II 111th CONGRESS 2d Session S. 3188 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.

1.

Short title

This Act may be cited as the American Renewable Biomass Heating Act of 2010.

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).