S.Amdt. 3212

SA 3212. Ms. KLOBUCHAR submitted an amendment intended to be proposed
to amendment SA 3060 proposed by Mr. Wyden to the bill H.R. 3474, to
amend the Internal Revenue Code of 1986 to allow employers to exempt
employees with health coverage under TRICARE or the Veterans
Administration from being taken into account for purposes of the
employer mandate under the Patient Protection and Affordable Care Act;
which was ordered to lie on the table; as follows:

At the appropriate place, insert the following:

TITLE--OTHER PROVISIONS

SEC. _01. CONSUMER RENEWABLE CREDIT.

(a) Business Credit.--
(1) In general.--Subpart D of part IV of subchapter A of
chapter 1 is amended by adding at the end the following new
section:

``SEC. 45S. CONSUMER RENEWABLE CREDIT.

``(a) General Rule.--For purposes of section 38, in the
case of an eligible taxpayer, the consumer renewable credit
for any taxable year is an amount equal to the product of--
``(1) the renewable portfolio factor of such eligible
taxpayer, and
``(2) subject to subsection (e), the number of kilowatt
hours of renewable electricity--
``(A) purchased or produced by such taxpayer, and
``(B) sold by such taxpayer to a retail customer during the
taxable year.
``(b) Renewable Portfolio Factor.--In the case of taxable
years beginning before January 1, 2019, the renewable
portfolio factor for an eligible taxpayer shall be determined
as follows:

------------------------------------------------------------------------
Renewable
``Renewable electricity   percentage:          portfolio factor:
------------------------------------------------------------------------
Less than 6 percent................................           zero cents
At least 6 percent but less than 8 percent.........            0.1 cents
At least 8 percent but less than 12 percent........            0.2 cents
At least 12 percent but less than 16 percent.......            0.3 cents
At least 16 percent but less than 20 percent.......            0.4 cents
At least 20 percent but less than 24 percent.......            0.5 cents
Equal to or greater than 24 percent................           0.6 cents.
------------------------------------------------------------------------

``(c) Definitions and Special Rules.--For purposes of this
section--
``(1) Eligible taxpayer.--The term `eligible taxpayer'
means an electric utility, as defined in section 3(22) of the
Federal Power Act (16 U.S.C. 796(22)).
``(2) Renewable electricity.--The term `renewable
electricity' means electricity generated by any facility
using wind or solar energy to generate such electricity.
``(3) Renewable electricity percentage.--The term
`renewable electricity percentage' means the percentage of an
eligible taxpayer's total sales of electricity to retail
customers which is derived from renewable electricity
(determined without regard to whether such electricity was
produced by the taxpayer).
``(4) Application of other rules.--For purposes of this
section, rules similar to the rules of paragraphs (1), (3),
and (5) of section 45(e) shall apply.
``(5) Credit allowed only with respect to one eligible
entity.--No credit shall be allowed under subsection (a) with
respect to renewable electricity purchased from another
eligible entity if a credit has been allowed under this
section to such other eligible entity.
``(d) Coordination With Payments.--The amount of the credit
determined under this section with respect to any electricity
shall be reduced to take into account any payment provided
with respect to such electricity solely by reason of the
application of section 6433.
``(e) Renewable Electricity Enhancement.--
``(1) Native american wind and solar.--In the case of
renewable electricity generated by a wind or solar energy
facility which is located on an Indian reservation (as
defined in section 168(j)(6)), the number of kilowatt

[[Page S3140]]

hours of such renewable electricity shall, for purposes of
subsection (a)(2), be equal to 200 percent of the kilowatt
hours of such renewable electricity actually purchased or
produced and sold during the taxable year.
``(2) Electric cooperative wind and solar.--In the case of
renewable electricity generated by a wind or solar energy
facility which is wholly owned by a mutual or cooperative
electric company (as described in section 501(c)(12) or
1381(a)(2)(C)), the number of kilowatt hours of such
renewable electricity shall, for purposes of subsection
(a)(2), be equal to 150 percent of the kilowatt hours of such
renewable electricity actually purchased or produced and sold
during the taxable year.''.
(2) Credit made part of general business credit.--
Subsection (b) of section 38, as amended by this Act, is
amended by striking ``plus'' at the end of paragraph (35), by
striking the period at the end of paragraph (36) and
inserting ``, plus'', and by adding at the end the following
new paragraph:
``(37) the consumer renewable credit determined under
section 45S(a).''.
(3) Specified credit.--Subparagraph (B) of section 38(c)(4)
is amended by redesignating clauses (vii) through (ix) as
clauses (viii) through (x), respectively, and by inserting
after clause (v) the following new clause:
``(vi) the credit determined under section 45S.''.
(4) Clerical amendment.--The table of sections for subpart
D of part IV of subchapter A of chapter 1 is amended by
adding at the end the following new item:
``Sec. 45S. Consumer renewable credit.''.

