S.Amdt. 1475

SA 1475. Mr. CRAMER (for himself and Mr. Hoeven) submitted an
amendment intended to be proposed to amendment SA 1407 submitted by Ms.
Murkowski and intended to be proposed 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. __. REPEAL OF EXTENSION OF CREDIT FOR ELECTRICITY
PRODUCED FROM WIND.

(a) In General.--Section 45(d)(1) of the Internal Revenue
Code of 1986, as amended by section 127 of division Q the
Further Consolidated Appropriations Act, 2020, is amended by
striking ``January 1, 2021'' and inserting ``January 1,
2020''.
(b) Election to Treat Qualified Facilities as Energy
Property.--Section 48(a)(5)(C)(ii) of the Internal Revenue
Code of 1986, as amended by section 127 of division Q the
Further Consolidated Appropriations Act, 2020, is amended by
striking ``January 1, 2021'' and inserting ``January 1, 2021
(January 1, 2020, in the case of any facility which is
described in paragraph (1) of section 45(d))''.
(c) Application of Phaseout Percentage.--
(1) In general.--Section 45(b)(5) of such Code is amended
by inserting ``and'' at the end of subparagraph (B), by
striking ``, and'' at the end of subparagraph (C) and
inserting a period, and striking subparagraph (D).
(2) Treatment as energy property.--Section 48(a)(5)(E) of
such Code is amended by inserting ``and'' at the end of
clause (ii), by striking ``, and'' at the end of clause (iii)
and inserting a period, and by striking clause (iv).
(d) Effective Date.--
(1) In general.--Except as provided in paragraph (2), the
amendments made by this section shall apply to electricity
produced at facilities placed in service after December 31,
2019.
(2) Election to treat as energy property.--The amendments
made by subsections (b) and (c)(2) shall apply to periods
beginning after December 31, 2019.
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