[Congressional Record Volume 166, Number 42 (Tuesday, March 3, 2020)]
[Senate]
[Pages S1407-S1408]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]

  SA 1414. Ms. CORTEZ MASTO 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. EXTENSION AND PHASEOUT OF ENERGY CREDIT.

       (a) Extensions.--Section 48 of the Internal Revenue Code of 
     1986 is amended--
       (1) in subsection (a)--
       (A) in paragraph (2)(A)(i)(II), by striking ``January 1, 
     2022'' and inserting ``January 1, 2027''; and
       (B) in paragraph (3)(A)--
       (i) in clause (ii), by striking ``January 1, 2022'' and 
     inserting ``January 1, 2027''; and
       (ii) in clause (vii), by striking ``January 1, 2022'' and 
     inserting ``January 1, 2027''; and
       (2) in subsection (c)--
       (A) in paragraph (1)(D), by striking ``January 1, 2022'' 
     and inserting ``January 1, 2027'';
       (B) in paragraph (2)(D), by striking ``January 1, 2022'' 
     and inserting ``January 1, 2027'';
       (C) in paragraph (3)(A)(iv), by striking ``January 1, 
     2022'' and inserting ``January 1, 2027''; and
       (D) in paragraph (4)(C), by striking ``January 1, 2022'' 
     and inserting ``January 1, 2027''.

[[Page S1408]]

       (b) Phaseouts.--
       (1) Solar energy property.--Section 48(a)(6) of the 
     Internal Revenue Code of 1986 is amended--
       (A) in subparagraph (A)--
       (i) by striking ``January 1, 2022, the energy percentage'' 
     and inserting ``January 1, 2027, the energy percentage'';
       (ii) in clause (i), by striking ``after December 31, 2019, 
     and before January 1, 2021'' and inserting ``after December 
     31, 2024, and before January 1, 2026''; and
       (iii) in clause (ii), by striking ``after December 31, 
     2020, and before January 1, 2022'' and inserting ``after 
     December 31, 2025, and before January 1, 2027''; and
       (B) in subparagraph (B), by striking ``begins before 
     January 1, 2022, and which is not placed in service before 
     January 1, 2024'' and inserting ``begins before January 1, 
     2027, and which is not placed in service before January 1, 
     2029''.
       (2) Fiber-optic solar, qualified fuel cell, and qualified 
     small wind energy property.--Section 48(a)(7) of such Code is 
     amended--
       (A) in subparagraph (A)--
       (i) in clause (i), by striking ``after December 31, 2019, 
     and before January 1, 2021'' and inserting ``after December 
     31, 2024, and before January 1, 2026''; and
       (ii) in clause (ii), by striking ``after December 31, 2020, 
     and before January 1, 2022'' and inserting ``after December 
     31, 2025, and before January 1, 2027''; and
       (B) in subparagraph (B), by striking ``January 1, 2024'' 
     and inserting ``January 1, 2029''.
       (c) Effective Date.--The amendments made by this section 
     shall apply to periods after December 31, 2019.

     SEC. 4002. EXTENSION AND PHASEOUT OF CREDIT FOR RESIDENTIAL 
                   ENERGY EFFICIENT PROPERTY.

       (a) Applicable Percentage.--Subsection (g) of section 25D 
     of the Internal Revenue Code of 1986 is amended--
       (1) in paragraph (1), by striking ``January 1, 2020'' and 
     inserting ``January 1, 2025'';
       (2) in paragraph (2), by striking ``after December 31, 
     2019, and before January 1, 2021'' and inserting ``after 
     December 31, 2024, and before January 1, 2026''; and
       (3) in paragraph (3), by striking ``after December 31, 
     2020, and before January 1, 2022'' and inserting ``after 
     December 31, 2025, and before January 1, 2027''.
       (b) Termination.--Subsection (h) of section 25D of such 
     Code is amended by striking ``December 31, 2021'' and 
     inserting ``December 31, 2026''.
       (c) Effective Date.--The amendments made by this section 
     shall apply to property placed in service after December 31, 
     2019.
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