[Congressional Record Volume 161, Number 11 (Thursday, January 22, 2015)]
[Senate]
[Pages S433-S434]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]

  SA 109. Mr. KING (for himself and Ms. Collins) submitted an amendment 
intended to be proposed to amendment SA 2 proposed by Ms. Murkowski 
(for herself, Mr. Hoeven, Mr. Barrasso, Mr. Risch, Mr. Lee, Mr. Flake, 
Mr. Daines, Mr. Manchin, Mr. Cassidy, Mr. Gardner, Mr. Portman, Mr. 
Alexander, and Mrs. Capito) to the bill S. 1, to approve the Keystone 
XL Pipeline; which was ordered to lie on the table; as follows:

       At the appropriate place, insert the following:

     SEC. 3. RESIDENTIAL ENERGY-EFFICIENT PROPERTY CREDIT FOR 
                   BIOMASS FUEL PROPERTY EXPENDITURES.

       (a) Allowance of Credit.--Subsection (a) of section 25D of 
     the Internal Revenue Code of 1986 is amended--
       (1) by striking ``and'' at the end of paragraph (4),
       (2) by striking the period at the end of paragraph (5) and 
     inserting ``, and'', and
       (3) by adding at the end the following new paragraph:
       ``(6) 30 percent of the qualified biomass fuel property 
     expenditures made by the taxpayer during such year.''.

[[Page S434]]

       (b) Qualified Biomass Fuel Property Expenditures.--
     Subsection (d) of section 25D of the Internal Revenue Code of 
     1986 is amended by adding at the end the following new 
     paragraph:
       ``(6) Qualified biomass fuel property expenditure.--
       ``(A) In general.--The term `qualified biomass fuel 
     property expenditure' means an expenditure for property--
       ``(i) which uses the burning of biomass fuel to heat a 
     dwelling unit located in the United States and used as a 
     residence by the taxpayer, or to heat water for use in such a 
     dwelling unit, and
       ``(ii) which has a thermal efficiency rating of at least 75 
     percent (measured by the higher heating value of the fuel).
       ``(B) Biomass fuel.--For purposes of this section, the term 
     `biomass fuel' means any plant-derived fuel available on a 
     renewable or recurring basis, including agricultural crops 
     and trees, wood and wood waste and residues, plants 
     (including aquatic plants), grasses, residues, and fibers. 
     Such term includes densified biomass fuels such as wood 
     pellets.''.
       (c) Effective Date.--The amendments made by this section 
     shall apply to expenditures paid or incurred in taxable years 
     beginning after December 31, 2015.

     SEC. 4. INVESTMENT TAX CREDIT FOR BIOMASS HEATING PROPERTY.

       (a) In General.--Subparagraph (A) of section 48(a)(3) of 
     the Internal Revenue Code of 1986 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) open-loop biomass (within the meaning of section 
     45(c)(3)) heating property, including boilers or furnaces 
     which operate at thermal output efficiencies of not less than 
     65 percent (measured by the higher heating value of the fuel) 
     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, 2017,''.
       (b) 30 Percent and 15 Percent Credits.--
       (1) In general.--Subparagraph (A) of section 48(a)(2) of 
     the Internal Revenue Code of 1986 is amended--
       (A) by redesignating clause (ii) as clause (iii),
       (B) by inserting after clause (i) the following new clause:
       ``(ii) except as provided in clause (i)(V), 15 percent in 
     the case of energy property described in paragraph 
     (3)(A)(viii), and'', and
       (C) by inserting ``or (ii)'' after ``clause (i)'' in clause 
     (iii), as so redesignated.
       (2) Increased credit for greater efficiency.--Clause (i) of 
     section 48(a)(2)(A) 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) 
     which operates at a thermal output efficiency of not less 
     than 80 percent (measured by the higher heating value of the 
     fuel),''.

       (c) Effective Date.--The amendments made by this section 
     shall apply to periods after December 31, 2015, 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).
                                 ______