3.0.0 5350 2023-01-11T13:32:58Z 2023-01-11T13:32:58Z House HR 2016-05-26 114 [Congressional Record Volume 162, Number 84 (Thursday, May 26, 2016)]From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]By Mr. HONDA:H.R. 5350.Congress has the power to enact this legislation pursuantto the following:section 8 of article I of the Constitution.[Page H3296]]]> hswm00 Ways and Means Committee House Standing Referred to 2016-05-26T13:02:10Z 2016-05-26 Referred to the House Committee on Ways and Means. IntroReferral H11100 2 House floor actions hswm00 Ways and Means Committee 2016-05-26 Introduced in House IntroReferral Intro-H 9 Library of Congress 2016-05-26 Introduced in House IntroReferral 1000 9 Library of Congress H001034 Rep. Honda, Michael M. [D-CA-17] MICHAEL HONDA D CA M. 17 N R000585 Rep. Reed, Tom [R-NY-23] Tom Reed R NY 23 2016-05-26 True G000564 Rep. Gibson, Christopher P. [R-NY-19] Christopher Gibson R NY P. 19 2016-05-26 True T000472 Rep. Takano, Mark [D-CA-41] Mark Takano D CA 41 2016-05-26 True T000473 Rep. Takai, Mark [D-HI-1] Mark Takai D HI 1 2016-06-09 False G000551 Rep. Grijalva, Raúl M. [D-AZ-3] Raúl Grijalva D AZ M. 3 2016-09-12 False Taxation Alternative and renewable resources Business investment and capital Electric power generation and transmission Energy storage, supplies, demand Income tax credits Residential rehabilitation and home repair Taxation 00 2016-05-26 Introduced in House 2016-09-27T15:45:23Z Energy Storage for Grid Resilience and Modernization Act of 2016 or the Energy Storage Act of 2016

This bill amends the Internal Revenue Code to: (1) allow, through 2026, a 30% energy tax credit for investment in energy storage property capable of absorbing energy, storing the energy for a period of time, and dispatching the energy for specified purposes; (2) make energy storage property owned by a public power provider, a governmental body, or a cooperative electric company eligible for new clean renewable energy bond financing; and (3) allow, through 2026, a 30% nonbusiness energy property tax credit for residential energy storage equipment expenditures for a taxpayer's principal residence.

]]> Energy Storage Act of 2016 Display Title Energy Storage Act of 2016 Official Title as Introduced To amend the Internal Revenue Code of 1986 to provide for an energy investment credit for energy storage property connected to the grid, and for other purposes. Introduced in House IH Short Titles as Introduced Energy Storage Act of 2016 Short Titles as Introduced Energy Storage for Grid Resilience and Modernization Act of 2016 Introduced in House 2016-05-26T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-114hr5350ih/xml/BILLS-114hr5350ih.xml 2016-05-26 Referred to the House Committee on Ways and Means. 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. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.