3.0.0 3264 2023-01-11T13:33:11Z 2023-01-11T13:33:11Z Senate S 2016-07-14 114 ssfi00 Finance Committee Senate Standing Referred to 2016-07-14T21:00:04Z 2016-07-14 ssfi00 Finance Committee Senate Read twice and referred to the Committee on Finance. IntroReferral 2016-07-14 Introduced in Senate IntroReferral 10000 9 Library of Congress M000639 Sen. Menendez, Robert [D-NJ] Robert Menendez D NJ N S000770 Sen. Stabenow, Debbie [D-MI] Debbie Stabenow D MI 2016-07-14 True C000141 Sen. Cardin, Benjamin L. [D-MD] Ben Cardin D MD 2016-07-14 True C001035 Sen. Collins, Susan M. [R-ME] Susan Collins R ME M. 2016-07-14 True K000383 Sen. King, Angus S., Jr. [I-ME] Angus King I ME S. 2016-07-14 True A000368 Sen. Ayotte, Kelly [R-NH] Kelly Ayotte R NH 2016-07-14 True K000367 Sen. Klobuchar, Amy [D-MN] Amy Klobuchar D MN 2016-07-14 True F000062 Sen. Feinstein, Dianne [D-CA] Dianne Feinstein D CA 2016-07-14 True Taxation Taxation 00 2016-07-14 Introduced in Senate 2017-03-03T19:38:22Z This bill amends the Internal Revenue Code, with respect to the tax credit for producing electricity from renewable resources, to allow a taxpayer to elect the application of such credit to open-loop biomass and trash facilities during the period beginning after December 31, 2016, and ending before January 1, 2018 (in lieu of the 10-year period after the facilities are originally placed in service). The bill limits the aggregate period during which a taxpayer can claim a tax credit with respect to a facility to 10 years.

The bill also modifies the definition of "municipal solid waste" to specify that the term does not include solid waste collected as part of a system which commingles commonly recycled paper with other solid waste which is not commonly recycled at any point from the time of collection through any materials recovery. The bill includes exceptions for incidental and residual waste.

In the case of a facility that produces electricity both from municipal solid waste and other solid waste that is not a qualified energy resource: (1) the facility is a qualified facility if it otherwise meets the requirements for qualified facilities, and (2) the credit only applies to the portion of the electricity produced from municipal solid waste.]]>

A bill to amend the Internal Revenue Code of 1986 to modify the credit for production of electricity from renewable resources to allow a credit for certain open-loop biomass and trash facilities placed in service before the date of the enactment of this Act and to modify the definition of municipal solid waste. Display Title A bill to amend the Internal Revenue Code of 1986 to modify the credit for production of electricity from renewable resources to allow a credit for certain open-loop biomass and trash facilities placed in service before the date of the enactment of this Act and to modify the definition of municipal solid waste. Official Title as Introduced A bill to amend the Internal Revenue Code of 1986 to modify the credit for production of electricity from renewable resources to allow a credit for certain open-loop biomass and trash facilities placed in service before the date of the enactment of this Act and to modify the definition of municipal solid waste. Introduced in Senate 2016-07-14T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-114s3264is/xml/BILLS-114s3264is.xml 2016-07-14 Read twice and referred to the Committee on Finance. 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.