[Congressional Record Volume 152, Number 31 (Monday, March 13, 2006)]
[Senate]
[Pages S2034-S2036]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]

      By Mr. GRASSLEY (for himself, Mr. Kyl, Mr. Cornyn, Mr. DeWine, 
        and Mr. Graham):
  S. 2402. A bill to improve the prohibitions on money laundering, and 
for

[[Page S2035]]

other purposes; to the Committee on the Judiciary.
  Mr. GRASSLEY. Mr. President, I ask unanimous consent that the text of 
a bill introduced by me today that may be cited as the ``Alternative 
Energy Extender Act'' be printed in the Record.
  There being no objection, the text of the bill was ordered to be 
printed in the Record, as follows:

                                S. 2401

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

     SECTION 1. SHORT TITLE; TABLE OF CONTENTS.

       (a) Short Title.--This Act may be cited as the 
     ``Alternative Energy Extender Act''.
       (b) Table of Contents.--The table of contents of this Act 
     is as follows:

Sec. 1. Short title; table of contents.

             TITLE I--ENERGY INFRASTRUCTURE TAX INCENTIVES

Sec. 101. Extension of credit for electricity produced from certain 
              renewable resources.
Sec. 102. Extension and expansion of credit to holders of clean 
              renewable energy bonds.
Sec. 103. Extension and expansion of qualifying advanced coal project 
              credit.
Sec. 104. Extension and expansion of qualifying gasification project 
              credit.

                TITLE II--DOMESTIC FOSSIL FUEL SECURITY

Sec. 201. Extension of election to expense certain refineries.

        TITLE III--CONSERVATION AND ENERGY EFFICIENCY PROVISIONS

Sec. 301. Extension of energy efficient commercial buildings deduction.
Sec. 302. Extension of new energy efficient home credit.
Sec. 303. Extension of residential energy efficient property credit.
Sec. 304. Extension of credit for business installation of qualified 
              fuel cells and stationary microturbine power plants.
Sec. 305. Extension of business solar investment tax credit.

          TITLE IV--ALTERNATIVE FUELS AND VEHICLES INCENTIVES

Sec. 401. Extension of excise tax provisions, income tax credits, and 
              tariff duties.

             TITLE I--ENERGY INFRASTRUCTURE TAX INCENTIVES

     SEC. 101. EXTENSION OF CREDIT FOR ELECTRICITY PRODUCED FROM 
                   CERTAIN RENEWABLE RESOURCES.

       Section 45(d) of the Internal Revenue Code of 1986 
     (relating to qualified facilities) is amended by striking 
     ``2008'' each place it appears and inserting ``2011''.

     SEC. 102. EXTENSION AND EXPANSION OF CREDIT TO HOLDERS OF 
                   CLEAN RENEWABLE ENERGY BONDS.

       (a) In General.--Section 54(m) of the Internal Revenue Code 
     of 1986 (relating to termination) is amended by striking 
     ``2007'' and inserting ``2010''.
       (b) Annual Volume Cap for Bonds Issued During Extension 
     Period.--Paragraph (1) of section 54(f) of the Internal 
     Revenue Code of 1986 (relating to limitation on amount of 
     bonds designated) is amended to read as follows:
       ``(1) National limitation.--
       ``(A) Initial national limitation.--With respect to bonds 
     issued after December 31, 2005, and before January 1, 2008, 
     there is a national clean renewable energy bond limitation of 
     $800,000,000.
       ``(B) Annual national limitation.--With respect to bonds 
     issued after December 31, 2007, and before January 1, 2011, 
     there is a national clean renewable energy bond limitation 
     for each calendar year of $800,000,000.''.
       (c) Effective Date.--The amendments made by this section 
     shall apply to bonds issued after the date of the enactment 
     of this Act.

     SEC. 103. EXTENSION AND EXPANSION OF QUALIFYING ADVANCED COAL 
                   PROJECT CREDIT.

       (a) In General.--Section 48A(d)(3)(A) of the Internal 
     Revenue Code of 1986 (relating to aggregate credits) is 
     amended by striking ``$1,300,000,000'' and inserting 
     ``$1,800,000,000''.
       (b) Authorization of Additional Integrated Gasification 
     Combined Cycle Projects.--Subparagraph (B) of section 
     48A(d)(3) of te Internal Revenue Code of 1986 (relating to 
     aggregate credits) is amended to read as follows:
       ``(B) Particular projects.--Of the dollar amount in 
     subparagraph (A), the Secretary is authorized to certify--
       ``(i) $800,000,000 for integrated gasification combined 
     cycle projects the application for which is submitted during 
     the period described in paragraph (2)(A)(i),
       ``(ii) $500,000,000 for projects which use other advanced 
     coal-based generation technologies the application for which 
     is submitted during the period described in paragraph 
     (2)(A)(i), and
       ``(iii) $500,000,000 for integrated gasification combined 
     cycle projects the application for which is submitted during 
     the period described in paragraph (2)(A)(ii).''.
       (c) Application Period for Additional Projects.--
     Subparagraph (A) of section 48A(d)(2) of the Internal Revenue 
     Code of 1986 (relating to certification) is amended to read 
     as follows:
       ``(A) Application period.--Each applicant for certification 
     under this paragraph shall submit an application meeting the 
     requirements of subparagraph (B). An applicant may only 
     submit an application--
       ``(i) for an allocation from the dollar amount specified in 
     clause (i) or (ii) of paragraph (3)(A) during the 3-year 
     period beginning on the date the Secretary establishes the 
     program under paragraph (1), and
       ``(ii) for an allocation from the dollar amount specified 
     in paragraph (3)(A)(iii) during the 3-year period beginning 
     at the termination of the period described in clause (i).''.
       (d) Effective Date.--The amendments made by this section 
     shall take effect as if included in the amendments made by 
     section 1307 of the Energy Policy Act of 2005.

