1.
(a)This Act may be cited
as the Renewable Energy Investment Act
of 2009
.
(b)Except as otherwise expressly provided, whenever in
this subtitle an amendment or repeal is expressed in terms of an amendment to,
or repeal of, a section or other provision, the reference shall be considered
to be made to a section or other provision of the Internal Revenue Code of
1986.
(c)
Sec. 1. Short title; etc.
Title I—Investment in Renewable Energy
Sec. 101. Extension of renewable electricity production
credit.
Sec. 102. Expansion and extension of new clean renewable energy
bonds.
Sec. 103. Extension of investment tax credit for certain energy
property.
Sec. 104. Increase in credit for investment in advanced energy
facilities.
Title II—Investment in Alternative Fuel Property
Sec. 201. Extension of credits for alcohol fuels.
Sec. 202. Extension of credits for biodiesel and renewable
diesel.
Title III—Investment in Ethanol
Sec. 301. Research in and development of fungible
biofuels.
<enum>I</enum><header>Investment in
Renewable Energy</header>
<section id="HB29A85F4BF3D40C8A96323715707350E"><enum>101.</enum><header>Extension of
renewable electricity production credit</header>
<subsection id="H23B981EA114C4B87A36C46C8AB03F93B"><enum>(a)</enum><header>In
General</header><text>Subsection (d) of section 45 is amended—</text>
<paragraph id="HD853A0119549460C9BCDA14BEFFEA402"><enum>(1)</enum><text>by striking
<quote>January 1, 2013</quote> in paragraph (1) and inserting <quote>January 1,
2015</quote>, and</text>
</paragraph><paragraph id="HFEC6E66F33F148B29174EE77CF9FE78A"><enum>(2)</enum><text>by striking
<quote>January 1, 2014</quote> each place it appears in paragraphs (2), (3),
(4), (6), (7), (9), and (11)(B) and inserting <quote>January 1,
2015</quote>.</text>
</paragraph></subsection><subsection id="H823F4AFB231148B5ADEF4EEF05FE1500"><enum>(b)</enum><header>Effective
Date</header><text>The amendments made by this section shall apply to property
placed in service after the date of the enactment of this Act.</text>
</subsection></section><section id="H31FB310904A54626974D89F08E529316"><enum>102.</enum><header>Expansion and
extension of new clean renewable energy bonds</header>
<subsection id="HA27013103F8C467B8368800170DB2E09"><enum>(a)</enum><header>In
General</header><text>Paragraph (2) of section 54C(c) is amended by inserting
<quote>, for calendar years 2011, 2012, 2013, and 2014, an additional
$500,000,000 for each year, and, except as provided in paragraph (5) for years
after 2014, zero,</quote> after <quote>$800,000,000</quote>.</text>
</subsection><subsection id="HBAA786B7542F4FCF82EE943605A7F8E9"><enum>(b)</enum><header>Carryover of
Unused Limitation</header><text>Subsection (c) of section 54C is amended by
adding at the end the following new paragraph:</text>
<quoted-block id="HE469B9C091D14A75804DE3782B9C044F" style="OLC">
<paragraph id="H3CDDF40D4ADF4E21AF9DC82261230B29"><enum>(5)</enum><header>Carryover of
unused limitation</header><text>If for any calendar year—</text>
<subparagraph id="H03E65207AF9E4510AC976FDC89478AA2"><enum>(A)</enum><text>the amount
allocated under paragraph (2) for such calendar year, exceeds</text>
</subparagraph><subparagraph id="HD3CC55E0C8F44456884479F01CEFD8CF"><enum>(B)</enum><text>the amount of
bonds issued during such year which are designated under subsection (a)
pursuant to such allocation,</text>
</subparagraph><continuation-text continuation-text-level="paragraph">then the
limitation amount under paragraph (2) for the following calendar year shall be
increased by the amount of such
excess.</continuation-text></paragraph><after-quoted-block>.</after-quoted-block></quoted-block>
</subsection><subsection id="H8F598458FF534CDD837CCD2E65CB0862"><enum>(c)</enum><header>Effective
Date</header><text>The amendments made by this section shall apply to bonds
issued after December 31, 2010.</text>
</subsection></section><section id="HB836FE00173F49F2A194A12F4ECCD5CB"><enum>103.</enum><header>Extension of
investment tax credit for certain energy property</header>
