H.R.5289 - Energy Tax Fairness Act of 2016114th Congress (2015-2016)
|Sponsor:||Rep. Stivers, Steve [R-OH-15] (Introduced 05/19/2016)|
|Committees:||House - Ways and Means|
|Latest Action:||House - 05/19/2016 Referred to the House Committee on Ways and Means. (All Actions)|
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Summary: H.R.5289 — 114th Congress (2015-2016)All Information (Except Text)
Introduced in House (05/19/2016)
Energy Tax Fairness Act of 2016
This bill amends the Internal Revenue Code to expand the tax credit for investment in energy property to include qualified high-efficiency linear generator property.
A stationary linear generator power plant is an integrated system consisting of translators, cylinders, electricity generating equipment, and associated balance of plant components which converts a fuel or waste heat into electricity for stationary applications. Qualified high-efficiency linear generator property is a stationary linear generator power plant which has: (1) a nameplate capacity of less than 2,000 kilowatts, and (2) an electricity-only generation efficiency of greater than 30%.
For high-efficiency linear generator property that is placed in service during the taxable year, the credit for the year may not exceed $1,500 for each 0.5 kilowatt of capacity of the property.