S.Amdt. 3439

SA 3439. Mr. REID 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:

On page 268, between lines 11 and 12, insert the following:

SEC. ___. CLARIFICATION OF QUALIFYING TECHNOLOGIES ELIGIBLE
FOR COMBINED HEAT AND POWER SYSTEM PROPERTY
CREDIT.

(a) Nonapplication of Certain Rules.--Section 48(c)(3)(C)
is amended by adding at the end the following new clause:
``(iv) Nonapplication of certain rules.--For purposes of
determining if the term `combined heat and power system
property' includes technologies which generate electricity or
mechanical power using back-pressure steam turbines in place
of existing pressure-reducing valves or which make use of
waste heat from industrial processes such as by using organic
rankine, stirling, or kalina heat engine systems,
subparagraph (A) shall be applied without regard to clause
(ii).''.
(b) Effective Date.--The amendments made by this section
shall apply to periods after the date of the enactment of
this Act, under rules similar to the rules of section 48(m)
of the Internal Revenue Code of 1986 (as in effect on the day
before the date of the enactment of the Revenue
Reconciliation Act of 1990).
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