[Congressional Bills 113th Congress]
[From the U.S. Government Publishing Office]
[H.R. 2539 Introduced in House (IH)]

113th CONGRESS
  1st Session
                                H. R. 2539

To amend the Internal Revenue Code of 1986 to extend certain provisions 
        of the renewable energy credit, and for other purposes.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                             June 27, 2013

 Ms. Schakowsky (for herself, Mr. Braley of Iowa, Mr. Cartwright, Mr. 
Delaney, Mr. Ellison, Mr. Grijalva, Mr. Hastings of Florida, Mr. Holt, 
  Mr. Huffman, Ms. Lee of California, Mr. Loebsack, Ms. Lofgren, Ms. 
 McCollum, Mr. George Miller of California, Mr. Moran, Mr. Pocan, Mr. 
Takano, and Ms. Wilson of Florida) 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 extend certain provisions 
        of the renewable energy credit, and for other purposes.

    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 ``Prioritizing Energy Efficient 
Renewables Act of 2013''.

SEC. 2. CERTAIN PROVISIONS OF RENEWABLE ENERGY CREDIT MADE PERMANENT.

    (a) Wind.--Paragraph (1) of section 45(d) of the Internal Revenue 
Code of 1986 is amended by striking ``, and the construction of which 
begins before January 1, 2014''.
    (b) Geothermal.--Paragraph (4)(B) of section 45(d) of such Code is 
amended by striking ``the construction of which begins before January 
1, 2014'' and inserting ``is originally placed in service after October 
22, 2004''.
    (c) Hydropower.--Paragraph (9)(A) of section 45(d) of such Code is 
amended by striking ``and before January 1, 2014'' both places it 
appears in clauses (i) and (ii).
    (d) Marine.--Paragraph (11)(B) of section 45d of such Code is 
amended by striking ``and the construction of which begins before 
January 1, 2014''.
    (e) Conforming Amendment.--Section 45(d)(9) of such Code is amended 
by striking subparagraph (C).
    (f) Effective Date.--The amendments made by this section shall 
apply to property placed in service after December 31, 2013.

SEC. 3. REPEAL OF DEDUCTION FOR INTANGIBLE DRILLING AND DEVELOPMENT 
              COSTS IN THE CASE OF OIL AND GAS WELLS.

    (a) In General.--Subsection (c) of section 263 of the Internal 
Revenue Code of 1986 is amended by adding at the end the following new 
sentence: ``This subsection shall not apply to amounts paid or incurred 
in any taxable year beginning after December 31, 2013, by a taxpayer in 
the case of oil and gas wells.''.
    (b) Effective Date.--The amendment made by this section shall apply 
to amounts paid or incurred in taxable years beginning after December 
31, 2013.

SEC. 4. REPEAL OF DEDUCTION FOR OIL AND GAS INCOME ATTRIBUTABLE TO 
              DOMESTIC PRODUCTION ACTIVITIES.

    (a) In General.--Section 199(c)(4)(B) of the Internal Revenue Code 
of 1986 is amended by striking ``and'' at the end of clause (ii), by 
striking the period at the end of clause (iii) and inserting ``, and'', 
and by inserting after clause (iii) the following:
                            ``(iv) the production, refining, 
                        transportation, or distribution of oil, natural 
                        gas, or any primary product (within the meaning 
                        of section 927(a)(2)(C), as in effect before 
                        its repeal).''.
    (b) Conforming Amendment.--Section 199(d) of such Code is amended 
by striking paragraph (9).
    (c) Effective Date.--The amendments made by this section shall 
apply to taxable years beginning after December 31, 2013.

SEC. 5. REPEAL OF PERCENTAGE DEPLETION FOR OIL AND GAS.

    (a) In General.--Section 611(a) of the Internal Revenue Code of 
1986 is amended by striking ``oil and gas wells''.
    (b) Conforming Amendments.--
            (1) Section 613 of such Code is amended by adding at the 
        end the following:
    ``(f) Termination Relating to Oil and Gas.--This section shall not 
apply with respect to any oil or gas well in taxable years beginning 
after December 31, 2013.''.
            (2) Part I of subchapter I of chapter 1 of the Internal 
        Revenue Code of 1986 is amended by striking section 613A (and 
        by striking the item relating to such section in the table of 
        sections for such part).
    (c) Effective Date.--The amendments made by this section shall 
apply to taxable years beginning after December 31, 2013.
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