Text: H.R.4186 — 116th Congress (2019-2020)All Information (Except Text)

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Introduced in House (08/13/2019)


116th CONGRESS
1st Session
H. R. 4186


To amend the Internal Revenue Code of 1986 to modify the credit for electricity produced from certain renewable resources and the investment credit for certain qualified investment credit facilities.


IN THE HOUSE OF REPRESENTATIVES

August 13, 2019

Ms. Stefanik (for herself and Mr. Peters) 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 modify the credit for electricity produced from certain renewable resources and the investment credit for certain qualified investment credit facilities.

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 Electricity Tax Credit Equalization Act”.

SEC. 2. Extension of credit for qualified investment credit facilities.

(a) In general.—Section 48(a)(5)(C)(ii) of the Internal Revenue Code of 1986 is amended to read as follows:

“(ii) which is placed in service after 2008 and the construction of which begins before January 1, 2018 (January 1, 2020, in the case of any facility which is described in paragraph (1) of section 45(d) or January 1, 2025, in the case of any facility which is described in paragraph (2), (3), (4), (6), (7), (9) or (11) of section 45(d)), and”.

(b) Effective date.—The amendments made by this section shall apply to facilities the construction of which begins after December 31, 2017.

SEC. 3. Extension and modification of production credits for certain facilities.

(a) Extension of credit.—Paragraphs (2), (3), (4), (6), (7), (9), and (11) of section 45(d) of the Internal Revenue Code of 1986 are each amended by striking “January 1, 2018” and inserting “January 1, 2025”.

(b) Full credit allowed for certain facilities.—Section 45(b)(4)(A) of such Code is amended by inserting “and the construction of which began before the date of the enactment of the Renewable Electricity Tax Credit Equalization Act” after “subsection (d)”.

(c) Effective dates.—

(1) EXTENSION.—The amendments made by subsection (a) shall apply to facilities the construction of which begins after December 31, 2017.

(2) ALLOWANCE OF FULL CREDIT.—The amendment made by subsection (b) shall apply to facilities the construction of which begins on or after the date of the enactment of this Act.