3.0.0 913 2021-07-10T19:50:35Z 2022-11-04T13:28:10Z Senate S 2015-04-14 114 ssfi00 Finance Committee Senate Standing Reported original measure 2015-04-14T15:01:36Z S. Rept. 114-23 2015-04-14 Senate Placed on Senate Legislative Calendar under General Orders. Calendar No. 46. Calendars 2015-04-14 ssfi00 Finance Committee Senate Committee on Finance. Original measure reported to Senate by Senator Hatch. With written report No. 114-23. Committee 2015-04-14 Committee on Finance. Original measure reported to Senate by Senator Hatch. With written report No. 114-23. Committee 14000 9 Library of Congress ssfi00 Finance Committee 2015-04-14 Introduced in Senate IntroReferral 10000 9 Library of Congress H000338 Sen. Hatch, Orrin G. [R-UT] ORRIN HATCH R UT GRANT N Taxation Alternative and renewable resources Electric power generation and transmission Energy efficiency and conservation Income tax credits Lighting and heating Lighting, heating, cooling Taxation 00 2015-04-14 Introduced in Senate 2015-05-20T18:44:01Z This bill amends the Internal Revenue Code to allow an energy tax credit for investment in waste heat to power property.

The bill defines "waste heat to power property" as property: (1) comprising a system which generates electricity through the recovery of a qualified waste heat resource; and (2) that is placed in service before January 1, 2017. "Qualified waste heat resource" is defined as: (1) exhaust heat or flared gas from an industrial process that does not have as its primary purpose the production of electricity, and (2) a pressure drop in any gas for an industrial or commercial process.

The bill also increases from 30% to 35% the rate of the continuous levy on payments to Medicare providers and suppliers for unpaid taxes.

]]> 80 2015-04-14 Reported to Senate without amendment 2015-05-20T18:45:24Z (This measure has not been amended since it was introduced. The summary has been expanded because action occurred on the measure.)

(Sec. 1) This bill amends the Internal Revenue Code to allow an energy tax credit for investment in waste heat to power property. The property cannot have a capacity in excess of 50 megawatts.

The bill defines "waste heat to power property" as property: (1) comprising a system which generates electricity through the recovery of a qualified waste heat resource; and (2) that is placed in service before January 1, 2017. "Qualified waste heat resource" is defined as: (1) exhaust heat or flared gas from an industrial process that does not have as its primary purpose the production of electricity, and (2) a pressure drop in any gas for an industrial or commercial process.

The bill provides for a formula to limit the basis of any waste heat to power property for purposes of calculating the credit.

The amendments made by this section apply to taxable years ending after the enactment date of this Act.

(Sec. 2) The bill also increases from 30% to 35% the rate of the continuous levy on payments made after 180 days after the enactment date of this Act to Medicare providers and suppliers for unpaid taxes.

]]> An original bill to amend the Internal Revenue Code of 1986 to provide an investment tax credit for waste heat to power technology. Display Title An original bill to amend the Internal Revenue Code of 1986 to provide an investment tax credit for waste heat to power technology. Official Title as Introduced An original bill to amend the Internal Revenue Code of 1986 to provide an investment tax credit for waste heat to power technology. Placed on Calendar Senate 2015-04-14T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-114s913pcs/xml/BILLS-114s913pcs.xml 2015-04-14 Placed on Senate Legislative Calendar under General Orders. Calendar No. 46. 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.