Secretary of Energy, shall prescribe regulations
directing what specific documentation is required to be retained or
submitted by the taxpayer in order to claim the credit under this section,
which shall include, in addition to the photographs under paragraph
(1)(D), a form approved by the Secretary that is completed and signed by
the qualified whole home energy efficiency retrofit contractor under
penalties of perjury. Such form shall include—</text>
<subparagraph id="HA50D5D4912A1433BB8AF5B8476E48E97"><enum>(A)</enum><text>a statement that the contractor followed the specified procedures for establishing baseline energy
use and estimating reduction in energy use,</text>
</subparagraph><subparagraph id="HCA046DF7A17048E2A4C6926BADEA753C"><enum>(B)</enum><text>the name of the software used for calculating the baseline energy use and reduction in energy use,
the percentage reduction in projected energy savings achieved, and a
statement that such software was certified for this program by the
Secretary, after consultation with the Secretary of Energy,</text>
</subparagraph><subparagraph id="HE5D6986178A74A5BBCA3B1A30424F077"><enum>(C)</enum><text>a statement that the contractor will retain the details of the calculations and underlying energy
bills for 5 years and will make such details available for inspection by
the Secretary or the Secretary of Energy, if so requested,</text>
</subparagraph><subparagraph id="H21F8CFBFB8844272A5E161CDB6D1C53B"><enum>(D)</enum><text>a list of measures installed and a statement that all measures included in the reduction in energy
use estimate are included in, and installed according to, standards of the
applicable certification program specified under clause (i) or (ii) of
subparagraph (A), or equivalent standards approved by the Secretary, after
consultation with the Secretary of Energy,</text>
</subparagraph><subparagraph id="H03B3C22503BF453FB9B7D9DAC2FC6854"><enum>(E)</enum><text>a statement that the contractor meets the requirements of paragraph (1)(A), and</text>
</subparagraph><subparagraph id="H8A17072CF5504C40963F5ABDC547BA99"><enum>(F)</enum><text>documentation of the total cost of the project in order to comply with the limitation under
subsection (b)(4)(B).</text>
</subparagraph></paragraph></subsection><subsection id="H7E2D135163804E1E8DFCBC68BB713E97"><enum>(e)</enum><header>Additional rules</header><text>For purposes of this section—</text>
<paragraph id="HB87DDBC7415847598101228D459ABDB7"><enum>(1)</enum><header>No double benefit</header>
<subparagraph id="HF9E1A45E4B2F4D209D8F06F7FA89EE27"><enum>(A)</enum><header>In general</header><text>With respect to any residence, no credit shall be allowed under this section for any taxable year
in which the taxpayer claims a credit under section 25C.</text>
</subparagraph><subparagraph id="H04508DD1594845D8A41226E21853874E"><enum>(B)</enum><header>Renewable energy systems and appliances</header><text>In the case of a renewable energy system or appliance that qualifies for another credit under this
chapter, the resulting reduction in energy use shall not be taken into
account in determining the percentage energy use reductions under
subsection (b).</text>
</subparagraph><subparagraph id="H255ABE63A9D2406A903A35F80DAB1720"><enum>(C)</enum><header>No double benefit for certain expenditures</header><text>The term <term>qualified home energy efficiency expenditures</term> shall not include any expenditure for which a deduction or credit is claimed by the taxpayer under
this chapter for the taxable year or with respect to which the taxpayer
receives any Federal energy efficiency rebate.</text>
</subparagraph></paragraph><paragraph id="H5D4DCBED903A4D90B31DB2C481BCD848"><enum>(2)</enum><header>Principal residence</header><text>The term <term>principal residence</term> has the same meaning as when used in section 121.</text>
</paragraph><paragraph id="H773439454E1945B3A57364F4FE73E170"><enum>(3)</enum><header>Special rules</header><text>Rules similar to the rules under paragraphs (4), (5), (6), (7), and (8) of section 25D(e) and
section 25C(e)(2) shall apply, as determined by the Secretary, after
consultation with the Secretary of Energy.</text>
</paragraph><paragraph id="HA151293F8CBC4FFCB3AAB3B7E7AFB541"><enum>(4)</enum><header>Basis adjustments</header><text>For purposes of this subtitle, if a credit is allowed under this section with respect to any
expenditure with respect to any property, the increase in the basis of
such property which would (but for this paragraph) result from such
