[Congressional Record Volume 166, Number 42 (Tuesday, March 3, 2020)]
[Senate]
[Pages S1327-S1328]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]
SA 1377. Ms. HASSAN (for herself and Ms. Collins) submitted an
amendment intended to be proposed by her to the bill S. 2657, to
support innovation in advanced geothermal research and development, and
for other purposes; which was ordered to lie on the table; as follows:
At the end, add the following:
TITLE IV--AMENDMENTS TO THE INTERNAL REVENUE CODE OF 1986
SEC. 4001. UPDATING CREDIT FOR NONBUSINESS ENERGY PROPERTY.
(a) In General.--Section 25C of the Internal Revenue Code
of 1986 is amended--
(1) in subsection (a)(1), by striking ``10 percent'' and
inserting ``15 percent'',
(2) in subsection (b)--
(A) in paragraph (1)--
(i) by striking ``$500'' and inserting ``$1,200'', and
(ii) by striking ``December 31, 2005'' and inserting
``December 31, 2020'', and
(B) by striking paragraphs (2) and (3) and inserting the
following:
``(2) Limitation on insulation material or system.--In the
case of amounts paid or incurred for components described in
subsection (c)(3)(A) by any taxpayer for any taxable year,
the credit allowed under this section with respect to such
amounts for such year shall not exceed the excess (if any) of
$600 over the aggregate credits allowed under this section
with respect to such amounts for all prior taxable years
ending after December 31, 2020.
``(3) Limitation on windows.--
``(A) In general.--
``(i) Energy star most efficient.--In the case of amounts
paid or incurred by any taxpayer for any taxable year for
components described in subsection (c)(3)(B) which meet the
most efficient certification under applicable Energy Star
program requirements, the credit allowed under this section
with respect to such amounts for such year shall not exceed
the excess (if any) of $600 over the aggregate credits
allowed under this section with respect to such amounts for
all prior taxable years ending after December 31, 2020.
``(ii) Energy star.--In the case of amounts paid or
incurred by any taxpayer for any taxable year for components
described in subsection (c)(3)(B) which do not meet the most
efficient certification under applicable Energy Star program
requirements, the credit allowed under this section with
respect to such amounts for such year shall not exceed the
excess (if any) of $200 over the aggregate credits allowed
under this section with respect to such amounts for all prior
taxable years ending after December 31, 2020.
``(B) Election.--
``(i) In general.--For purposes of any amounts paid or
incurred by any taxpayer for components described in
subsection (c)(3)(B), the credit allowed under this section
shall only be allowed for components described in clause (i)
of subparagraph (A) or clause (ii) of such subparagraph, but
not both, as elected by the taxpayer during the first taxable
year in which such credit is being claimed by the taxpayer.
``(ii) Irrevocability.--The Secretary shall, through such
rules, regulations, and procedures as are determined
appropriate, establish procedures for making an election
under this subparagraph, which shall require that--
``(I) any election made by the taxpayer shall be
irrevocable, and
``(II) such election shall remain in effect for all
subsequent taxable years.
``(4) Limitation on doors.--In the case of amounts paid or
incurred for components described in subsection (c)(3)(C) by
any taxpayer for any taxable year, the credit allowed under
this section with respect to such amounts for such year shall
not exceed--
``(A) the excess (if any) of $500 over the aggregate
credits allowed under this section with respect to such
amounts for all prior taxable years ending after December 31,
2020, or
``(B) $250 for each exterior door.
