3.0.0 2391 2023-01-11T13:32:22Z 2023-01-11T13:32:22Z Senate S 2015-12-10 114 ssfi00 Finance Committee Senate Standing Referred to 2015-12-10T22:22:11Z Biodiesel Tax Incentive Reform and Extension Act of 2016 114 5240 HR 2016-05-13 Referred to the House Committee on Ways and Means. Related bill CRS 2015-12-10 ssfi00 Finance Committee Senate Read twice and referred to the Committee on Finance. (Sponsor introductory remarks on measure: CR S8607-8609) IntroReferral 2015-12-10 Introduced in Senate IntroReferral 10000 9 Library of Congress S000033 Sen. Sanders, Bernard [I-VT] Bernard Sanders I VT N M000133 Sen. Markey, Edward J. [D-MA] Edward Markey D MA J. 2015-12-10 True M001176 Sen. Merkley, Jeff [D-OR] Jeff Merkley D OR 2015-12-10 True Taxation Alternative and renewable resources Building construction Business investment and capital Commuting Electric power generation and transmission Employee benefits and pensions Energy efficiency and conservation Hybrid, electric, and advanced technology vehicles Income tax credits Income tax deductions Income tax exclusion Lighting and heating Lighting, heating, cooling Motor fuels Public transit Residential rehabilitation and home repair Sales and excise taxes Tax-exempt organizations Taxation 00 2015-12-10 Introduced in Senate 2016-02-16T20:15:31Z American Clean Energy Investment Act of 2015

This bill amends the Internal Revenue Code to extend and modify tax provisions relating to energy.

TITLE I--REDUCING CARBON POLLUTION AND CREATING JOBS BY TRANSITIONING TO SUSTAINABLE ENERGY SOURCES

This title makes permanent: (1) the tax credit for producing electricity from renewable resources, (2) the energy tax credit, and (3) the qualifying advanced energy project credit.

The Department of the Treasury must provide grants to tax-exempt organizations for investment in specified energy property, including qualified fuel cell property, solar property, qualified small wind energy property, geothermal property, qualified microturbine property, combined heat and power system property, and geothermal heat pump property.

The title expands the energy tax credit to allow a 30% credit for investment in offshore wind energy facilities.

TITLE II--SAVING CONSUMERS AND BUSINESSES MONEY BY PROMOTING ENERGY EFFICIENCY

This title makes permanent the tax deduction for energy efficient commercial buildings and updates the energy standard applicable to such buildings. Also made permanent are the tax credits for new energy efficient homes, for nonbusiness energy property, and for residential energy efficient property.

TITLE III--HELPING AMERICANS MOVE BEYOND OIL

This title: (1) eliminates the phaseout of the applicable percentage for the tax credit for investment in new qualified plug-in electric drive motor vehicles, (2) makes permanent the credit for two and three-wheeled plug-in electric vehicles, (3) increases the dollar limitation on the battery capacity for such vehicles from $5,000 to $7,500, and (4) makes the personal tax credit allowed for investment in such vehicles refundable.

The title makes permanent: (1) the tax credit for investment in hybrid medium and heavy-duty trucks, and (2) the parity at $250 of the tax exclusion for employer-provided mass transit and parking benefits.

The title extends through 2022: (1) the second generation biofuel producer credit, and (2) the income and excise tax credits for biodiesel and renewable diesel, (3) the special depreciation allowance for second generation biofuel plant property, and (4) the tax credit for alternative vehicle refueling property expenditures. New income and excise tax credits at $1.00 per gallon are allowed for the production of biodiesel and an increased credit is allowed for small biodiesel producers.

]]> American Clean Energy Investment Act of 2015 Display Title American Clean Energy Investment Act of 2015 Official Title as Introduced A bill to amend the Internal Revenue Code of 1986 to permanently extend certain energy tax provisions. Introduced in Senate IS Short Titles as Introduced American Clean Energy Investment Act of 2015 Introduced in Senate 2015-12-10T05:00:00Z https://www.govinfo.gov/content/pkg/BILLS-114s2391is/xml/BILLS-114s2391is.xml 2015-12-10 Read twice and referred to the Committee on Finance. (Sponsor introductory remarks on measure: CR S8607-8609) 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.