Summary: H.R.5289 — 114th Congress (2015-2016)All Information (Except Text)

There is one summary for H.R.5289. Bill summaries are authored by CRS.

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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.