1.This Act may be cited as the
Super-Efficient Appliance Incentives
and Market Transformation Act of 2007
.
2.Modifications of
energy efficient appliance credit for appliances produced after 2007
(a)Section 45M of the Internal Revenue Code of 1986 is
amended to read as follows:
45M.Energy
efficient appliance credit
(a)
(1)For purposes of section 38, the energy efficient
appliance credit determined under this section for any taxable year is an
amount equal to the sum of the credit amounts determined under paragraph (2)
for each type of qualified energy efficient appliance produced by the taxpayer
during the calendar year ending with or within the taxable year.
(2)The credit amount determined for any type of qualified
energy efficient appliance is—
(A)the applicable
amount determined under subsection (b) with respect to such type, multiplied
by
(B)the eligible
production for such type.
(b)For purposes of subsection (a)—
(1)The
applicable amount is—
(A)$45 in the case
of a residential model dishwasher which—
(i)is manufactured
in calendar year 2008 or 2009, and
(ii)uses not more
than 324 kilowatt hours per year and 5.8 gallons per cycle, and
(B)$75 in the case
of a residential model dishwasher which—
(i)is manufactured
in calendar year 2008, 2009, or 2010, and
(ii)uses not more
than 307 kilowatt hours per year and 5.0 gallons per cycle (5.5 gallons for
dishwashers designed for greater than 12 place settings).
(2)The applicable amount is—
(A)$75 in the case
of a residential model top-loading clothes washer which—
(i)is manufactured
in calendar year 2008, and
(ii)meets or exceeds
a 1.72 MEF and does not exceed an 8.0 water consumption factor,
(B)$125 in the case
of a residential model top-loading clothes washer which—
(i)is manufactured
in calendar year 2008 or 2009, and
(ii)meets or exceeds
a 1.8 MEF and does not exceed a 7.5 water consumption factor,
(C)$150 in the case
of a residential or commercial model clothes washer which—
(i)is manufactured
in calendar year 2008, 2009, or 2010, and
(ii)meets or exceeds
2.0 MEF and does not exceed a 6.0 water consumption factor, and
(D)$250 in the case
of a residential or commercial model clothes washer which—
(i)is manufactured
in calendar year 2008, 2009, or 2010, and
(ii)meets or exceeds
2.2 MEF and does not exceed a 4.5 water consumption factor.
(3)The
applicable amount is—
(A)$50 in the case
of a residential model refrigerator which—
(i)is manufactured
in calendar year 2008, and
(ii)consumes at
least 20 percent, but not more than 22.9 percent, less kilowatt hours per year
than the 2001 energy conservation standards,
(B)$75 in the case
of a residential model refrigerator which—
(i)is manufactured
in calendar year 2008 or 2009, and
(ii)consumes at
least 23 percent, but not more than 24.9 percent, less kilowatt hours per year
than the 2001 energy conservation standards,
(C)$100 in the case
of a residential model refrigerator which—
(i)is manufactured
in calendar year 2008, 2009, or 2010, and
(ii)consumes at
least 25 percent, but not more than 29.9 percent, less kilowatt hours per year
than the 2001 energy conservation standards, and
(D)$200 in the case
of a residential model refrigerator which—
(i)is manufactured
in calendar year 2008, 2009, or 2010, and
(ii)consumes at
least 30 percent less kilowatt hours per year than the 2001 energy conservation
standards.
(4)The
applicable amount is—
(A)$15 in the case
of a dehumidifier which—
(i)is manufactured
in calendar year 2008, and
(ii)has a capacity
less than or equal to 45 pints per day and is 7.5 percent more efficient than
the applicable Department of Energy energy conservation standard effective
October 2012, and
(B)$25 in the case
of a dehumidifier which—
(i)is manufactured
in calendar year 2008, and
(ii)has a capacity
greater than 45 pints per day and is 7.5 percent more efficient than such
conservation standard.
(c)The eligible production in a calendar year with
respect to each type of qualified energy efficient appliance is the excess
of—
(1)the number of
appliances of such type which are produced by the taxpayer for sale within the
United States during such calendar year, over
(2)the average
number of appliances of such type which were produced by the taxpayer (or any
predecessor) for sale within the United States during the preceding 2-calendar
year period.
