[Congressional Bills 113th Congress]
[From the U.S. Government Publishing Office]
[H.R. 4785 Introduced in House (IH)]

113th CONGRESS
  2d Session
                                H. R. 4785

 To amend the Internal Revenue Code of 1986 to extend and improve the 
                   Indian coal production tax credit.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                              May 30, 2014

Mr. Daines (for himself and Mrs. Kirkpatrick) 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 and improve the 
                   Indian coal production tax credit.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. EXTENSION AND IMPROVEMENT OF INDIAN COAL PRODUCTION TAX 
              CREDIT.

    (a) Repeal of Limitation Based on Date Facility Is Placed in 
Service.--Section 45(d) of the Internal Revenue Code of 1986 is amended 
to read as follows:
            ``(10) Indian coal production facility.--The term `Indian 
        coal production facility' means a facility that produces Indian 
        coal.''.
    (b) Repeal of Limitation on Period During Which Coal Must Be 
Produced and Sold; Treatment of Sales to Related Parties.--Section 
45(e)(10)(A) of such Code is amended by striking ``per ton of Indian 
coal--'' and all that follows and inserting the following: ``per ton of 
Indian coal--
                            ``(i) produced by the taxpayer at an Indian 
                        coal production facility, and
                            ``(ii) sold (either directly by the 
                        taxpayer or after sale or transfer to one or 
                        more related persons) to an unrelated 
                        person.''.
    (c) Repeal of Limitation on Treatment as a Specified Credit.--
            (1) In general.--Section 38(c)(4)(B) of such Code is 
        amended by redesignating clauses (iv) through (ix) as clauses 
        (v) through (x), respectively, and by inserting after clause 
        (iii) the following new clause:
                            ``(iv) the credit determined under section 
                        45 to the extent that such credit is 
                        attributable to section 45(e)(10) (relating to 
                        Indian coal production facilities),''.
            (2) Conforming amendment.--Section 45(e)(10) of such Code 
        is amended by striking subparagraph (D).
    (d) Effective Date.--The amendments made by this section shall 
apply to coal produced and sold after the date of the enactment of this 
Act, in taxable years ending after such date.
                                 <all>