To amend the Internal Revenue Code of 1986 to extend certain expiring provisions.

SA 3371. Mr. ROCKEFELLER (for himself, Mr. Specter, and Mr. Hatch)
submitted an amendment intended to be proposed to amendment SA 3336
proposed by Mr. Baucus to the bill H.R. 4213, to amend the Internal
Revenue Code of 1986 to extend certain expiring provisions, and for
other purposes; which was ordered to lie on the table; as follows:

At the end of subtitle A of title I, insert the following:

SEC. ___. EXTENSION AND MODIFICATION OF SECTION 45 CREDIT FOR
REFINED COAL FROM STEEL INDUSTRY FUEL.

(a) Credit Period.--
(1) In general.--Subclause (II) of section 45(e)(8)(D)(ii)
is amended to read as follows:

``(II) Credit period.--In lieu of the 10-year period
referred to in clauses (i) and (ii)(II) of subparagraph (A),
the credit period shall be the period beginning on the date
that the facility first produces steel industry fuel that is
sold to an unrelated person after September 30, 2008, and
ending 2 years after such date.''.

(2) Conforming amendment.--Section 45(e)(8)(D) is amended
by striking clause (iii) and by redesignating clause (iv) as
clause (iii).
(b) Extension of Placed-in-Service Date.--Subparagraph (A)
of section 45(d)(8) is amended--
(1) by striking ``(or any modification to a facility)'',
and
(2) by striking ``2010'' and inserting ``2011''.
(c) Clarifications.--
(1) Steel industry fuel.--Subclause (I) of section
45(c)(7)(C)(i) is amended by inserting ``, a blend of coal
and petroleum coke, or other coke feedstock'' after ``on
coal''.
(2) Ownership interest.--Section 45(d)(8) is amended by
adding at the end the following new flush sentence:
``With respect to a facility producing steel industry fuel,
no person (including a ground lessor, customer, supplier, or
technology licensor) shall be treated as having an ownership
interest in the facility or as otherwise entitled to the
credit allowable under subsection (a) with respect to such
facility if such person's rent, license fee, or other
entitlement to net payments from the owner of such facility
is measured by a fixed dollar amount or a fixed amount per
ton, or otherwise determined without regard to the profit or
loss of such facility.''.
(3) Production and sale.--Subparagraph (D) of section
45(e)(8), as amended by subsection (a)(2), is amended by
redesignating clause (iii) as clause (iv) and by inserting
after clause (ii) the following new clause:
``(iii) Production and sale.--The owner of a facility
producing steel industry fuel shall be treated as producing
and selling steel industry fuel where that owner manufactures
such steel industry fuel from coal, a blend of coal and
petroleum coke, or other coke feedstock to which it has
title. The sale of such steel industry fuel by the owner of
the facility to a person who is not the owner of the facility
shall not fail to qualify as a sale to an unrelated person
solely because such purchaser may also be a ground lessor,
supplier, or customer.''.
(d) Specified Credit for Purposes of Alternative Minimum
Tax Exclusion.--Subclause (II) of section 38(c)(4)(B)(iii) is
amended by inserting ``(in the case of a refined coal
production facility producing steel industry fuel, during the
credit period set forth in section 45(e)(8)(D)(ii)(II))''
after ``service''.
(e) Effective Dates.--
(1) In general.--The amendments made by subsections (a),
(b), and (d) shall take effect on the date of the enactment
of this Act.
(2) Clarifications.--The amendments made by subsection (c)
shall take effect as if included in the amendments made by
the Energy Improvement and Extension Act of 2008.
______