(d)Types of
qualified energy efficient appliancesFor purposes of this
section, the types of qualified energy efficient appliances are—
(1)dishwashers
described in subsection (b)(1),
(2)clothes washers
described in subsection (b)(2),
(3)refrigerators
described in subsection (b)(3), and
(4)dehumidifiers
described in subsection (b)(4).
(e)
(1)Aggregate
credit amount allowedExcept as provided in paragraph (2), the
aggregate amount of credit allowed under subsection (a) with respect to a
taxpayer for any taxable year shall not exceed $100,000,000 reduced by the
amount of the credit allowed under subsection (a) to the taxpayer (or any
predecessor) for all prior taxable years beginning after December 31,
2007.
(2)Amount allowed
for certain clothes washers and refrigeratorsFor purposes of
paragraph (1), clothes washers described in subsection (b)(2)(D) and
refrigerators described in subsection (b)(3)(D) shall not be taken into
account.
(3)Limitation
based on gross receiptsThe credit allowed under subsection (a)
with respect to a taxpayer for the taxable year shall not exceed an amount
equal to 2 percent of the average annual gross receipts of the taxpayer for the
3 taxable years preceding the taxable year in which the credit is determined
beginning after December 31, 2007.
(4)For purposes of this subsection, the rules of paragraphs
(2) and (3) of section 448(c) shall apply.
(f)For
purposes of this section:
(1)The
term dishwasher means a dishwasher subject to the energy
conservation standards established by the Department of Energy.
(2)The term clothes washer includes a clothes
washer subject to the energy conservation standards established by the
Department of Energy.
(3)Top-loading
clothes washerThe term top-loading clothes washer
means a clothes washer with the clothes container compartment access located on
the top of the machine.
(4)The
term refrigerator means an automatic defrost refrigerator-freezer
which has an internal volume of at least 16.5 cubic feet.
(5)The
term dehumidifier means a self-contained, electrically operated,
and mechanically refrigerated encased assembly consisting of—
(A)a refrigerated
surface that condenses moisture from the atmosphere,
(B)a refrigerating
system, including an electric motor,
(C)an
air-circulating fan, and
(D)means for
collecting or disposing of condensate.
(6)The term gallons per cycle means the amount of
water, expressed in gallons, required to complete a normal cycle of a
dishwasher.
(7)The
term MEF means the modified energy factor established by the
Department of Energy for compliance with the Federal energy conservation
standard.
(8)The term water consumption factor
means the quotient of the total weighted per-cycle water consumption divided by
the cubic foot capacity of the clothes washer.
(9)2001 energy
conservation standardThe term 2001 energy conservation
standard means the energy conservation standards promulgated by the
Department of Energy and effective July 1, 2001.
(g)For purposes of this section:
(1)Rules similar to the rules of subsections (c), (d), and
(e) of section 52 shall apply.
(2)
(A)All persons treated as a single employer under subsection
(a) or (b) of section 52 or subsection (m) or (o) of section 414 shall be
treated as a single producer.
(B)Inclusion of
foreign corporationsFor purposes of subparagraph (A), in
applying subsections (a) and (b) of section 52 to this section, section 1563
shall be applied without regard to subsection (b)(2)(C) thereof.
(3)No
amount shall be allowed as a credit under subsection (a) with respect to which
the taxpayer has not submitted such information or certification as the
Secretary, in consultation with the Secretary of Energy, determines
necessary.
.
(b)Credit allowed
against the alternative minimum taxSection 38(c)(4)(B) of the
Internal Revenue Code of 1986 (relating to specified credits) is
amended—
(1)by striking
and
at the end of clause (i),
(2)by striking the
period at the end of clause (ii)(II) and inserting , and
,
and
(3)by adding at the
end the following new clause:
(iii)for taxable
years beginning after December 31, 2007, the credit determined under section
45M.
.
(c)The amendments made by this section shall apply to
appliances produced after December 31, 2007.