S.Amdt. 1617

SA 1617. Mr. HELLER submitted an amendment intended to be proposed by
him to the bill H.R. 1, to provide for reconciliation pursuant to
titles II and V of the concurrent resolution on the budget for fiscal
year 2018; which was ordered to lie on the table; as follows:

At the appropriate place, insert the following:

SEC. ___. TECHNOLOGIES FOR ENERGY JOBS AND SECURITY.

(a) Extension and Phaseout of Residential Energy Efficient
Property.--
(1) Extension.--Section 25D(h) is amended by striking
``December 31, 2016 (December 31, 2021, in the case of any
qualified solar electric property expenditures and qualified
solar water heating property expenditures)'', and inserting
``December 31, 2021''.
(2) Phaseout.--
(A) In general.--Paragraphs (3), (4), and (5) of section
25D(a) are amended by striking ``30 percent'' each place it
appears and inserting ``the applicable percentage''.
(B) Conforming amendment.--Section 25D(g) is amended by
striking ``paragraphs (1) and (2) of''.
(3) Effective date.--The amendments made by this subsection
shall take effect on January 1, 2017.
(b) Extension and Phaseout of Energy Credit.--
(1) Credit percentage for geothermal energy property.--
Section 48(a)(2)(A)(i)(II) is amended by striking ``paragraph
(3)(A)(i)'' and inserting ``clause (i) or (iii) of paragraph
(3)(A)''.
(2) Extension of solar and thermal energy property.--
Section 48(a)(3)(A) is amended--
(A) in clause (ii) by striking ``periods ending before
January 1, 2017'' and inserting ``property the construction
of which begins before January 1, 2022''; and
(B) in clause (vii) by striking ``periods ending before
January 1, 2017'' and inserting ``property the construction
of which begins before January 1, 2022''.
(3) Phaseout of 30-percent credit rate for geothermal
energy property.--Section 48(a)(6) is amended--

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(A) in the heading, by inserting ``and geothermal'' after
``solar'';
(B) in subparagraph (A), by striking ``paragraph
(3)(A)(i)'' and inserting ``clause (i) or (iii) of paragraph
(3)(A)''; and
(C) in subparagraph (B), by striking ``property energy
property described in paragraph (3)(A)(i)'' and inserting
``energy property described in clause (i) or (iii) of
paragraph (3)(A)''.
(4) Phaseout of 30-percent credit rate for fiber-optic
solar, qualified fuel cell, and qualified small wind energy
property.--
(A) In general.--Section 48(a) is amended by adding the
following:
``(7) Phaseout for fiber-optic solar, qualified fuel cell,
and qualified small wind energy property.--In the case of any
energy property described in paragraph (3)(A)(ii), qualified
fuel cell property, or qualified small wind property, 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.''.
(B) Conforming amendment.--Section 48(a)(2)(A) is amended
by striking ``paragraph (6)'' and inserting ``paragraphs (6)
and (7)''.
(5) Extension of qualified fuel cell property.--Section
48(c)(1)(D) is amended by striking ``for any period after
December 31, 2016'' and inserting ``the construction of which
does not begin before January 1, 2022''.
(6) Extension of qualified microturbine property.--Section
48(c)(2)(D) is amended by striking ``for any period after
December 31, 2016'' and inserting ``the construction of which
does not begin before January 1, 2022''.
(7) Extension of combined heat and power system property.--
Section 48(c)(3)(A)(iv) is amended by striking ``which is
placed in service before January 1, 2017'' and inserting
``the construction of which begins before January 1, 2022''.
(8) Extension of qualified small wind energy property.--
Section 48(c)(4)(C) is amended by striking ``for any period
after December 31, 2016'' and inserting ``the construction of
which does not begin before January 1, 2022''.
(9) Effective date.--The amendments made by this subsection
shall take effect on January 1, 2017.
(c) Waste Heat to Power Property.--
(1) In general.--
(A) Introduction of waste to heat power energy property.--
Section 48(a)(3)(A) is amended--
(i) at the end of clause (vi) by striking ``or''; and
(ii) at the end of clause (vii) by inserting ``or'' after
the comma; and
(iii) by adding the following:
``(viii) waste heat to power property,''.
(B) Definitions and limitations.--Section 48(c) is amended
by adding the following:
``(5) Waste heat to power property.--
``(A) In general.--The term `waste heat to power property'
means property--
``(i) comprising a system which generates electricity
through the recovery of a qualified waste heat resource, and
``(ii) the construction of which begins before January 1,
2022.
``(B) Qualified waste heat resource.--The term `qualified
waste heat resource' means--
``(i) exhaust heat or flared gas from an industrial process
that does not have, as its primary purpose, the production of
electricity, and
``(ii) a pressure drop in any gas for an industrial or
commercial process.
``(C) Limitations.--
``(i) In general.--For purposes of subsection (a)(1), the
basis of any waste heat to power property taken into account
under this section shall not exceed the excess of--

``(I) the basis of such property, over
``(II) the fair market value of comparable property which
does not have the capacity to capture and convert a qualified
waste heat resource to electricity.

``(ii) Capacity limitation.--The term `waste heat to power
property' shall not include any property comprising a system
if such system has a capacity in excess of 50 megawatts.''.
(2) Effective date.--The amendments made by this subsection
shall apply to periods after December 31, 2016, in taxable
years ending after such date, 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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