US Congress Senate Bill 1516 (Prior Session Legislation)

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Sponsorship: Bipartisan Bill
Status: Introduced on June 4 2015 - 25% progression, died in committee
Action: 2015-06-04 - Read twice and referred to the Committee on Finance. (Sponsor introductory remarks on measure: CR S3779-3780)
Pending: Senate Finance Committee
Text: Latest bill text (Introduced) [PDF]

POWER Act Power Efficiency and Resiliency Act Amends the Internal Revenue Code to: (1) allow a 30% energy tax credit for combined heat and power system property and increase the capacity limitations for such property, (2) extend until December 31, 2018, the placed-in-service deadline for such property, and (3) allow a 30% energy tax credit for waste heat to power property (property comprising a system generating electricity through the recovery of a qualified waste heat resource) placed in service before January 1, 2019. Includes within the definition of "qualified waste heat resource": (1) exhaust heat or flared gas from any industrial process; (2) waste gas or industrial tail gas that would otherwise be flared, incinerated, or vented; and (3) a pressure drop in any gas for an industrial or commercial process. Excludes from such definition any heat resource from a process the primary purpose of which is the generation of electricity utilizing a fossil fuel or nuclear energy.

POWER Act Power Efficiency and Resiliency Act

Sen. Susan Collins [R-ME]

Sen. Robert Casey [D-PA]

Sen. Harry Reid [D-NV]

Sen. Angus King [I-ME]

Date	Chamber	Action
2015-06-04	Senate	Read twice and referred to the Committee on Finance. (Sponsor introductory remarks on measure: CR S3779-3780)

HB2657 (Same As) 2015-06-04 - Referred to the House Committee on Ways and Means.

Type	Source
Summary	https://www.congress.gov/bill/114th-congress/senate-bill/1516/all-info
Text	https://www.congress.gov/114/bills/s1516/BILLS-114s1516is.pdf