``(5) Limitation on residential energy property
expenditures.--The amount of the credit allowed under this
section by reason of subsection (a)(2) shall not exceed--
``(A) in the case of any energy-efficient building
property--
``(i) for any item of property described in subparagraph
(A), (B), or (C) of subsection (d)(3), $600, and
``(ii) for any item of property described in subparagraph
(D) or (E) of such subsection, $400, and
``(B) in the case of any qualified natural gas, propane, or
oil furnace or hot water boiler (as defined in subsection
(d)(4)), an amount equal to--
``(i) $600 for a hot water boiler, and
``(ii) in the case of a furnace, an amount equal to the sum
of--
``(I) $300, plus
``(II) if the taxpayer is converting from a non-condensing
furnace to a condensing furnace, $300.'',
(3) in subsection (c)--
(A) in paragraph (2)--
(i) by striking subparagraphs (A) and (B) and inserting the
following:
``(A) applicable Energy Star program requirements, in the
case of an exterior window, a skylight, or an exterior door,
and'',
(ii) by redesignating subparagraph (C) as subparagraph (B),
and
(iii) in subparagraph (B), as so redesignated, by striking
``2009 International'' and all that follows through ``Act of
2009'' and inserting ``2015 IECC (as defined in section
45L(b)(5))'',
(B) in paragraph (3)--
(i) in subparagraph (B), by adding ``and'' at the end,
(ii) in subparagraph (C), by striking ``, and'' and
inserting a period, and
(iii) by striking subparagraph (D), and
(C) by adding at the end the following new paragraph:
``(5) Labor costs.--The term `qualified energy efficiency
improvements' includes expenditures for labor costs properly
allocable to the onsite preparation, assembly, or original
installation of any energy efficient building envelope
component.'',
(4) in subsection (d)--
(A) in paragraph (2)(A)--
(i) in clause (i), by adding ``or'' at the end,
(ii) in clause (ii), by striking ``, or'' and inserting a
period, and
(iii) by striking clause (iii),
(B) in paragraph (3)--
(i) by striking subparagraph (A) and inserting the
following:
``(A) an electric heat pump water heater which, in the
standard Department of Energy test procedure, yields a
uniform energy factor of at least 3.0,'',
(ii) in subparagraph (B), by striking ``January 1, 2009''
and inserting ``the date of enactment of the American Energy
Innovation Act of 2020'',
(iii) in subparagraph (C), by striking ``January 1, 2009''
and inserting ``the date of enactment of the American Energy
Innovation Act of 2020'',
(iv) by striking subparagraph (D) and inserting the
following:
``(D) a natural gas, propane, or oil water heater which, in
the standard Department of Energy test procedure, yields--
``(i) in the case of a storage tank water heater--
``(I) in the case of a medium-draw water heater, a uniform
energy factor of not less than 0.78, and
``(II) in the case of a high-draw water heater, a uniform
energy factor of not less than 0.80, and
``(ii) in the case of a tankless water heater--
``(I) in the case of a medium-draw water heater, a uniform
energy factor of not less than 0.87, and
``(II) in the case of a high-draw water heater, a uniform
energy factor of not less than 0.90, and'', and
(v) in subparagraph (E), by striking ``of at least 75
percent'' and inserting the following: ``(as determined
pursuant to the applicable list published by the
Environmental Protection Agency for certified wood stoves,
hydronic heaters, or forced-air furnaces) of at least--
``(i) in the case of any stove placed in service before
January 1, 2022, 73 percent, and
``(ii) in the case of any stove placed in service after
December 31, 2021, 75 percent.'',
(C) in paragraph (4), by striking ``not less than 95'' and
inserting the following: ``not less than--
``(A) in the case of a furnace, 97 percent, and
``(B) in the case of a hot water boiler, 95 percent.'',
(D) by striking paragraph (5), and
(E) by redesignating paragraph (6) as paragraph (5),
(5) in subsection (e), by adding the following new
paragraphs at the end:
``(4) Installation standards.--The terms `energy efficient
building envelope component' and `qualified energy property'
shall not include any components or property which are not
installed according to any applicable Air Conditioning
Contractors of America Quality Installation standards which
are in effect at the time that such components or property
are placed in service.
``(5) Replacement of terminated standards.--In the case of
any standard, requirement, or criteria applicable to any
energy efficient building envelope component or
[[Page S1328]]
qualified energy property which is terminated after the date
of enactment of the American Energy Innovation Act of 2020,
the Secretary, in consultation with the Secretary of Energy,
shall identify a similar standard, requirement, or criteria
for purposes of determining the eligibility of any such
component or property for purposes of credit allowed under
this section.'', and
(6) in subsection (g)(2), by striking ``December 31, 2020''
and inserting ``December 31, 2027''.
(b) Effective Date.--The amendments made by this section
shall apply to property placed in service after December 31,
2020.
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