US SB1288 | 2019-2020 | 116th Congress
Status
Spectrum: Partisan Bill (Democrat 25-1)
Status: Introduced on May 2 2019 - 25% progression, died in committee
Action: 2019-05-02 - Read twice and referred to the Committee on Finance.
Pending: Senate Finance Committee
Text: Latest bill text (Introduced) [PDF]
Status: Introduced on May 2 2019 - 25% progression, died in committee
Action: 2019-05-02 - Read twice and referred to the Committee on Finance.
Pending: Senate Finance Committee
Text: Latest bill text (Introduced) [PDF]
Summary
Modifies,extends, or terminates several existing energy-related tax incentives to provide consolidated tax deductions and credits for the production of or investment in clean electricity, the production of clean transportation fuels, and energy efficient homes and commercial buildings. The new tax incentives are technology-neutral and the amounts of the credits or deductions vary based on the levels of carbon emissions for the incentives for electricity and fuels or energy efficiency in the case of the incentives for energy efficient homes and commercial buildings. The bill also establishes tax credits for certain bonds issued by a governmental body, a public power provider, or a cooperative electric company for facilities producing clean electricity or clean transportation fuels. The bill phases out the new tax incentives when annual greenhouse gas emissions in the United States have been reduced by specified percentages. In order to provide for a transition period for the new tax incentives, the bill temporarily extends several existing energy-related tax provisions. With respect to the existing qualifying advanced energy project credit, the Department of the Treasury must establish an additional qualifying advanced energy project program to consider and award certifications for qualified investments eligible for credits.
Title
Clean Energy for America Act
Sponsors
Sen. Ron Wyden [D-OR] | Sen. Charles Schumer [D-NY] | Sen. Debbie Stabenow [D-MI] | Sen. Maria Cantwell [D-WA] |
Sen. Robert Menendez [D-NJ] | Sen. Thomas Carper [D-DE] | Sen. Benjamin Cardin [D-MD] | Sen. Michael Bennet [D-CO] |
Sen. Sheldon Whitehouse [D-RI] | Sen. Margaret Hassan [D-NH] | Sen. Catherine Cortez Masto [D-NV] | Sen. Dianne Feinstein [D-CA] |
Sen. Richard Durbin [D-IL] | Sen. Amy Klobuchar [D-MN] | Sen. Jeanne Shaheen [D-NH] | Sen. Kirsten Gillibrand [D-NY] |
Sen. Richard Blumenthal [D-CT] | Sen. Brian Schatz [D-HI] | Sen. Mazie Hirono [D-HI] | Sen. Martin Heinrich [D-NM] |
Sen. Angus King [I-ME] | Sen. Tim Kaine [D-VA] | Sen. Cory Booker [D-NJ] | Sen. Chris Van Hollen [D-MD] |
Sen. Tina Smith [D-MN] | Sen. Gary Peters [D-MI] |
History
Date | Chamber | Action |
---|---|---|
2019-05-02 | Senate | Read twice and referred to the Committee on Finance. |
Subjects
Air quality
Alaska
Alternative and renewable resources
Business investment and capital
Capital gains tax
Climate change and greenhouse gases
Coal
Corporate finance and management
Electric power generation and transmission
Energy efficiency and conservation
Energy storage, supplies, demand
Environmental technology
Hybrid, electric, and advanced technology vehicles
Income tax credits
Income tax deductions
Lighting, heating, cooling
Motor fuels
Nuclear power
Oil and gas
Pipelines
Residential rehabilitation and home repair
Securities
Taxation
Taxation of foreign income
Alaska
Alternative and renewable resources
Business investment and capital
Capital gains tax
Climate change and greenhouse gases
Coal
Corporate finance and management
Electric power generation and transmission
Energy efficiency and conservation
Energy storage, supplies, demand
Environmental technology
Hybrid, electric, and advanced technology vehicles
Income tax credits
Income tax deductions
Lighting, heating, cooling
Motor fuels
Nuclear power
Oil and gas
Pipelines
Residential rehabilitation and home repair
Securities
Taxation
Taxation of foreign income
US Congress State Sources
Type | Source |
---|---|
Summary | https://www.congress.gov/bill/116th-congress/senate-bill/1288/all-info |
Text | https://www.congress.gov/116/bills/s1288/BILLS-116s1288is.pdf |