expenditure shall be reduced by the amount of the credit so allowed.</text>
</paragraph><paragraph id="HA00AA3F4483E415291299275CE6D203B"><enum>(5)</enum><header>Election not to claim credit</header><text>No credit shall be determined under subsection (a) for the taxable year if the taxpayer elects not
to have subsection (a) apply to such taxable year.</text>
</paragraph><paragraph id="HD884AA4877534583BA93DA36C35BE1CD"><enum>(6)</enum><header>Multiple year retrofits</header><text>If the taxpayer has claimed a credit under this section in a previous taxable year, the baseline
energy use for the calculation of reduced energy use must be established
after the previous retrofit has been placed in service.</text>
</paragraph></subsection><subsection id="HACBCB77B9A654292AE5AB093E1FA001F"><enum>(f)</enum><header>Termination</header><text>This section shall not apply with respect to any costs paid or incurred after December 31, 2022.</text>
</subsection><subsection id="H2D8F08F23CD74C55BE8468F97F52D379"><enum>(g)</enum><header>Secretary review</header><text>The Secretary, after consultation with the Secretary of Energy, shall establish a review process
for the retrofits performed, including an estimate of the usage of the
credit and a statistically valid analysis of the average actual energy use
reductions, utilizing utility bill data collected on a voluntary basis,
and report to Congress not later than June 30, 2016, any findings and
recommendations for—</text>
<paragraph id="HFB1F700334AC4E829E4B07228B88E4CD"><enum>(1)</enum><text>improvements to the effectiveness of the credit under this section, and</text>
</paragraph><paragraph id="HA079E931FCA34579B96A04C195331F94"><enum>(2)</enum><text>expansion of the credit under this section to rental units.</text></paragraph></subsection></section><after-quoted-block>.</after-quoted-block></quoted-block>
</subsection><subsection id="H9E6544244A5D4EEF84B06983D0CD06BF"><enum>(b)</enum><header>Conforming amendments</header>
<paragraph id="H79990D1949444D098F6969DC6E76A030"><enum>(1)</enum><text>Section 1016(a) is amended—</text>
<subparagraph id="H2E1EA4050A0D4DB9870A588FBBF1C86D"><enum>(A)</enum><text>by striking <quote>and</quote> at the end of paragraph (36),</text>
</subparagraph><subparagraph id="HE0910A5F2FE14EB9BBE824CCD41E7B16"><enum>(B)</enum><text>by striking the period at the end of paragraph (37) and inserting <quote>, and</quote>, and</text>
</subparagraph><subparagraph id="HF1DCB37A843A40F1AF43267D6975EFAA"><enum>(C)</enum><text>by adding at the end the following new paragraph:</text>
<quoted-block display-inline="no-display-inline" id="HC4F00F1A33614908B806AC248D8FAA8C" style="OLC">
<paragraph id="H997AFD6D67284CFBB9A8B5C78334A66E"><enum>(38)</enum><text>to the extent provided in section 25E(e)(4), in the case of amounts with respect to which a credit
has been allowed under section 25E.</text></paragraph><after-quoted-block>.</after-quoted-block></quoted-block>
</subparagraph></paragraph><paragraph id="HEB467AFBFF304067AE4BDAF1447142F7"><enum>(2)</enum><text>Section 6501(m) is amended by inserting <quote>25E(e)(5),</quote> after <quote>section</quote>.</text>
</paragraph><paragraph id="H9DA86237C58B451A9D7563FAA0BCBE23"><enum>(3)</enum><text>The table of sections for subpart A of part IV of subchapter A chapter 1 is amended by inserting
after the item relating to section 25D the following new item:</text>
<quoted-block display-inline="no-display-inline" id="HCBCAA17B205C4006BE53BBA3A4848137" style="OLC">
<toc>
<toc-entry bold="off" level="section">Sec. 25E. Performance based energy improvements.</toc-entry></toc><after-quoted-block>.</after-quoted-block></quoted-block>
</paragraph></subsection><subsection id="HDB357E0E6F8F4D0B9FE5A426B95AE13F"><enum>(c)</enum><header>Effective date</header><text>The amendments made by this section shall apply to amounts paid or incurred for a qualified whole
home energy efficiency retrofit placed in service after December 31, 2013.</text>
</subsection></section><section id="HED0D4738510141DA857D499D38768E34"><enum>206.</enum><header>Extension of new energy efficient home credit</header>
<subsection id="H6768BB97132346AB9D6DF14175AE7FFB"><enum>(a)</enum><header>In general</header><text display-inline="yes-display-inline">Subsection (g) of <external-xref legal-doc="usc" parsable-cite="usc/26/45L">section 45L</external-xref> of the Internal Revenue Code of 1986 is amended by striking <quote>December 31, 2013</quote> and inserting <quote>December 31, 2022</quote>.</text>
