Text: H.R.3961 — 116th Congress (2019-2020)All Information (Except Text)

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Introduced in House (07/25/2019)


116th CONGRESS
1st Session
H. R. 3961


To amend the Internal Revenue Code of 1986 to provide for an extension of the energy credit and the credit for residential energy efficient property.


IN THE HOUSE OF REPRESENTATIVES

July 25, 2019

Mr. Thompson of California (for himself, Mr. Cook, Mr. Fitzpatrick, Mr. Pascrell, Ms. Norton, Mr. Suozzi, Ms. DelBene, Mrs. Murphy, Mr. Larson of Connecticut, Ms. Brownley of California, Mr. Panetta, Mr. Amodei, Ms. Matsui, Ms. Eshoo, Mr. Lowenthal, Mr. Huffman, Mr. Blumenauer, Mr. Gomez, Mr. Tonko, Mr. Higgins of New York, Mr. Danny K. Davis of Illinois, Ms. Shalala, Ms. Gabbard, Mr. Beyer, and Ms. Judy Chu of California) 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 for an extension of the energy credit and the credit for residential energy efficient 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 “Renewable Energy Extension Act of 2019”.

SEC. 2. 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”.

(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 take effect on January 1, 2020.

SEC. 3. 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.