US SB913 | 2015-2016 | 114th Congress
Status
Spectrum: Partisan Bill (Republican 1-0)
Status: Introduced on April 14 2015 - 25% progression, died in chamber
Action: 2015-04-14 - Placed on Senate Legislative Calendar under General Orders. Calendar No. 46.
Text: Latest bill text (Introduced) [PDF]
Status: Introduced on April 14 2015 - 25% progression, died in chamber
Action: 2015-04-14 - Placed on Senate Legislative Calendar under General Orders. Calendar No. 46.
Text: Latest bill text (Introduced) [PDF]
Summary
An original bill to amend the Internal Revenue Code of 1986 to provide an investment tax credit for waste heat to power technology. (Sec. 1) This bill amends the Internal Revenue Code to allow an energy tax credit for investment in waste heat to power property. The property cannot have a capacity in excess of 50 megawatts. The bill defines "waste heat to power property" as property: (1) comprising a system which generates electricity through the recovery of a qualified waste heat resource; and (2) that is placed in service before January 1, 2017. "Qualified waste heat resource" is defined as: (1) exhaust heat or flared gas from an industrial process that does not have as its primary purpose the production of electricity, and (2) a pressure drop in any gas for an industrial or commercial process. The bill provides for a formula to limit the basis of any waste heat to power property for purposes of calculating the credit. The amendments made by this section apply to taxable years ending after the enactment date of this Act. (Sec. 2) The bill also increases from 30% to 35% the rate of the continuous levy on payments made after 180 days after the enactment date of this Act to Medicare providers and suppliers for unpaid taxes.
Title
An original bill to amend the Internal Revenue Code of 1986 to provide an investment tax credit for waste heat to power technology.
Sponsors
Sen. Orrin Hatch [R-UT] |
History
Date | Chamber | Action |
---|---|---|
2015-04-14 | Senate | Placed on Senate Legislative Calendar under General Orders. Calendar No. 46. |
2015-04-14 | Senate | Committee on Finance. Original measure reported to Senate by Senator Hatch. With written report No. 114-23. |
Subjects
Alternative and renewable resources
Electric power generation and transmission
Energy efficiency and conservation
Income tax credits
Lighting and heating
Taxation
Electric power generation and transmission
Energy efficiency and conservation
Income tax credits
Lighting and heating
Taxation
US Congress State Sources
Type | Source |
---|---|
Summary | https://www.congress.gov/bill/114th-congress/senate-bill/913/all-info |
Text | https://www.congress.gov/114/bills/s913/BILLS-114s913pcs.pdf |