(b) Payments in Lieu of Credit.--
(1) In general.--Subchapter B of chapter 65 is amended by
adding at the end the following new section:

``SEC. 6433. CONSUMER RENEWABLE CREDIT PAYMENTS.

``(a) In General.--If any eligible person sells renewable
electricity to a retail customer, the Secretary shall pay
(without interest) to any such person who elects to receive a
payment an amount equal to the product of--
``(1) the intermittent renewable portfolio factor of such
eligible person, and
``(2) the number of kilowatt hours of renewable
electricity--
``(A) purchased or produced by such person, and
``(B) sold by such person in the trade or business of such
person to a retail customer.
``(b) Timing of Payments.--
``(1) In general.--Except as provided in paragraph (2),
rules similar to the rules of section 6427(i)(1) shall apply
for purposes of this section.
``(2) Quarterly payments.--
``(A) In general.--If, at the close of any quarter of the
taxable year of any person (or, in the case of an eligible
person that does not have a taxable year, the close of any
quarter of the fiscal year), at least $750 is payable in the
aggregate under subsection (a), to such person with respect
to electricity purchased or produced during--
``(i) such quarter, or
``(ii) any prior quarter (for which no other claim has been
filed) during such year,
a claim may be filed under this section with respect to such
electricity.
``(B) Time for filing claim.--No claim filed under this
paragraph shall be allowed unless filed on or before the last
day of the first quarter following the earliest quarter
included in the claim.
``(c) Definitions and Special Rules.--For purposes of this
section--
``(1) Eligible person.--The term `eligible person' means--
``(A) an electric utility, as defined in section 3(22) of
the Federal Power Act (16 U.S.C. 796(22)), or
``(B) a Federal power marketing agency, as defined in
section 3(19) of such Act (16 U.S.C. 796(19)).
``(2) Other definitions.--Any term used in this section
which is also used in section 45S shall have the meaning
given such term under section 45S.
``(3) Application of other rules.--For purposes of this
section, rules similar to the rules of paragraphs (1) and (3)
of section 45(e) shall apply.
``(d) Payment Disallowed Unless Amount Passed to Third-
Party Generators Charged for Integration Costs.--
``(1) In general.--In the case of renewable electricity
eligible for the payment under subsection (a) that is
purchased and not produced by an eligible person, no payment
shall be made under this section unless any charge the
eligible person has assessed the seller to recover the
integration costs associated with such electricity has been
reduced (but not below zero) to the extent of the payment
received under subsection (a) associated with such
electricity.
``(2) Definitions.--For purposes of paragraph (1), charges
intended to recover integration costs do not include amounts
paid by the producer of the electricity for interconnection
facilities, distribution upgrades, network upgrades, or stand
alone network upgrades as those terms have been defined by
the Federal Energy Regulatory Commission in its Standard
Interconnection Procedures.
``(e) Payment Allowed for Special Generating and
Transmitting Entities.--
``(1) In general.--Notwithstanding subsection (a)(2), a
special generating and transmitting entity shall be eligible
for payment under subsection (a) based on the number of
kilowatt hours of renewable electricity transmitted,
regardless of whether such entity purchased or sold such
electricity to retail customers.
``(2) Definition.--For purposes of this subsection, the
term `special generating and transmitting entity' means--
``(A) an entity which is--
``(i) primarily engaged in marketing electricity,
``(ii) provides transmissions services for greater than
4,000 megawatts of renewable electricity generating
facilities, as determined by reference to the machine or
nameplate capacity thereof, and
``(iii) transmits the majority of such renewable
electricity to customers located outside of the region that
it serves, or
``(B) a generation and transmission cooperative which
engages primarily in providing wholesale electric services to
its members (generally consisting of distribution
cooperatives).''.
(2) Clerical amendment.--The table of sections for subpart
B of chapter 65 of the Internal Revenue Code of 1986 is
amended by adding at the end the following new item:
``Sec. 6433. Consumer renewable credit payments.''.

(c) Effective Date.--The amendments made by this section
shall apply to electricity produced or purchased and sold
after December 31, 2013, and before January 1, 2019.

SEC. _02. DELAY IN APPLICATION OF WORLDWIDE INTEREST.

(a) In General.--Paragraphs (5)(D) and (6) of section
864(f) are each amended by striking ``December 31, 2020'' and
inserting ``December 31, 2022''.
(b) Effective Date.--The amendments made by this section
shall take effect on the date of the enactment of this Act.
______