S.Amdt. 937
What it does: Adds SEC. __. 5-YEAR RECOVERY PERIOD FOR QUALIFIED SOLAR INDUSTRIAL FACILITIES wherever appropriate
Sen. Jeff Bingaman (D-NM)What it changes
1 change to H.R. 6
Adds SEC. __. 5-YEAR RECOVERY PERIOD FOR QUALIFIED SOLAR INDUSTRIAL FACILITIES wherever appropriate
Adds a sectionInserted: SEC. __. 5-YEAR RECOVERY PERIOD FOR QUALIFIED SOLAR INDUSTRIAL FACILITIES.
Inserted: (a) In General.--Section 168(e)(3)(B) of the Internal Revenue Code of 1986 (relating to 5-year property), as amended by this Act, is amended by striking "and" at the end of clause (vi), by striking the period at the end of clause (vii) and inserting ", and", and by adding at the end the following new clause:
Inserted: "(viii) any qualified solar industrial facility."
Inserted: (b) Qualified solar industrial facility.--Section 168(i) of the Internal Revenue Code of 1986, as amended by this Act, is amended by adding at the end the following new paragraph:
Inserted: "(18) Qualified solar industrial facility.--
Inserted: "(A) In general.--The term 'qualified solar industrial facility' means a facility which is placed in service on or after January 1, 2005, and which uses, as part of an industrial process, solar process energy, but does not include any facility described in section 45(d)(4).
Inserted: "(B) Qualified evaporation and equipment.--The term 'solar process energy' includes solar energy utilized for qualified evaporation.
Inserted: "(C) Qualified evaporation.--The term 'qualified evaporation' means the evaporation or transpiration of liquids from a solution as part of a process to concentrate such solution in order to extract products from such solution. Such term includes utilizing evaporation ponds to concentrate solutions as part of a mining process, but does not include evaporation used solely to dispose water or other liquids.
Inserted: "(D) Facility.--The term 'facility' includes an evaporation pond and all equipment and pipelines used to harvest minerals from the pond and transport such minerals to the point of processing.".
Inserted: (c) Effective Date.--The amendments made by this section shall apply to property placed in service in taxable years beginning after the date of the enactment of this Act.
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Original wording
At the appropriate place, insert the following:
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As printed
SA 937. Mr. BINGAMAN submitted an amendment intended to be proposed by him to the bill H.R. 6, to ensure jobs for our future with secure, affordable, and reliable energy; which was ordered to lie on the table; as follows:
At the appropriate place, insert the following:
SEC. __. 5-YEAR RECOVERY PERIOD FOR QUALIFIED SOLAR INDUSTRIAL FACILITIES.
(a) In General.--Section 168(e)(3)(B) of the Internal Revenue Code of 1986 (relating to 5-year property), as amended by this Act, is amended by striking “and” at the end of clause (vi), by striking the period at the end of clause (vii) and inserting “, and”, and by adding at the end the following new clause:
“(viii) any qualified solar industrial facility.”
(b) Qualified solar industrial facility.--Section 168(i) of the Internal Revenue Code of 1986, as amended by this Act, is amended by adding at the end the following new paragraph:
“(18) Qualified solar industrial facility.--
“(A) In general.--The term ‘qualified solar industrial facility' means a facility which is placed in service on or after January 1, 2005, and which uses, as part of an industrial process, solar process energy, but does not include any facility described in section 45(d)(4).
“(B) Qualified evaporation and equipment.--The term ‘solar process energy' includes solar energy utilized for qualified evaporation.
“(C) Qualified evaporation.--The term ‘qualified evaporation' means the evaporation or transpiration of liquids from a solution as part of a process to concentrate such solution in order to extract products from such solution. Such term includes utilizing evaporation ponds to concentrate solutions as part of a mining process, but does not include evaporation used solely to dispose water or other liquids.
“(D) Facility.--The term ‘facility' includes an evaporation pond and all equipment and pipelines used to harvest minerals from the pond and transport such minerals to the point of processing.”.
(c) Effective Date.--The amendments made by this section shall apply to property placed in service in taxable years beginning after the date of the enactment of this Act.
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Senate amendment submitted
June 22, 2005