<subsection id="HCDBF3E4ADA7743E0BD70E99B74D00632"><enum>(a)</enum><header>Solar Energy
Property</header><text>Paragraphs (2)(A)(i)(II) and (3)(A)(ii) of section 48(a)
are each amended by striking <quote>January 1, 2017</quote> and inserting
<quote>January 1, 2019</quote>.</text>
</subsection><subsection id="H7AC5E68145F14B5780B10D51ACA403C3"><enum>(b)</enum><header>Fuel Cell
Property</header><text>Subparagraph (D) of section 48(c)(1) is amended by
striking <quote>December 31, 2016</quote> and inserting <quote>December 31,
2018</quote>.</text>
</subsection><subsection id="HE3B2AE7E9D4147E2B260BD513560FF9C"><enum>(c)</enum><header>Qualified Small
Wind Energy Property</header><text>Subparagraph (C) of section 48(c)(4) is
amended by striking <quote>December 31, 2016</quote> and inserting
<quote>December 31, 2018</quote>.</text>
</subsection><subsection id="H5BAC71CA1CA445FE87857A3458376283"><enum>(d)</enum><header>Geothermal Heat
Pump Systems</header><text>Clause (vii) of section 48(a)(3)(A) is amended by
striking <quote>January 1, 2017</quote> and inserting <quote>January 1,
2019</quote>.</text>
</subsection><subsection id="H673D9870DEB7405C8C2DC62B8B9274F9"><enum>(e)</enum><header>Effective
Date</header><text>The amendments made by this section shall apply to property
placed in service after the date of the enactment of this Act.</text>
</subsection></section><section id="H22DD31A07FDE41D18D9B641F46A4B13D"><enum>104.</enum><header>Increase in
credit for investment in advanced energy facilities</header>
<subsection id="H15BA01A8ECE44348A70F3C4B27B1D39B"><enum>(a)</enum><header>In
General</header><text>Subparagraph (B) of section 48C(d)(1) is amended by
striking <quote>$2,300,000,000</quote> and inserting
<quote>$4,000,000,000</quote>.</text>
</subsection><subsection id="HC20E6160A08B407DB715810D746F5762"><enum>(b)</enum><header>Effective
Date</header><text>The amendment made by this section shall take effect as if
included in the amendments made by section 1302 of the American Recovery and
Reinvestment Tax Act of 2009.</text>
</subsection></section><enum>II</enum><header>Investment in
Alternative Fuel Property</header>
<section id="H6869E4C6D0704279AFB32FCA4DF72AE6"><enum>201.</enum><header>Extension of
credits for alcohol fuels</header>
<subsection id="H5D386650D46648BFB6DBD7D75A7FA520"><enum>(a)</enum><header>In
General</header><text>Sections 40, 6426(b)(6), and 6427(e)(6)(A) are each
amended by striking <quote>2010</quote> each place it appears and inserting
<quote>2011</quote>.</text>
</subsection><subsection id="H159BCF82F00A4304995E68A0E8BF8715"><enum>(b)</enum><header>Conforming
Amendment</header><text>Section 40(e)(1)(B) is amended by striking
<quote>2011</quote> and inserting <quote>2012</quote>.</text>
</subsection><subsection id="H8FCDCA12225240549847F64837375E23"><enum>(c)</enum><header>Effective
Date</header><text>The amendments made by this section shall apply to sales and
uses after the date of the enactment of this Act.</text>
</subsection></section><section id="HF43D41F25D344EB0B36F2CE9BC1002C2"><enum>202.</enum><header>Extension of
credits for biodiesel and renewable diesel</header>
<subsection id="HF90F12E08606442581D6C2D506EBBA65"><enum>(a)</enum><header>In
General</header><text>Sections 40A(g), 6426(c)(6), and 6427(e)(6)(B) are each
amended by striking <quote>December 31, 2009</quote> each place it appears and
inserting <quote>December 31, 2011</quote>.</text>
</subsection><subsection id="HCD03314675F045019735BC691CF43CE2"><enum>(b)</enum><header>Effective
Date</header><text>The amendments made by this section shall apply to sales and
uses after the date of the enactment of this Act.</text>
</subsection></section><enum>III</enum><header>Investment in
Ethanol</header>
<section id="H8EF1A72F80C34FA9B916328F339B0016"><enum>301.</enum><header>Research in and
development of fungible biofuels</header><text display-inline="no-display-inline">There is authorized to be appropriated for
advanced biofuels research, development, and demonstration that will create
fuels that are fungible in existing infrastructure $100,000,000.</text>
</section>