S.Amdt. 4788

SA 4788. Mr. NELSON of Florida submitted an amendment intended to be
proposed to amendment SA 4753 proposed by Mr. Reid (for himself and Mr.
McConnell) to the bill H.R. 4853, to amend the Internal Revenue Code of
1986 to extend the funding and expenditure authority of the Airport and
Airway Trust Fund, to amend title 49, United States Code, to extend
authorizations for the airport improvement program, and for other
purposes; which was ordered to lie on the table; as follows:

On page 51, between lines 11 and 12, insert the following:

SEC. 712. CREDIT FOR ELECTRICITY PRODUCED AT CERTAIN OPEN-
LOOP BIOMASS FACILITIES.

(a) In General.--Clause (ii) of section 45(b)(4)(B) is
amended--
(1) by striking ``5-year period'' and inserting ``7-year
period''; and
(2) by adding at the end the following: ``In the case of
the next-to-last year of the 7-year period described in the
preceding sentence, the credit determined under subsection
(a) with respect to electricity produced during such year
shall not exceed 80 percent of such credit determined without
regard to this sentence. In the case of the last year of such
7-year period, the credit determined under subsection (a)
with respect to electricity produced during such year shall
not exceed 60 percent of such credit determined without
regard to this sentence.''.
(b) Effective Date.--The amendment made by this section
shall apply to electricity produced and sold after December
31, 2009.
______