[Congressional Bills 111th Congress]
[From the U.S. Government Publishing Office]
[S. 3188 Introduced in Senate (IS)]

111th CONGRESS
  2d Session
                                S. 3188

To amend the Internal Revenue Code of 1986 to provide an investment tax 
                  credit for biomass heating property.


_______________________________________________________________________


                   IN THE SENATE OF THE UNITED STATES

                             March 25, 2010

 Mrs. Shaheen (for herself, Ms. Murkowski, Mr. Begich, and Mr. Crapo) 
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 provide an investment tax 
                  credit for biomass heating property.

    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 ``American Renewable Biomass Heating 
Act of 2010''.

SEC. 2. INVESTMENT TAX CREDIT FOR BIOMASS HEATING PROPERTY.

    (a) In General.--Subparagraph (A) of section 48(a)(3) of the 
Internal Revenue Code of 1986 (defining energy property) is amended by 
striking ``or'' at the end of clause (vi), by inserting ``or'' at the 
end of clause (vii), and by inserting after clause (vii) the following 
new clause:
                            ``(viii) biomass heating property, 
                        including boilers or furnaces which operate at 
                        output efficiencies greater than 75 percent and 
                        which provide thermal energy in the form of 
                        heat, hot water, or steam for space heating, 
                        air conditioning, domestic hot water, or 
                        industrial process heat, but only with respect 
                        to periods ending before January 1, 2014,''.
    (b) 30 Percent Credit.--Clause (i) of section 48(a)(2)(A) of the 
Internal Revenue Code of 1986 is amended by striking ``and'' at the end 
of subclause (III) and by inserting after subclause (IV) the following 
new subclause:
                                    ``(V) energy property described in 
                                paragraph (3)(A)(viii), and''.
    (c) Effective Date.--The amendments made by this section shall 
apply to periods after the date of the enactment of this Act, in 
taxable years ending after such date, under rules similar to the rules 
of section 48(m) of the Internal Revenue Code of 1986 (as in effect on 
the day before the date of the enactment of the Revenue Reconciliation 
Act of 1990).
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