[Congressional Bills 110th Congress]
[From the U.S. Government Publishing Office]
[H.R. 2742 Introduced in House (IH)]







110th CONGRESS
  1st Session
                                H. R. 2742

 To amend the Internal Revenue Code of 1986 to provide rate parity for 
open-loop and closed-loop biomass facilities under the renewable fuels 
                              tax credit.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                             June 15, 2007

Mr. Arcuri (for himself and Mr. McHugh) 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 provide rate parity for 
open-loop and closed-loop biomass facilities under the renewable fuels 
                              tax credit.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. RATE PARITY FOR OPEN-LOOP AND CLOSED-LOOP BIOMASS FACILITIES 
              UNDER THE RENEWABLE FUELS TAX CREDIT.

    (a) In General.--Section 45(b)(4)(A) of the Internal Revenue Code 
of 1986 (relating to credit rate) is amended by striking ``(3),''.
    (b) Effective Date.--The amendment made by this section shall apply 
to electricity produced and sold after the date of the enactment of 
this Act.
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