US SB727 | 2015-2016 | 114th Congress
Status
Spectrum: Bipartisan Bill
Status: Introduced on March 12 2015 - 25% progression, died in committee
Action: 2015-03-12 - Read twice and referred to the Committee on Finance.
Pending: Senate Finance Committee
Text: Latest bill text (Introduced) [PDF]
Status: Introduced on March 12 2015 - 25% progression, died in committee
Action: 2015-03-12 - Read twice and referred to the Committee on Finance.
Pending: Senate Finance Committee
Text: Latest bill text (Introduced) [PDF]
Summary
BTU Act of 2015 Biomass Thermal Utilization Act of 2015 Amends the Internal Revenue Code to include 30% of qualified biomass fuel property expenditures made in taxable years beginning before 2021 in the residential energy efficient property tax credit. Defines "qualified biomass fuel property expenditure" as an expenditure for property which uses the burning of biomass fuel (a plant-derived fuel available on a renewable or recurring basis) to heat a dwelling used as a residence, or to heat water for use in such dwelling, and which has a thermal efficiency rating of at least 75%. Allows: (1) a 15% energy tax credit until 2021 for investment in open-loop biomass heating property, and (2) a 30% credit for boilers or furnaces that operate at thermal output efficiencies of at least 80% and provide thermal energy.
Title
BTU Act of 2015 Biomass Thermal Utilization Act of 2015
Sponsors
Sen. Angus King [I-ME] | Sen. Susan Collins [R-ME] | Sen. Jeanne Shaheen [D-NH] | Sen. Jeff Merkley [D-OR] |
Sen. Tammy Baldwin [D-WI] | Sen. Kelly Ayotte [R-NH] | Sen. Al Franken [D-MN] |
History
Date | Chamber | Action |
---|---|---|
2015-03-12 | Senate | Read twice and referred to the Committee on Finance. |
Same As/Similar To
HB1145 (Same As) 2015-02-26 - Referred to the House Committee on Ways and Means.
Subjects
Alternative and renewable resources
Energy efficiency and conservation
Income tax credits
Lighting and heating
Residential rehabilitation and home repair
Taxation
Energy efficiency and conservation
Income tax credits
Lighting and heating
Residential rehabilitation and home repair
Taxation
US Congress State Sources
Type | Source |
---|---|
Summary | https://www.congress.gov/bill/114th-congress/senate-bill/727/all-info |
Text | https://www.congress.gov/114/bills/s727/BILLS-114s727is.pdf |