[Congressional Bills 110th Congress]
[From the U.S. Government Publishing Office]
[H.R. 6818 Introduced in House (IH)]







110th CONGRESS
  2d Session
                                H. R. 6818

 To amend the Internal Revenue Code of 1986 to provide for an enhanced 
 credit to individuals who place qualified solar electric property in 
                            service in 2009.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                             August 1, 2008

  Mr. McCarthy of California 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 for an enhanced 
 credit to individuals who place qualified solar electric property in 
                            service in 2009.

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

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Spurring Our Limitless and Abundant 
Renewable Energy Act of 2008''.

SEC. 2. QUALIFIED SOLAR ELECTRIC PROPERTY PLACED IN SERVICE IN 2009.

    (a) In General.--Section 25D of the Internal Revenue Code of 1986 
(relating to residential energy efficient property is amended by 
redesignating subsection (g) as subsection (h) and by inserting after 
subsection (f) the following new subsection:
    ``(g) Special Rules for Qualified Solar Electric Property Placed in 
Service in 2009.--
            ``(1) In general.--In the case of qualified solar electric 
        property expenditures with respect to the principal place of 
        abode of the taxpayer which are properly taken into account in 
        the first taxable year beginning in 2009--
                    ``(A) subsection (a)(1) shall be applied by 
                substituting `the applicable percentage' for `30 
                percent',
                    ``(B) subsection (b)(1)(A) shall not apply,
                    ``(C) subsection (e)(4) shall not apply, and
                    ``(D) subsection (h) shall not apply.
            ``(2) Applicable percentage.--For purposes of this 
        subsection--
                    ``(A) In general.--The applicable percentage shall 
                be determined as follows:


----------------------------------------------------------------------------------------------------------------
    ``Qualified solar electric property expenditures  designed to
  generate the following percentages of  average monthly electrical
                                 use:                                          Applicable percentage is:
----------------------------------------------------------------------
               More than                        Not more than:
----------------------------------------------------------------------------------------------------------------
                                        25 percent...................  30 percent
25 percent............................  50 percent...................  35 percent
50 percent............................  .............................  40 percent.
----------------------------------------------------------------------------------------------------------------

                    ``(B) Average monthly electrical use.--For purposes 
                of subparagraph (A)--
                            ``(i) In general.--The term `average 
                        monthly electrical use' means, with respect to 
                        the principal place of abode of the taxpayer, 
                        the average monthly electrical usage of the 
                        taxpayer over the 1-year period ending with the 
                        most recent period ending before the date on 
                        which the qualified solar electric property is 
                        placed in service.
                            ``(ii) Property not used by taxpayer for 
                        entire 1-year period.--If the taxpayer did not 
                        occupy the property with respect to which such 
                        qualified solar electric property expenditures 
                        were made for the entire 1-year period referred 
                        to in subparagraph (A), such paragraph shall be 
                        applied on the basis of the period during which 
                        the taxpayer occupied such property.
            ``(3) Limitation based on amount of tax.--If paragraph (1) 
        applies for a taxable year to which section 26(a)(2) does not 
        apply, the credit allowed under subsection (a) for such taxable 
        year by reason of paragraph (1) shall not exceed the excess 
        of--
                    ``(A) the sum of the regular tax liability (as 
                defined in section 26(b)) plus the tax imposed by 
                section 55, over
                    ``(B) the sum of the credits allowable under this 
                subpart (other than this section) and section 27 for 
                the taxable year.
            ``(4) Regulations.--The Secretary shall issue such 
        regulations as may be necessary or appropriate to carry out 
        this subsection, including regulations providing for 
        appropriate verification systems relating to electricity 
        usage.''.
    (b) Conforming Amendments.--
            (1) Section 23(b)(4)(B) of such Code is amended by 
        inserting ``and section 25D(g)'' after ``this section''.
            (2) Section 24(b)(3)(B) of such Code is amended by striking 
        ``23 and 25B'' and by inserting ``23, 25B, and 25D(g)''.
            (3) Section 25(g)(2) of such Code is amended by inserting 
        ``and 25D(g)'' after ``23''.
    (c) Effective Date.--The amendments made by this section shall 
apply to taxable years beginning after December 31, 2008.
                                 <all>