I
111th CONGRESS
2d Session
H. R. 5612
IN THE HOUSE OF REPRESENTATIVES
June 28, 2010
Mr. Blumenauer (for himself, Mr. Thompson of California, Ms. Berkley, Ms. Giffords, Mr. McDermott, and Mr. Garamendi) introduced the following bill; which was referred to the Committee on Ways and Means
A BILL
To amend the Internal Revenue Code of 1986 to temporarily increase the investment tax credit for geothermal energy property.
Short title
This Act may be cited as the
Geothermal Energy Investment Act of
2010
.
Temporary increase in investment tax credit for geothermal energy property
In general
Subclause (II) of
section 48(a)(2)(A)(i) of the Internal Revenue Code of 1986 is amended by
striking paragraph (3)(A)(i)
and inserting clause (i) or
(iii) of paragraph (3)(A)
.
Effective date
The amendment made by this section shall apply to periods after the date of the enactment of this Act, 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).