[Congressional Bills 104th Congress]
[From the U.S. Government Publishing Office]
[H.R. 2146 Introduced in House (IH)]







104th CONGRESS
  1st Session
                                H. R. 2146

       To amend the Internal Revenue Code of 1986 to extend the 
                    nonconventional fuel tax credit.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                             July 31, 1995

 Mrs. Johnson of Connecticut 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 the 
                    nonconventional fuel tax credit.
    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. TEMPORARY EXTENSION OF NONCON- VENTIONAL FUEL CREDIT.

    (a) In General.--Section 29(g)(1) of the Internal Revenue Code of 
1986 (relating to the nonconventional fuel credit) is amended--
            (1) by striking ``1997, pursuant to a binding written 
        contract in effect before January 1, 1996'' and inserting 
        ``2001'' in subparagraph (A),
            (2) by striking ``if such facility is originally placed in 
        service after December 31, 1992'' in subparagraph (B), and
            (3) by striking ``2008'' and inserting ``2012'' in 
        subparagraph (B).
    (b) Effective Date.--The amendments made by this section shall take 
effect upon enactment.

SEC. 2. PERMISSION FOR PRODUCERS TO USE QUALIFIED FUEL TO GENERATE 
              ELECTRICITY.

    (a) In General.--Section 29(d) of such Code is amended by adding at 
the end thereof the following new paragraph:
            ``(9) Certain electricity sales.--A qualified fuel shall be 
        treated as sold by the taxpayer to an unrelated person if the 
        taxpayer uses the fuel to generate electricity which it sells 
        to an unrelated person.''
    (b) Effective Date.--The amendment made by this section shall apply 
to qualified fuels used to generate electricity after enactment.
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