S.Amdt. 1416
What it does: Adds SEC. ___. EXTENSION OF REFINED COAL PRODUCTION TAX CREDIT wherever appropriate
Sen. John Hoeven (R-ND)What it changes
1 change to S. 2657
Adds SEC. ___. EXTENSION OF REFINED COAL PRODUCTION TAX CREDIT wherever appropriate
Adds a sectionInserted: SEC. ___. EXTENSION OF REFINED COAL PRODUCTION TAX CREDIT.
Inserted: (a) Extension of Period During Which Refined Coal Can Be Produced.--Section 45(e)(8) of the Internal Revenue Code of 1986 is amended by adding at the end the following new subparagraph:
Inserted: "(E) Extension of credit period for certain refined coal facilities.--In the case of a refined coal production facility which does not produce steel industry fuel and which is placed in service before January 1, 2012, clauses (i) and (ii)(II) of subparagraph (A) shall each be applied by substituting '20-year period' for '10-year period'.".
Inserted: (b) Extension of Period During Which Refined Coal Facilities Can Be Qualified.--Subparagraph (B) of section 45(d)(8) of the Internal Revenue Code of 1986 is amended--
Inserted: (1) by striking "placed in service after" and inserting "placed in service--
Inserted: "(i) after";
Inserted: (2) by striking the period at the end and inserting ", or"; and
Inserted: (3) by adding at the end the following new clause:
Inserted: "(ii) after December 31, 2019, and before January 1, 2023.".
Inserted: (c) Effective Date.--The amendments made by this section shall apply to coal produced and sold after the date of the enactment of this Act, in taxable years ending after such date.
The amendment doesn't say where this goes; the clerk decides.
Original wording
At the appropriate place, insert the following:
Read automatically from the Congressional Record. Check the original before relying on it.
As printed
SA 1416. Mr. HOEVEN (for himself and Mr. Cramer) submitted an amendment intended to be proposed by him to the bill S. 2657, to support innovation in advanced geothermal research and development, and for other purposes; which was ordered to lie on the table; as follows:
At the appropriate place, insert the following:
SEC. ___. EXTENSION OF REFINED COAL PRODUCTION TAX CREDIT.
(a) Extension of Period During Which Refined Coal Can Be Produced.--Section 45(e)(8) of the Internal Revenue Code of 1986 is amended by adding at the end the following new subparagraph:
“(E) Extension of credit period for certain refined coal facilities.--In the case of a refined coal production facility which does not produce steel industry fuel and which is placed in service before January 1, 2012, clauses (i) and (ii)(II) of subparagraph (A) shall each be applied by substituting ‘20-year period' for ‘10-year period'.”.
(b) Extension of Period During Which Refined Coal Facilities Can Be Qualified.--Subparagraph (B) of section 45(d)(8) of the Internal Revenue Code of 1986 is amended--
(1) by striking “placed in service after” and inserting “placed in service--
“(i) after”;
(2) by striking the period at the end and inserting “, or”; and
(3) by adding at the end the following new clause:
“(ii) after December 31, 2019, and before January 1, 2023.”.
(c) Effective Date.--The amendments made by this section shall apply to coal produced and sold after the date of the enactment of this Act, in taxable years ending after such date.
Legislative Activity
Stay on top of the latest movement without scrolling through every action
Senate amendment submitted
March 3, 2020