Text: H.R.5612 — 111th Congress (2009-2010)All Bill Information (Except Text)

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Introduced in House (06/28/2010)


111th CONGRESS
2d Session
H. R. 5612

To amend the Internal Revenue Code of 1986 to temporarily increase the investment tax credit for geothermal energy property.


IN THE HOUSE OF REPRESENTATIVES
June 28, 2010

Mr. Blumenauer (for himself, Mr. Thompson of California, Ms. Berkley, Ms. Giffords, Mr. McDermott, and Mr. Garamendi) 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 temporarily increase the investment tax credit for geothermal energy property.

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 “Geothermal Energy Investment Act of 2010”.

SEC. 2. Temporary increase in investment tax credit for geothermal energy property.

(a) In general.—Subclause (II) of section 48(a)(2)(A)(i) of the Internal Revenue Code of 1986 is amended by striking “paragraph (3)(A)(i)” and inserting “clause (i) or (iii) of paragraph (3)(A)”.

(b) Effective date.—The amendment 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).