I
112th CONGRESS
1st Session
H. R. 277
IN THE HOUSE OF REPRESENTATIVES
January 12, 2011
Mr. Fortenberry 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 provide an exception to the reduction of renewable energy credit for certain authority under the Farm Security and Rural Investment Act of 2002.
Short title
This Act may be cited as the
Rural Energy Equity Act of
2011
.
Exception to reduction of renewable electricity credit
In general
Section 45(b)(3) of the Internal Revenue Code of 1986
(relating to credit reduced for grants, tax-exempt bonds, subsidized energy
financing, and other credits) is amended by adding after the last sentence the
following: This paragraph shall not apply with respect to any loan
guarantees or grants issued by the Secretary of Agriculture under authority
granted by section 9007 of the Farm Security and Rural Investment Act of
2002.
.
Effective date
The amendment made by this section shall apply to facilities placed in service after the date of the enactment of this Act.