[Congressional Bills 111th Congress]
[From the U.S. Government Publishing Office]
[H.R. 2438 Introduced in House (IH)]

111th CONGRESS
  1st Session
                                H. R. 2438

To amend the Internal Revenue Code of 1986 to provide a temporary bonus 
              research credit for energy-related research.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                              May 14, 2009

Mr. Larson of Connecticut (for himself and Mr. Reichert) 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 a temporary bonus 
              research credit for energy-related research.

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

SECTION 1. BONUS RESEARCH CREDIT FOR ENERGY RESEARCH.

     (a) In General.--Section 41 of the Internal Revenue Code of 1986 
is amended by redesignating subsection (h) as subsection (i) and by 
inserting after subsection (g) the following new subsection:
    ``(h) Temporary Bonus for Qualifying Energy Research Expenses.--In 
the case of any taxable year beginning in 2009 or 2010--
            ``(1) In general.--At the election of the taxpayer, the 
        credit determined under subsection (a)(1) (with or without the 
        application of subsection (c)(5)) shall, with respect to 
        qualified energy research expenses, be increased by 20 
        percentage points.
            ``(2) Qualified energy research expenses.--For purposes of 
        this subsection, the term `qualified energy research expenses' 
        means so much of the taxpayer's qualified research expenses as 
        are related to the fields of fuel cells and battery technology, 
        renewable energy, energy conservation technology, efficient 
        transmission and distribution of electricity, and carbon 
        capture and sequestration.
            ``(3) Coordination with alternative simplified credit.--For 
        purposes of subsection (c)(5), the amount of qualified energy 
        research expenses taken into account for the taxable year for 
        which the credit is being determined shall not exceed--
                    ``(A) in the case of subsection (c)(5)(A), 50 
                percent of the average qualified research expenses for 
                the 3 taxable years preceding the taxable year for 
                which the credit is begin determined, and
                    ``(B) in the case of subsection (c)(5)(B)(ii), 
                zero.
            ``(4) Basic research and energy research consortium 
        payments.--Any amount taken into account under paragraph (1) 
        shall not be taken into account under paragraph (2) or (3) of 
        subsection (a).''.
    (b) Conforming Amendment.--Subparagraph (B) of section 41(i)(1)(B) 
of such Code, as redesignated by subsection (a), is amended by 
inserting ``(in the case of the increase in the credit determined under 
subsection (h), December 31, 2010)'' after ``December 31, 2009''.
    (c) Effective Date.--The amendments made by this section shall 
apply to taxable years beginning after December 31, 2008.
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