H.R.4407 - Biomass Energy Equity Act of 1998105th Congress (1997-1998)
|Sponsor:||Rep. Herger, Wally [R-CA-2] (Introduced 08/05/1998)|
|Committees:||House - Ways and Means|
|Latest Action:||08/05/1998 Referred to the House Committee on Ways and Means.|
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Text: H.R.4407 — 105th Congress (1997-1998)All Bill Information (Except Text)
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Introduced in House (08/05/1998)
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[Congressional Bills 105th Congress] [From the U.S. Government Printing Office] [H.R. 4407 Introduced in House (IH)] 105th CONGRESS 2d Session H. R. 4407 To amend the Internal Revenue Code of 1986 to provide that the credit for electricity produced from certain renewable resources shall apply to electricity produced from all biomass facilities and to extend the placed in service deadline for such credit. _______________________________________________________________________ IN THE HOUSE OF REPRESENTATIVES August 5, 1998 Mr. Herger (for himself, Mr. Matsui, Mr. Ensign, Mr. McCrery, Mr. McDermott, Mrs. Thurman, Mr. Smith of Oregon, Mr. Pombo, Mr. Hunter, Mr. Dooley of California, Mr. Gibbons, and Mr. Blumenauer) introduced the following bill; which was referred to the Committee on Ways and Means _______________________________________________________________________ A BILL To amend the Internal Revenue Code of 1986 to provide that the credit for electricity produced from certain renewable resources shall apply to electricity produced from all biomass facilities and to extend the placed in service deadline for such credit. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, SECTION 1. SHORT TITLE. This Act may be cited as the ``Biomass Energy Equity Act of 1998''. SEC. 2. MODIFICATIONS TO CREDIT FOR ELECTRICITY PRODUCED FROM RENEWABLE RESOURCES. (a) Qualified Facilities Include All Biomass Facilities.-- (1) In general.--Subparagraph (B) of section 45(c)(1) of the Internal Revenue Code of 1986 (relating to credit for electricity produced from certain renewable resources) is amended to read as follows: ``(B) biomass.''. (2) Biomass defined.--Paragraph (2) of section 45(c) of such Code is amended to read as follows: ``(2) Biomass.--The term `biomass' means-- ``(A) any organic material from a plant which is planted exclusively for purposes of being used at a qualified facility to produce electricity, and ``(B) any solid, nonhazardous, cellulosic waste material, which is segregated from other waste materials, and which is derived from-- ``(i) any of the following forest-related resources: mill residues, precommercial thinnings, slash, and brush, but not including old-growth timber, ``(ii) urban sources, including waste pallets, crates, and dunnage, manufacturing and construction wood wastes, and landscape or right-of-way tree trimmings, but not including unsegregated municipal solid waste (garbage), or ``(iii) agriculture sources, including orchard tree crops, vineyard, grain, legumes, sugar, and other crop by-products or residues.'' (b) Extension and Modification of Placed in Service Rules.-- Paragraph (3) of section 45(c) of such Code is amended to read as follows: ``(3) Qualified facility.-- ``(A) Wind facilities.--In the case of a facility using wind to produce electricity, the term `qualified facility' means any facility owned by the taxpayer which is originally placed in service after December 31, 1993, and before July 1, 2008. ``(B) Biomass facilities.--In the case of a facility using biomass to produce electricity, the term `qualified facility' means, with respect to any month, any facility owned by the taxpayer which is originally placed in service before July 1, 2008, if, for such month, biomass comprises not less than 75 percent (on a Btu basis) of the average monthly fuel input of the facility for the taxable year which includes such month. ``(C) Special rules.--In the case of a qualified facility described in subparagraph (B)-- ``(i) the 10-year period referred to in subsection (a) shall be treated as beginning no earlier than the date of the enactment of this paragraph, and ``(ii) subsection (b)(3) shall not apply to any such facility originally placed in service before January 1, 1993.'' (c) Effective Date.--The amendments made by this section shall apply to electricity produced after the date of the enactment of this Act. <all>