</subsection><subsection id="H430B7A67408E41E088B0F233CDD2A3E9"><enum>(b)</enum><header>Effective date</header><text>The amendment made by this section shall apply to homes acquired after December 31, 2013.</text>
</subsection></section><section id="H1EF67FCF65204D6599BC759251FB9098"><enum>207.</enum><header>Extension and modification of energy efficient commercial buildings deduction</header>
<subsection id="H74D7A49728F54874A1CE789747A64C11"><enum>(a)</enum><header>In general</header><text display-inline="yes-display-inline">Subsection (h) of <external-xref legal-doc="usc" parsable-cite="usc/26/179D">section 179D</external-xref> of the Internal Revenue Code of 1986 is amended by striking <quote>December 31, 2013</quote> and inserting <quote>December 31, 2022</quote>.</text>
</subsection><subsection id="HE76A624C748C41E78053136D2A04807C"><enum>(b)</enum><header>Increase in deduction limitations</header>
<paragraph id="H73E8685B9B8A415AACF5366DA53DC3A3"><enum>(1)</enum><header>In general</header><text display-inline="yes-display-inline">Subparagraph (A) of section 179D(b)(1) of such Code is amended by striking <quote>$1.80</quote> and inserting <quote>$3.00</quote>.</text>
</paragraph><paragraph id="HBA37ADECFD104214AE054FDE8BDC8391"><enum>(2)</enum><header>Partial pay</header><text>Subparagraph (A) of section 179D(d)(1) is amended by striking <quote>substituting <quote>$.60</quote> for <quote>$1.80</quote>.</quote> and inserting <quote>substituting <quote>$1.00</quote> for <quote>$3.00</quote>.</quote>.</text>
</paragraph><paragraph id="H2AE782A44176491CA56B6C845418E2F1"><enum>(3)</enum><header>Reduced amount for lower efficiency property</header><text>Subsection (d) of section 179D of such Code is amended by adding at the end the following new
paragraph:</text>
<quoted-block display-inline="no-display-inline" id="H4F2DCEE9D1EF49888153EA9EC480AAFA" style="OLC">
<paragraph id="H248C440C946C4F69B2350395165C9AB1"><enum>(1)</enum><header>30 to 50 percent property</header><text display-inline="yes-display-inline">In the case of property which would be energy efficient commercial building property were
subsection (c)(1)(D) applied by substituting <quote>more than 30 percent and less than 50 percent</quote> for <quote>50 percent or more</quote>, subsection (b) shall be applied to such property by substituting <quote>$1.80</quote> for <quote>$3.00</quote>.</text></paragraph><after-quoted-block>.</after-quoted-block></quoted-block>
</paragraph></subsection><subsection id="H7253DA299757474F897BC90A422DD1F8"><enum>(c)</enum><header>Updating partial allowance regulations</header><text>Subparagraph (B) of section 179D(d)(1) of such Code is amended by adding at the end the following: <quote>Not later than 1 year after the date of the enactment of the <short-title>Clean Energy Victory Bond Act of 2014</short-title>, and every three years thereafter, the Secretary shall, after consultation with the Secretary of
Energy, update the targets for such systems in such a manner as the
Secretary determines will encourage innovation in commercial building
energy efficiency.</quote>.</text>
</subsection><subsection id="HDBB3E45C8A1D4E6D8AF6139C7CADE11D"><enum>(d)</enum><header>Effective date</header><text>The amendment made by this section shall apply to property placed in service after December 31,
2013.</text>
</subsection></section><section id="H65171522D06349B8B2DA1792A152DD94"><enum>208.</enum><header>Plug-in electric vehicle grants in lieu of tax credits</header>
<subsection id="H4DA1B38549EE440596068C4A61E22AF7"><enum>(a)</enum><header>In general</header><text>The Secretary of Energy, in consultation with the Secretary of the Treasury, shall establish a
voluntary program through which the Secretary of Energy shall—</text>
<paragraph id="HFFF93AFF45434CBEA8AE8441AE55DC48"><enum>(1)</enum><text>authorize the issuance of an electronic voucher to offset the purchase price of a qualified plug-in
electric vehicle or a new qualified plug-in electric drive motor vehicle
purchased from a dealer participating in the program;</text>
</paragraph><paragraph id="H92EAA88F13944755B7FF13A44EC5FD24"><enum>(2)</enum><text>register dealers for participation in the program and require that all dealers so registered accept
such vouchers as partial payment or down payment for the purchase of any
such vehicle offered for sale by such dealer;</text>
</paragraph><paragraph id="H17742A4C1E01426FB112AAC1B1A91709"><enum>(3)</enum><text>make electronic payments to dealers for eligible transactions by such dealers; and</text>
</paragraph><paragraph id="HCC79F1A54D6C4DB181683C29EE23AE8F"><enum>(4)</enum><text>in consultation with the Inspector General of the Department of Transportation establish and
