[Congressional Record Volume 162, Number 54 (Monday, April 11, 2016)]
[Senate]
[Page S1860]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]

  SA 3569. Ms. COLLINS (for herself and Mr. Casey) submitted an 
amendment intended to be proposed to amendment SA 3464 submitted by Mr. 
Thune (for himself and Mr. Nelson) to the bill H.R. 636, to amend the 
Internal Revenue Code of 1986 to permanently extend increased expensing 
limitations, and for other purposes; which was ordered to lie on the 
table; as follows:

       At the appropriate place, insert the following:

     SEC. ____. MODIFICATIONS IN CREDIT FOR COMBINED HEAT AND 
                   POWER SYSTEM PROPERTY.

       (a) Increased Energy Percentage.--Clause (i) of section 
     48(a)(2)(A) of the Internal Revenue Code of 1986 is amended 
     by striking ``and'' at the end of subclause (III), by 
     redesignating subclause (IV) as subclause (V), and by 
     inserting after subclause (III) the following new subclause:

       ``(IV) energy property described in paragraph (3)(A)(v), 
     and''.

       (b) Modification of Certain Capacity Limitations.--Section 
     48(c)(3)(B) of the Internal Revenue Code of 1986 is amended--
       (1) by striking ``15 megawatts'' in clause (ii) and 
     inserting ``25 megawatts'',
       (2) by striking ``20,000 horsepower'' in clause (ii) and 
     inserting ``34,000 horsepower'', and
       (3) by striking clause (iii).
       (c) Extension of Credit for Combined Heat and Power System 
     Property.--Section 48(c)(3)(A)(iv) of the Internal Revenue 
     Code of 1986 is amended by striking ``January 1, 2017'' and 
     inserting ``January 1, 2022''.
       (d) Effective Date.--
       (1) In general.--Except as provided in paragraph (2), the 
     amendments made by this section shall apply to periods after 
     the date of the enactment of this Act, 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).
       (2) Extension of credit.--The amendment made by subsection 
     (c) shall apply to property placed in service after December 
     31, 2016.

     SEC. ____. ENERGY CREDIT FOR WASTE HEAT TO POWER 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 adding at the end the following 
     new clause:
       ``(viii) waste heat to power property,''.
       (b) Waste Heat To Power Property.--Subsection (c) of 
     section 48 of the Internal Revenue Code of 1986 is amended by 
     adding at the end the following new paragraph:
       ``(5) Waste heat to power property.--
       ``(A) Waste heat to power property.--The term `waste heat 
     to power property' means property comprising a system which 
     generates electricity through the recovery of a qualified 
     waste heat resource.
       ``(B) Qualified waste heat resource defined.--The term 
     `qualified waste heat resource' means--
       ``(i) exhaust heat or flared gas from any industrial 
     process,
       ``(ii) waste gas or industrial tail gas that would 
     otherwise be flared, incinerated, or vented,
       ``(iii) a pressure drop in any gas for an industrial or 
     commercial process, or
       ``(iv) such other forms of waste heat resources as the 
     Secretary may determine.
       ``(C) Exception.--The term `qualified waste heat resource' 
     does not include any heat resource from a process whose 
     primary purpose is the generation of electricity utilizing a 
     fossil fuel or nuclear energy.
       ``(D) Termination.--The term `waste heat to power property' 
     shall not include any property placed in service after 
     December 31, 2021.''.
       (c) Increased Energy Percentage.--Clause (i) of section 
     48(a)(2)(A) of the Internal Revenue Code of 1986, as amended 
     by this Act, is further amended by striking ``and'' at the 
     end of subclause (IV) and inserting after the new subclause 
     (V) the following new subclause:

       ``(VI) energy property described in paragraph (3)(A)(viii), 
     and''.

       (d) Effective Date.--The amendments made by this section 
     shall apply to periods after the date of the enactment of 
     this Act, 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).
                                 ______