I 113th CONGRESS 2d Session H. R. 4785 IN THE HOUSE OF REPRESENTATIVES May 30, 2014 Mr. Daines (for himself and Mrs. Kirkpatrick) introduced the following bill; which was referred to the Committee on Ways and Means A BILL To amend the Internal Revenue Code of 1986 to extend and improve the Indian coal production tax credit.

1.

Extension and improvement of Indian coal production tax credit

(a)

Repeal of limitation based on date facility is placed in service

Section 45(d) of the Internal Revenue Code of 1986 is amended to read as follows: (10)

Indian coal production facility

The term Indian coal production facility means a facility that produces Indian coal.. (b)

Repeal of limitation on period during which coal must be produced and sold; treatment of sales to related parties

Section 45(e)(10)(A) of such Code is amended by striking per ton of Indian coal— and all that follows and inserting the following: per ton of Indian coal—(i)produced by the taxpayer at an Indian coal production facility, and (ii)sold (either directly by the taxpayer or after sale or transfer to one or more related persons) to an unrelated person. . (c)

Repeal of limitation on treatment as a specified credit

(1)

In general

Section 38(c)(4)(B) of such Code is amended by redesignating clauses (iv) through (ix) as clauses (v) through (x), respectively, and by inserting after clause (iii) the following new clause: (iv)the credit determined under section 45 to the extent that such credit is attributable to section 45(e)(10) (relating to Indian coal production facilities),. (2)

Conforming amendment

Section 45(e)(10) of such Code is amended by striking subparagraph (D). (d)

Effective date

The amendments made by this section shall apply to coal produced and sold after the date of the enactment of this Act, in taxable years ending after such date.