[Congressional Bills 110th Congress]
[From the U.S. Government Publishing Office]
[S. 3679 Introduced in Senate (IS)]







110th CONGRESS
  2d Session
                                S. 3679

  To amend the Internal Revenue Code of 1986 to expand the credit for 
 renewable electricity production to include electricity produced from 
                        biomass for on-site use.


_______________________________________________________________________


                   IN THE SENATE OF THE UNITED STATES

            October 2 (legislative day, September 17), 2008

   Mrs. Dole introduced the following bill; which was read twice and 
                  referred to the Committee on Finance

_______________________________________________________________________

                                 A BILL


 
  To amend the Internal Revenue Code of 1986 to expand the credit for 
 renewable electricity production to include electricity produced from 
                        biomass for on-site use.

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

SECTION 1. MODIFICATION OF RENEWABLE ELECTRICITY PRODUCTION CREDIT FOR 
              BIOMASS FACILITIES.

    (a) In General.--Subsection (e) of section 45 of the Internal 
Revenue Code of 1986 is amended by adding at the end the following new 
paragraph:
            ``(12) Credit allowed for electricity produced from biomass 
        for on-site use.--In the case of electricity produced after 
        December 31, 2008, at any facility described in paragraph (2) 
        or (3) of subsection (d) which is equipped with a metering 
        device to determine electricity consumption or sale, subsection 
        (a)(2) shall be applied without regard to subparagraph (B) 
        thereof with respect to such electricity produced and consumed 
        at such facility.''.
    (b) Credit Period for Electricity Produced From Open-Loop Biomass 
for On-Site Use.--Subparagraph (B) of section 45(b)(4) of the Internal 
Revenue Code of 1986 is amended--
            (1) by striking ``clause (ii) or clause (iii)'' in clause 
        (i) and inserting ``clause (ii), (iii), or (iv)'',
            (2) by redesignating clause (iii) as clause (iv), and
            (3) by inserting after clause (ii) the following new 
        clause:
                            ``(iii) Electricity produced for on-site 
                        use at certain open-loop biomass facilities.--
                        In the case of electricity produced and 
                        consumed as described in subsection (e)(12) at 
                        any facility described in subsection 
                        (d)(3)(A)(ii) which is placed in service before 
                        the date of the enactment of this clause, the 
                        5-year period beginning on January 1, 2009, 
                        shall be substituted for the 10-year period in 
                        subsection (a)(2)(A)(ii).''.
    (c) Effective Date.--The amendments made by this section shall take 
effect on the date of the enactment of this Act.
                                 <all>