     SEC. 104. EXTENSION AND EXPANSION OF QUALIFYING GASIFICATION 
                   PROJECT CREDIT.

       (a) In General.--Section 48B(d)(1) of the Internal Revenue 
     Code of 1986 (relating to qualifying gasification project 
     program) is amended by striking ``$350,000,000'' and 
     inserting ``$850,000,000''.
       (b) Effective Date.--The amendment made by this section 
     shall take effect as if included in the amendments made by 
     section 1307 of the Energy Policy Act of 2005.

                TITLE II--DOMESTIC FOSSIL FUEL SECURITY

     SEC. 201. EXTENSION OF ELECTION TO EXPENSE CERTAIN 
                   REFINERIES.

       (a) In General.--Section 179C(c)(1) of the Internal Revenue 
     Code of 1986 (defining qualified refinery property) is 
     amended--
       (1) by striking ``and before January 1, 2012'' in 
     subparagraph (B) and inserting ``and, in the case of any 
     qualified refinery described in subsection (d)(1), before 
     January 1, 2012'', and
       (2) by inserting ``if described in subsection (d)(1)'' 
     after ``of which'' in subparagraph (F)(i).
       (b) Conforming Amendment.--Subsection (d) of section 179C 
     of the Internal Revenue Code of 1986 is amended to read as 
     follows:
       ``(d) Qualified Refinery.--For purposes of this section, 
     the term `qualified refinery' means any refinery located in 
     the United States which is designed to serve the primary 
     purpose of processing liquid fuel from--
       ``(1) crude oil, or
       ``(2) qualified fuels (as defined in section 45K(c)).''.
       (c) Effective Date.--The amendments made by this section 
     shall take effect as if included in the amendment made by 
     section 1323(a) of the Energy Policy Act of 2005.

        TITLE III--CONSERVATION AND ENERGY EFFICIENCY PROVISIONS

     SEC. 301. EXTENSION OF ENERGY EFFICIENT COMMERCIAL BUILDINGS 
                   DEDUCTION.

       Section 179D(h) of the Internal Revenue Code of 1986 
     (relating to termination) is amended by striking ``2007'' and 
     inserting ``2010''.

     SEC. 302. EXTENSION OF NEW ENERGY EFFICIENT HOME CREDIT.

       (a) In General.--Subsection (g) of section 45L of the 
     Internal Revenue Code of 1986 (relating to new energy 
     efficient home credit) is amended to read as follows:
       ``(g) Termination.--This section shall not apply to--
       ``(1) any qualified new energy efficient home meeting the 
     energy saving requirements of subsection (c)(1) acquired 
     after December 31, 2010, and
       ``(2) any qualified new energy efficient home meeting the 
     energy saving requirements of paragraph (2) or (3) of 
     subsection (c) acquired after December 31, 2007.''.
       (b) Effective Date.--The amendment made by this section 
     shall take effect as if included in the amendments made by 
     section 1332 of the Energy Policy Act of 2005.

     SEC. 303. EXTENSION OF RESIDENTIAL ENERGY EFFICIENT PROPERTY 
                   CREDIT.

       Section 25D(g) of the Internal Revenue Code of 1986 
     (relating to termination) is amended by striking ``2007'' and 
     inserting ``2010''.

     SEC. 304. EXTENSION OF CREDIT FOR BUSINESS INSTALLATION OF 
                   QUALIFIED FUEL CELLS AND STATIONARY 
                   MICROTURBINE POWER PLANTS.

       Sections 48(c)(1)(E) and 48(c)(2)(E) of the Internal 
     Revenue Code of 1986 (relating to termination) are each 
     amended by striking ``2007'' and inserting ``2010''.

     SEC. 305. EXTENSION OF BUSINESS SOLAR INVESTMENT TAX CREDIT.

       Sections 48(a)(2)(A)(i)(II) and 48(a)(3)(A)(ii) of the 
     Internal Revenue Code of 1986 (relating to termination) are 
     each amended by striking ``2008'' and inserting ``2011''.

          TITLE IV--ALTERNATIVE FUELS AND VEHICLES INCENTIVES

     SEC. 401. EXTENSION OF EXCISE TAX PROVISIONS, INCOME TAX 
                   CREDITS, AND TARIFF DUTIES.

       (a) Biodiesel.--Sections 40A(g), 6426(c)(6), and 
     6427(e)(5)(B) of the Internal Revenue Code of 1986 are each 
     amended by striking ``2008'' and inserting ``2010''.
       (b) Alternative Fuel.--
       (1) Fuels.--Sections 6426(d)(4) and 6427(e)(5)(C) of the 
     Internal Revenue Code of 1986 are each amended by striking 
     ``September 30, 2009'' and inserting ``December 31, 2010''.
       (2) Refueling property.--Section 30C(g) of such Code is 
     amended by striking ``2009'' and inserting ``2010''.
       (c) Ethanol Tariff Schedule.--Headings 9901.00.50 and 
     9901.00.52 of the Harmonized

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     Tariff Schedule of the United States (19 U.S.C. 3007) are 
     each amended in the effective period column by striking ``10/
     1/2007'' each place it appears and inserting ``1/1/2011''.
       (d) Effective Date.--The amendments made by this section 
     shall take effect on January 1, 2007.

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