[Congressional Bills 112th Congress]
[From the U.S. Government Publishing Office]
[S. 3610 Introduced in Senate (IS)]

112th CONGRESS
  2d Session
                                S. 3610

To amend the Internal Revenue Code of 1986 to deny the inclusion of any 
antidumping or countervailing duties in the determination of the basis 
                   of any energy tax credit property.


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                   IN THE SENATE OF THE UNITED STATES

                           September 21, 2012

Mr. Wyden (for himself and Mr. Merkley) 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 deny the inclusion of any 
antidumping or countervailing duties in the determination of the basis 
                   of any energy tax credit 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 ``Investment Tax Credit Integrity 
Act''.

SEC. 2. DENIAL OF THE INCLUSION OF ANY ANTIDUMPING OR COUNTERVAILING 
              DUTIES IN THE DETERMINATION OF THE BASIS OF ANY ENERGY 
              TAX CREDIT PROPERTY.

    (a) In General.--Subsection (a) of section 48 of the Internal 
Revenue Code of 1986 is amended by adding at the end the following new 
paragraph:
            ``(6) Determination of basis does not include antidumping 
        and countervailing duties.--For purposes of this section, the 
        determination of the basis of any energy property shall not 
        include the amount of any antidumping or countervailing duty 
        imposed on such property under title VII of the Tariff Act of 
        1930 (19 U.S.C. 1671 et seq.).''.
    (b) Effective Date.--The amendment made by this section shall apply 
to any property placed in service after the date of the enactment of 
this Act.
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