S. 1325Senate111th Congress (2009-2011)In Committee

A bill to amend the Internal Revenue Code of 1986 to permanently extend and modify the section 45 credit for refined coal from steel industry fuel, and for other purposes.

Introduced June 23, 2009

Legislative Activity

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2 earlier actions
SenateIntro Referral Latest Action

Read twice and referred to the Committee on Finance.

June 23, 2009

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SenateIntro Referral

Introduced in Senate

June 23, 2009

SenateIntro Referral

Sponsor introductory remarks on measure. (CR S6944-6945)

June 23, 2009

SenateIntro Referral

Read twice and referred to the Committee on Finance.

June 23, 2009

Floor Debate

5 members

What members said about S. 1325 on the floor

5 Democrats
Mark Udall
Sen. Mark UdallD-CO · Jun 23, 2009

Mr. President, there is an old saying that ``you don't know what you've got until it's gone.'' It is true, especially when you are talking about water. We have a tendency to take water for granted…

Arlen Specter
Sen. Arlen SpecterD-PA · Jun 23, 2009

Mr. President, I have sought recognition to introduce legislation to make permanent a tax credit for the production of Steel Industry Fuel, SIF. SIF is used by the domestic steel industry as a…

Arlen Specter
Sen. Arlen SpecterD-PA · Jun 23, 2009

Mr. President, I have sought recognition to introduce legislation to make permanent a tax credit for the production of Steel Industry Fuel, SIF. SIF is used by the domestic steel industry as a…

Herb Kohl
Sen. Herb KohlD-WI · Jun 23, 2009

Mr. President, I rise today, with Senator Kennedy, Senator Durbin, and Senator Cardin to introduce the state Court Interpreter Grant Program Act of 2009. This legislation would create a modest grant…

Dianne Feinstein
Sen. Dianne FeinsteinD-CA · Jun 23, 2009

Mr. President, I rise on behalf of myself and Senator Boxer to introduce legislation to improve the administration of Chappie-Shasta Off-Highway Vehicle area by reducing unnecessary bureaucracy and…

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Richard J. Durbin
Sen. Richard J. DurbinD-IL · Jun 23, 2009

Mr. President, I ask unanimous consent that the text of the bill be printed in the Record.

Bill Text

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Introduced in SenateIssued June 23, 2009

II

111th CONGRESS

1st Session

S. 1325

IN THE SENATE OF THE UNITED STATES

June 23, 2009

Mr. Specter introduced the following bill; which was read twice and referred to the Committee on Finance

A BILL

To amend the Internal Revenue Code of 1986 to permanently extend and modify the section 45 credit for refined coal from steel industry fuel, and for other purposes.

1.

Permanent extension and modification of section 45 credit for refined coal from steel industry fuel

(a)

Credit period

(1)

In general

Subclause (II) of section 45(e)(8)(D)(ii) of the Internal Revenue Code of 1986 (relating to modifications) is amended to read as follows:

(II)

Credit period

In lieu of the 10-year period referred to in clauses (i) and (ii)(II) of subparagraph (A), the credit period shall be the period beginning on the date that the facility first produces steel industry fuel that is sold to an unrelated person after the date of the enactment of this subclause.

.

(2)

Conforming amendment

Section 45(e)(8)(D) of such Code is amended by striking clause (iii) and by redesignating clause (iv) as clause (iii).

(b)

Extension of placed-in-service date

Subparagraph (A) of section 45(d)(8) of the Internal Revenue Code of 1986 (defining refined coal production facility) is amended—

(1)

by striking (or any modification to a facility), and

(2)

by striking 2010 and inserting 2011.

(c)

Clarifications

(1)

Steel industry fuel

Subclause (I) of section 45(c)(7)(C)(i) of the Internal Revenue Code of 1986 (defining steel industry fuel) is amended by inserting or a blend of coal and petroleum coke after on coal.

(2)

Ownership interest

Section 45(d)(8) of such Code (defining refined coal production facility) is amended by adding at the end the following new flush sentence:

With respect to a facility producing steel industry fuel, no person (including a ground lessor, customer, supplier, or technology licensor) shall be treated as having an ownership interest in the facility or as otherwise entitled to the credit allowable under subsection (a) with respect to such facility if such person’s rent, license fee, or other entitlement to net payments from the owner of such facility is measured by a fixed dollar amount or a fixed amount per ton, or otherwise determined without regard to the profit or loss of such facility.

.

(3)

Production and sale

Subparagraph (D) of section 45(e)(8) of such Code (relating to special rule for steel industry fuel), as amended by subsection (a)(2), is amended by redesignating clause (iii) as clause (iv) and by inserting after clause (ii) the following new clause:

(iii)

Production and sale

The owner of a facility producing steel industry fuel shall be treated as producing and selling steel industry fuel where that owner manufactures such steel industry fuel from coal or a blend of coal and petroleum coke to which it has title. The sale of such steel industry fuel by the owner of the facility to a person who is not the owner of the facility shall not fail to qualify as a sale to an unrelated person solely because such purchaser may also be a ground lessor, supplier, or customer.

.

(d)

Specified credit for purposes of alternative minimum tax exclusion

Subclause (II) of section 38(c)(4)(B)(iii) of the Internal Revenue Code of 1986 (relating to specified credits) is amended by inserting (in the case of a refined coal production facility producing steel industry fuel, during the credit period set forth in section 45(e)(8)(D)(ii)(II)) after service.

(e)

Effective dates

(1)

In general

The amendments made by subsections (a), (b), and (d) shall take effect on the date of the enactment of this Act.

(2)

Clarifications

The amendments made by subsection (c) shall take effect as if included in the amendments made by the Energy Improvement and Extension Act of 2008.