[Congressional Bills 110th Congress]
[From the U.S. Government Publishing Office]
[H.R. 6133 Introduced in House (IH)]







110th CONGRESS
  2d Session
                                H. R. 6133

  To amend the Internal Revenue Code of 1986 to extend and modify the 
 renewable energy production tax credit and the solar energy and fuel 
                      cell investment tax credit.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                              May 22, 2008

  Mr. Terry (for himself, Mr. Barton of Texas, Mr. Hall of Texas, Mr. 
  Upton, Mr. Deal of Georgia, Mr. Whitfield of Kentucky, Mr. Shimkus, 
 Mrs. Wilson of New Mexico, Mr. Shadegg, Mr. Pickering, Mr. Buyer, Mr. 
  Radanovich, Mr. Pitts, Mrs. Bono Mack, Mr. Rogers of Michigan, Mrs. 
    Myrick, Mr. Sullivan, Mr. Burgess, Mr. McCrery, Mr. English of 
 Pennsylvania, Mr. Gallegly, Mr. Pearce, Mr. McCaul of Texas, Mr. Kuhl 
  of New York, and Mr. Issa) 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 and modify the 
 renewable energy production tax credit and the solar energy and fuel 
                      cell investment tax credit.

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

SECTION 1. EXTENSION AND MODIFICATION OF RENEWABLE ENERGY PRODUCTION 
              TAX CREDIT.

    (a) Extension of Credit.--Each of the following provisions of 
section 45(d) (relating to qualified facilities) is amended by striking 
``January 1, 2009'' and inserting ``January 1, 2014'':
            (1) Paragraph (1).
            (2) Clauses (i) and (ii) of paragraph (2)(A).
            (3) Clauses (i)(I) and (ii) of paragraph (3)(A).
            (4) Paragraph (4).
            (5) Paragraph (5).
            (6) Paragraph (6).
            (7) Paragraph (7).
            (8) Paragraph (8).
            (9) Subparagraphs (A) and (B) of paragraph (9).
    (b) Production Credit for Electricity Produced From Marine 
Renewables.--
            (1) In general.--Paragraph (1) of section 45(c) (relating 
        to resources) is amended by striking ``and'' at the end of 
        subparagraph (G), by striking the period at the end of 
        subparagraph (H) and inserting ``, and'', and by adding at the 
        end the following new subparagraph:
                    ``(I) marine and hydrokinetic renewable energy.''.
            (2) Marine renewables.--Subsection (c) of section 45 is 
        amended by adding at the end the following new paragraph:
            ``(10) Marine and hydrokinetic renewable energy.--
                    ``(A) In general.--The term `marine and 
                hydrokinetic renewable energy' means energy derived 
                from--
                            ``(i) waves, tides, and currents in oceans, 
                        estuaries, and tidal areas,
                            ``(ii) free flowing water in rivers, lakes, 
                        and streams,
                            ``(iii) free flowing water in an irrigation 
                        system, canal, or other man-made channel, 
                        including projects that utilize nonmechanical 
                        structures to accelerate the flow of water for 
                        electric power production purposes, or
                            ``(iv) differentials in ocean temperature 
                        (ocean thermal energy conversion).
                    ``(B) Exceptions.--Such term shall not include any 
                energy which is derived from any source which utilizes 
                a dam, diversionary structure (except as provided in 
                subparagraph (A)(iii)), or impoundment for electric 
                power production purposes.''.
            (3) Definition of facility.--Subsection (d) of section 45 
        is amended by adding at the end the following new paragraph:
            ``(11) Marine and hydrokinetic renewable energy 
        facilities.--In the case of a facility producing electricity 
        from marine and hydrokinetic renewable energy, the term 
        `qualified facility' means any facility owned by the taxpayer--
                    ``(A) which has a nameplate capacity rating of at 
                least 150 kilowatts, and
                    ``(B) which is originally placed in service on or 
                after the date of the enactment of this paragraph and 
                before January 1, 2010.''.
            (4) Credit rate.--Subparagraph (A) of section 45(b)(4) is 
        amended by striking ``or (9)'' and inserting ``(9), or (11)''.
            (5) Coordination with small irrigation power.--Paragraph 
        (5) of section 45(d), as amended by subsection (a), is amended 
        by striking ``January 1, 2013'' and inserting ``the date of the 
        enactment of paragraph (11)''.
    (c) Sales of Electricity to Regulated Public Utilities Treated as 
Sales to Unrelated Persons.--Section 45(e)(4) (relating to related 
persons) is amended by adding at the end the following new sentence: 
``A taxpayer shall be treated as selling electricity to an unrelated 
person if such electricity is sold to a regulated public utility (as 
defined in section 7701(a)(33).''.
    (d) Trash Facility Clarification.--Paragraph (7) of section 45(d) 
is amended--
            (1) by striking ``facility which burns'' and inserting 
        ``facility (other than a facility described in paragraph (6)) 
        which uses'', and
            (2) by striking ``combustion'' in the heading thereof.
    (e) Effective Dates.--
            (1) Extension.--The amendments made by subsection (a) shall 
        apply to property originally placed in service after December 
        31, 2008.
            (2) Modifications.--The amendments made by subsections (b) 
        and (c) shall apply to electricity produced and sold after the 
        date of the enactment of this Act, in taxable years ending 
        after such date.
            (3) Trash facility clarification.--The amendments made by 
        subsection (d) shall apply to electricity produced and sold 
        before, on, or after December 31, 2007.