provide for the enforcement of measures to prevent and penalize fraud
under the program.</text>
</paragraph></subsection><subsection id="H9DE90AC7FA5745FDB376801FA1BBD9DD"><enum>(b)</enum><header>Voucher limitations</header><text>A voucher issued under the program shall have a value that may be applied to offset the purchase
price of a vehicle by—</text>
<paragraph id="H2266074533784DE6838C0F4B3E125BBC"><enum>(1)</enum><text>in the case of a qualified plug-in electric vehicle, $2,500; or</text>
</paragraph><paragraph id="HC7A8CE1A317C46E984CE322EE1055F45"><enum>(2)</enum><text>in the case of a new qualified plug-in electric drive motor vehicle, $2,500 plus an amount
determined with respect to the vehicle under section 30D(b)(3) of the
Internal Revenue Code of 1986.</text>
</paragraph></subsection><subsection id="HC6C351351FCB4E40ABD20BF1876FF9B8"><enum>(c)</enum><header>Treated as advance payment of credit</header><text>Use of a voucher under the program to offset the purchase price of a vehicle shall, for purposes of
the Internal Revenue Code of 1986, be treated as advance payment of the
credit allowed under section 30 or 30D of such Code, as the case may be,
and the amount of credit which would (but for this paragraph) be allowable
with respect to such vehicle under either such section shall be reduced
(but not below zero) by the amount of the voucher so used.</text>
</subsection><subsection id="H7E12649328B1469ABA0CC8E59CEFF3EB"><enum>(d)</enum><header>Definitions and special rules</header><text>For purposes of this section—</text>
<paragraph id="HD8E89CAEB60F4CC89E1AD029E92A8DA5"><enum>(1)</enum><header>Qualified plug-in electric vehicle</header><text>The term <quote>qualified plug-in electric vehicle</quote> shall have the meaning given such term by <external-xref legal-doc="usc" parsable-cite="usc/26/30">section 30(d)</external-xref> of the Internal Revenue Code of 1986.</text>
</paragraph><paragraph id="HF6E1DA295DEC4054B64568F48AA5CE89"><enum>(2)</enum><header>New qualified plug-in electric drive motor vehicle</header><text>The term <quote>new qualified plug-in electric drive motor vehicle</quote> shall have the meaning given such term by section 30D(d) of such Code.</text>
</paragraph><paragraph id="H3A7B33718A314F6CA4FECE69C2B2C6D0"><enum>(3)</enum><header>No combination of vouchers</header><text>Only 1 voucher issued under the program may be applied toward the purchase of a single vehicle.</text>
</paragraph><paragraph id="H37A8F2DFBD39449390D5F5326C98DA8F"><enum>(4)</enum><header>Combination with other incentives permitted</header><text>The availability or use of a Federal, State, or local incentive or a State-issued voucher for the
purchase of any vehicle shall not limit the value or issuance of a voucher
under the program to any person otherwise eligible to receive such a
voucher.</text>
</paragraph><paragraph id="HE9005CC1679B495BB1A5C0A83F329013"><enum>(5)</enum><header>No additional fees</header><text>A dealer participating in the program may not charge a person purchasing a vehicle any additional
fees associated with the use of a voucher under the program.</text>
</paragraph><paragraph id="HA60A8E3C38AD47D7A7389316C0BE350D"><enum>(6)</enum><header>Application of certain rules</header><text>Rules similar to the rules of paragraphs (1), (2), (3), (4), and (5) of section 30(e) of such Code
shall apply for purposes of this section.</text>
</paragraph></subsection><subsection id="H36025C218A4A4CF69A93A9D21D481822"><enum>(e)</enum><header>Termination and phaseout</header>
<paragraph id="H26B909FB5EE04E85B0808E9D0ACD7886"><enum>(1)</enum><header>Termination for qualified plug-in electric vehicles</header><text>This section shall not apply to any qualified plug-in electric vehicle acquired after December 31,
2017.</text>
</paragraph><paragraph id="H5F049050713B4E87B0E15D1337597E40"><enum>(2)</enum><header>Phaseout for new qualified plug-in electric drive motor vehicle</header><text>The amount of any voucher with respect to any new qualified plug in electric drive motor vehicle
shall be reduced as provided in section 30D(e) of the Internal Revenue
Code of 1986.</text>
</paragraph></subsection><subsection id="H76209C7EC6144DBEB72F51FF6CDCDFF2"><enum>(f)</enum><header>Regulations</header><text>The Secretary of Energy, in consultation with the Secretary of the Treasury, shall prescribe such
regulations as may be necessary or appropriate to carry out the purposes
of this section.</text>
</subsection></section>