S.Amdt. 3718

SA 3718. Mr. CARPER (for himself, Mr. Schumer, Mr. Wyden, and Mr.
Coons) submitted an amendment intended to be proposed to amendment SA
3679 proposed by Mr. McConnell (for Mr. Thune (for himself and Mr.
Nelson)) to the bill H.R. 636, to amend the Internal Revenue Code of
1986 to permanently extend increased expensing limitations, and for
other purposes; which was ordered to lie on the table; as follows:

At the appropriate place, insert the following:

SEC. ___. EXTENSION OF ENERGY CREDIT FOR OTHER ENERGY
PROPERTY.

(a) Qualified Fuel Cell Property.--Section 48(c)(1)(D) of
the Internal Revenue Code of 1986 is amended by striking
``for any period after December 31, 2016'' and inserting
``the construction of which does not begin before January 1,
2022''.
(b) Qualified Microturbine Property.--Section 48(c)(2)(D)
of such Code is amended by striking ``for any period after
December 31, 2016'' and inserting ``the construction of which
does not begin before January 1, 2022''.
(c) Combined Heat And Power System Property.--Section
48(c)(3)(A)(iv) of such Code is amended by striking ``which
is placed in service before January 1, 2017'' and inserting
``the construction of which begins before January 1, 2022''.
(d) Qualified Small Wind Energy Property.--Section
48(c)(4)(C) of such Code is amended by striking ``for any
period after December 31, 2016'' and inserting ``the
construction of which does not begin before January 1,
2022''.
(e) Thermal Energy Property.--Section 48(a)(3)(A)(vii) of
such Code is amended by striking ``periods ending before
January 1, 2017'' and inserting ``property the construction
of which begins before January 1, 2022''.
(f) Phaseout of 30 Percent Credit Rate for Fuel Cell and
Small Wind Energy Property.--Subsection (a) of section 48 of
such Code is amended by adding at the end the following new
paragraph:
``(7) Phaseout for qualified fuel cell property and
qualified small wind energy property.--In the case of
qualified fuel cell property or qualified small wind energy
property, the construction of which begins before January 1,
2022, the energy percentage determined under paragraph (2)
shall be equal to--
``(A) in the case of any property the construction of which
begins after December 31, 2019, and before January 1, 2021,
26 percent, and
``(B) in the case of any property the construction of which
begins after December 31, 2020, and before January 1, 2022,
22 percent.''.
(g) Effective Date.--The amendments made by this section
shall take effect on the date of the enactment of this Act.
______