SEC. 2. EXTENSION AND MODIFICATION OF SOLAR ENERGY AND FUEL CELL 
              INVESTMENT TAX CREDIT.

    (a) Extension of Credit.--
            (1) Solar energy property.--Paragraphs (2)(A)(i)(II) and 
        (3)(A)(ii) of section 48(a) (relating to energy credit) are 
        each amended by striking ``January 1, 2009'' and inserting 
        ``January 1, 2018''.
            (2) Fuel cell property.--Subparagraph (E) of section 
        48(c)(1) (relating to qualified fuel cell property) is amended 
        by striking ``December 31, 2008'' and inserting ``December 31, 
        2017''.
            (3) Qualified microturbine property.--Subparagraph (E) of 
        section 48(c)(2) (relating to qualified microturbine property) 
        is amended by striking ``December 31, 2008'' and inserting 
        ``December 31, 2017''.
    (b) Allowance of Energy Credit Against Alternative Minimum Tax.--
Subparagraph (B) of section 38(c)(4) (relating to specified credits) is 
amended by striking ``and'' at the end of clause (iii), by striking the 
period at the end of clause (iv) and inserting ``, and'', and by adding 
at the end the following new clause:
                            ``(v) the credit determined under section 
                        46 to the extent that such credit is 
                        attributable to the energy credit determined 
                        under section 48.''.
    (c) Repeal of Dollar Per Kilowatt Limitation for Fuel Cell 
Property.--
            (1) In general.--Section 48(c)(1) (relating to qualified 
        fuel cell), as amended by subsection (a)(2), is amended by 
        striking subparagraph (B) and by redesignating subparagraphs 
        (C), (D), and (E) as subparagraphs (B), (C), and (D), 
        respectively.
            (2) Conforming amendment.--Section 48(a)(1) is amended by 
        striking ``paragraphs (1)(B) and (2)(B) of subsection (c)'' and 
        inserting ``subsection (c)(2)(B)''.
    (d) Public Electric Utility Property Taken Into Account.--
            (1) In general.--Paragraph (3) of section 48(a) is amended 
        by striking the second sentence thereof.
            (2) Conforming amendments.--
                    (A) Paragraph (1) of section 48(c), as amended by 
                this section, is amended by striking subparagraph (C) 
                and redesignating subparagraph (D) as subparagraph (C).
                    (B) Paragraph (2) of section 48(c), as amended by 
                subsection (a)(3), is amended by striking subparagraph 
                (D) and redesignating subparagraph (E) as subparagraph 
                (D).
    (e) Effective Dates.--
            (1) Extension.--The amendments made by subsection (a) shall 
        take effect on the date of the enactment of this Act.
            (2) Allowance against alternative minimum tax.--The 
        amendments made by subsection (b) shall apply to credits 
        determined under section 46 of the Internal Revenue Code of 
        1986 in taxable years beginning after the date of the enactment 
        of this Act and to carrybacks of such credits.
            (3) Fuel cell property and public electric utility 
        property.--The amendments made by subsections (c) and (d) shall 
        apply to periods after the date of the enactment of this Act, 
        in taxable years ending after such date, under rules similar to 
        the rules of section 48(m) of the Internal Revenue Code of 1986 
        (as in effect on the day before the date of the enactment of 
        the Revenue Reconciliation Act of 1990).
                                 <all>